(FORTUNE Magazine) – Who could have predicted that FORTUNE's Manager of the 20th Century would spend year one of retirement embroiled in a sex scandal? Between consulting and golf, Welch allegedly squeezed in an affair with editor Suzy Wetlaufer, who was interviewing him for the Harvard Business Review. Now he stands to lose millions to his second wife, Jane, who has hired a divorce lawyer. Hey, Jack, here's one from the gut: Next time sign a prenup without an expiration date.

--Julie Schlosser