(FORTUNE Magazine) – EXECUTIVE LIFE/Cover Story 50 THE WORKAHOLIC GENERATION Three decades ago, the Organization Man gave a lot of time to home, hearth, and the good life in the suburbs. By contrast, his successors today put in grueling hours, often to the neglect of their families. Their leadership style is different too: They cut subordinates loose and compete ferociously. No respecters of hierarchy, they don't want to get to the top just because it's the top. But does all this mean that they are good managers? by Walter Kiechel III

SELLING 66 LUXURY CARS: NEW LEADERS IN AN UPSCALE UPHEAVAL Cadillac -- yes, Cadillac -- and Lincoln are racing ahead while some venerable European makes have slipped badly. Coming up in the fast lane: Who else but the Japanese? by Alex Taylor III

68 A PORTFOLIO OF BLUE-CHIP CARS These 21 luxury brands have already won U.S. motorists' affection or seem sure to do so soon.

MANAGING 78 THOSE HIGHFLYING PEPSICO MANAGERS How does a soda-pop company develop some of America's most sought-after executives? By evaluating ruthlessly, encouraging risk, and paying big. CEO Wayne Calloway runs a boot camp for managers that makes Parris Island look like Coney Island. by Brian Dumaine

CORPORATE PERFORMANCE 89 COMPANIES TO WATCH Kaufman & Broad Home Corp. constructs affordable houses where houses are tough to afford. Plus: Town & Country, Mountain Medical, Jazzercise, and Uni-Marts Inc. by David Sylvester

THE ECONOMY 94 GOOD NEWS ABOUT INFRASTRUCTURE Sure, our bridges, airports, and highways are overaged and overused. But better management and financing can turn the crisis into just another ordinary problem. One report card gives U.S. highways a C+, aviation a B-, hazardous waste handling a D. by Nancy J. Perry

ENTREPRENEURS 102 THE WHISTLING BILLIONAIRE He came out of Golden, Texas, and he tools around in his Jaguar tootling ''Zip-a-Dee-Doo-Dah.'' Harold Simmons figures he'll accumulate as much as $10 billion in his lifetime, but after six years of trying he still hasn't made it into the Dallas Country Club. by Andrew Evan Serwer

THE WORLD 108 THE COMING BOOM IN EUROPE The Pacific Rim won't have a monopoly on fast growth. U.S. and Japanese companies can expect to face some tough new competitors. The European Community's drive to create a single market, 320 million strong, by the end of 1992 has spurred potent change. by Shawn Tully

COMPETITION 116 SHAPING UP YOUR SUPPLIERS It's survival time. And to make the cut yourself you've got to get real tough with your vendors. Innovative programs, many of them joint efforts of government and private companies, can teach them how to deliver. by Joel Dreyfuss

THE SOCIETY 124 HOW WE CAN WIN THE WAR ON POVERTY Around the U.S. points of light are turning on, and some principles for success are showing up. Programs that incorporate the discipline of the marketplace work better than wholly subsidized projects. Reality is forcing a new social compact for helping the poor. by John Huey

DEPARTMENTS 4 A LETTER FROM THE EDITOR-IN-CHIEF 10 INDEX 14 NEWS/TRENDS ! Fallout from the Eastern strike, gourmet coffee heats up, Japan's $2.5 billion giveaway, what's in but hard to find, easy college credit, women directors, valuing the ruble, and more. 33 FORTUNE FORECAST A growing shortage of workers is raising the risk of inflation. by Vivian Brownstein 37 PERSONAL INVESTING Cyclical stocks go begging even though the companies are getting rich. by Joshua Mendes

Also: Harley rides high, betting on the buck, and Portfolio Talk with Tweedy Browne money manager Christopher Browne.

139 FORTUNE PEOPLE Ross Perot names a hall, John Templeton picks a different kind of winner, R. J. Reynolds's grandson tells all, and more. by Mark Alpert

142 ON THE RISE

145 BOOKS & IDEAS Journalist James Fallows contends that to beat the Japanese, America needs to become more American. by Stratford P. Sherman

150 LETTERS TO FORTUNE

153 KEEPING UP A totalitarian tax, bias in the casino, sexism and self-esteem, and more. by Daniel Seligman

COVER AND ABOVE: Dilip Mehta of the Contact agency photographed Cathy Jaros in the living room of her Chicago condo.