(FORTUNE Magazine) – EDITOR-IN-CHIEF Jason McManus EDITORIAL DIRECTOR Richard B. Stolley CORPORATE EDITOR Gilbert Rogin

TIME INC. MAGAZINES PRESIDENT Reginald K. Brack Jr. EXECUTIVE VICE PRESIDENTS Donald J. Barr, Donald M. Elliman Jr., S. Christopher Meigher III, Robert L. Miller SENIOR VICE PRESIDENT Richard W. Angle Jr. Founder Henry R. Luce, 1898-1967

MANAGING EDITOR Marshall Loeb EXECUTIVE EDITOR Allan T. Demaree ASSISTANT MANAGING EDITORS Walter Kiechel III, Ann M. Morrison INTERNATIONAL EDITOR Donald D. Holt ART DIRECTOR Margery Peters PICTURE EDITOR Michele F. McNally BOARD OF EDITORS Evelyn Benjamin, Vivian Brownstein, Charles G. Burck, Gene Bylinsky, Geoffrey Colvin, Julie Connelly, John J. Curran, Marta F. Dorion, Edmund Faltermayer, Susan Fraker, Keith R. Johnson, Richard I. Kirkland Jr., Louis Kraar, Kenneth Labich, Colin Leinster, Carol Junge Loomis, Myron Magnet, Jeremy Main, Todd May Jr., Peter Nulty, Peter Petre, Bill Saporito, Stratford P. Sherman, Lee Smith (Washington), Alex Taylor III SENIOR EDITOR John Huey ASSOCIATE EDITORS Kate Ballen, Rosalind Klein Berlin, Erik Calonius (Miami), Susan Caminiti, Ann Reilly Dowd (Washington), Brian Dumaine, Alan Farnham, Jaclyn Fierman, Brett Duval Fromson, Catherine Comes Haight, Gary Hector (San Jose), Ronald Henkoff (Chicago), Paul Hofheinz (Moscow), David Kirkpatrick, Christopher Knowlton (London), Andrew Kupfer, Patricia A. Langan, Alicia Hills Moore, Rob Norton (Washington), Brian O'Reilly, Nancy J. Perry (Los Angeles), Carla Rapoport (Tokyo), Faye Rice, Louis S. Richman, Lenore Schiff, Brenton R. Schlender (San Francisco), Patricia Sellers, Andrew Evan Serwer, Joseph Spiers, Thomas A. Stewart, Shawn Tully, Wilton Woods, Ford S. Worthy (Hong Kong) CONTRIBUTING EDITORS Anne B. Fisher, Daniel Seligman REPORTERS Mark Alpert, Ret Autry, Mark M. Colodny, Alan Deutschman, Andrew Erdman, Mark D. Fefer, Nora E. Field, Sara Hammes, Rahul Jacob, Sandra L. Kirsch, Laurie Kretchmar, Susan E. Kuhn, John Labate, Stephanie Losee, Thomas J. Martin, Joshua Mendes, Antony J. Michels, Susan Moffat (Tokyo), Shelley Neumeier, Karen Nickel, Jung Ah Pak, Terence P. Pare, Suneel Ratan (Washington), Jennifer Reese, William E. Sheeline, Sally Solo, Ricardo Sookdeo, Alison L. Sprout, Richard S. Teitelbaum, Rick Tetzeli, Jessica Skelly von Brachel, Tricia Welsh ART STAFF Joan Hoffman, Renee Klein, Leo F. McCarthy (associate directors), Linda Eckstein, Frances Fifield, Jean Held, Maria Keehan, Nai Lee Lum, Barbara R. Smyth (designers) PHOTOGRAPHY Elizabeth Cheng Krist, Eric Godwin (assistant picture editors), Julie B. Ades, Maureen Duffy Benziger, Christopher E. Green, James M. Tarrant EDITORIAL OPERATIONS Donald G. Biglands (manager), Carol Gwinn (copy chief), Charles Blackwell (deputy), J. Randall Sizemore (technology chief), David Sloan (deputy), Charles J. Attardi, Leslie Brenner, Jonathan Brown, Leon A. Douglas, Edith Firoozi Fried, Scott Kelliher, Daniel Lawrence, Michelle Lockhart, Frances Owles, David V. Rile, Mary Alice Rudovsky, Sara Solberg, Dennis Williams, David Wray

PRODUCTION Guy Gleysteen (operations manager), Thomas C. Colaprico (makeup manager), Karen Rosenberg (deputy) EDITORIAL FINANCIAL MANAGER Eileen Naughton EXECUTIVE ASSISTANTS Anne Gut, Carolyn Sampson EDITORIAL SERVICES Christiana Walford (director)

PUBLISHER James B. Hayes GENERAL MANAGER Gregory J. Zorthian CONSUMER MARKETING DIRECTOR Kenneth Godshall BUSINESS MANAGER Merida Welles PRODUCTION DIRECTOR David L. Smith FORTUNE ENTERPRISES DIRECTOR John S. Needham U.S. ADVERTISING SALES DIRECTOR John E. Jay NATIONAL SALES MANAGER James D. Graham MARKETING DIRECTOR Michael V. Dukmejian PROMOTION DIRECTOR David L. Nimz INTERNATIONAL ADVERTISING DIRECTOR Michael D. Dudler PUBLIC RELATIONS DIRECTOR Emma C. Dockendorff