July 25, 2011 Vol. 164 No. 2 / Fortune Asia / THE GLOBAL 500 ISSUE

48 Tech Bubble 2.0
Signs of exuberance are everywhere: Tesla roadsters, soaring real state,
overpriced vinegar! So why is Silicon Valley reluctant to use the B-word?
BY DAVID A. KAPLAN

59 Skype: The Inside Story of the Boffo $8.5 Billion Deal
How executive shuffles, product changes, and a delayed IPO paid off for a couple
of private equity firms.
BY KEVIN MANEY

92 Can This Man Fix America's Biggest Bank?
Bank of America is still reeling from the financial crisis. But CEO Brian Moynihan
may be the right guy to turn it around.
BY SHAWN TULLY

101 FORTUNE GLOBAL 500
The Best New Cities for Business
Looking for smart labor, solid infrastructure, and potential customers? Here are

15 markets to put on the map.
BY JOSH DAWSEY AND RUPALI ARORA

The List
109 The World's Largest Corporations
F--11 Arrivals and Departures
F--12 Definitions and Explanations
F--13 How the Companies Stack Up
F--15 Ranked Within Countries
F--21 Index

10 FIRST
By the Numbers

County fairs: Livestock shows, carnival games 窶蚤nd food!
BY TARA MOORE

13 FIRST
The Chartist
The battle for bandwidth.
BY TARA MOORE

15 FIRST
Closer Look
Banks窶杯he new post-reform reality.
BY CHARLES P. WALLACE

18 FIRST
The Briefing
Water-logged in Ghana, the Kong chronicles, a tense situation for News Corp.,
and more.

19 FIRST
100 Best Companies to Work For
Kimpton Hotels & Restaurants gives five-star treatment to its employees.
BY CHRISTOPHER TKACZYK

20 FIRST
Road Warrior
Accel Partners' Theresia Gouw Ranzetta keeps cool on two coasts.
BY JESSICA SHAMBORA

21 FIRST
Executive Dream Team
These days chief financial officers wear many hats窶巴ut not green eyeshades.
BY SCOTT CENDROWSKI

22 FIRST
World's Most Admired Companies
Samsung's a lot sexier lately. Here's how it executed its makeover.
BY SHERIDAN PRASSO

25 INVEST
We Buy High and Sell Low
That's what most companies do when they buy their own stock.
BY SCOTT CENDROWSKI

34 INVEST
Anatomy of a Trade
Nik Lalvani is arming his fund with Raytheon.
BY SCOTT MEDINTZ

OPINION
39 Geoff Colvin
The next management icon: Would you believe he's from China?

40 Dan Primack
Why a Mitt Romney nomination could spell trouble for private equity.

47 John Cassidy
Forget deficit reduction: Here comes another stimulus package.

36 INVEST
Wealth Adviser
The rising impact of stealth taxes.
BY JANICE REVELL

136 Bing!
ON THE COVER ILLUSTRATION BY MICHAEL MYERS