COVER STORY
Accounting in Crisis
Enron is the latest in a string of accounting disasters that highlight the need for profound change that the industry itself is unlikely to address. Here's what needs to be done
COVER IMAGE: Accounting in Crisis
UP FRONT
Talk Show
Why Chainsaw Al Opened His Wallet
Hewlett: Show Me Carly's Money
Who Gets Disaster Aid? Who Doesn't?
One Currency, Many Pink Slips?
A Media Watchdog Gets to Bark Again
At Last, Tax Breaks for Tummy Tucks
READERS REPORT
Gazing into the Stock Market
Why Willamette Isn't Giving in
CORRECTIONS & CLARIFICATIONS
"Acacia is all set to blossom" (Inside Wall Street, Dec. 31, 2001)
BOOKS
How the Islamic World Lost Its Edge
A Savory Story
China: The Facts
LETTER FROM WALES
Who Said Self-Rule Would Be Easy?
TECHNOLOGY & YOU
Is There Life outside Microsoft Office?
ECONOMIC VIEWPOINT
Let's End Our Dangerous Dependence on the Saudis
ECONOMIC TRENDS
Hourly Wages Are Up. So What?
No Confidence in These Indexes
From America: Boom--and Bust
BUSINESS OUTLOOK
U.S.: Don't Be Fooled by the Bounceback from September 11
Russia: If Reforms Continue, So Will Growth
IN BUSINESS THIS WEEK
Robert Willumstad: The Citi after Sandy?
MGM: On the Block or on the Prowl?
An Intel Insider Moves Up
Taking Aim at Tyco--Again
A WTO Blow for Uncle Sam
Deflating Those Pro Forma Figures
Et Cetera...
Falling Dow
WASHINGTON OUTLOOK
Why High Tech Has Fallen Off Washington's A-List
Stimulus Hits a Snag
A Perfect 10
More Bucks for the FDA
INTERNATIONAL BUSINESS
China's Banks under a Cloud
Making Over YSL Is No Stroll Down the Catwalk
Freddy Heineken's Recipe May Be Scrapped
INTERNATIONAL OUTLOOK
Pakistan: So Far, Musharraf Is Playing a Clever Hand
French Magistrates Protest
Japanese Donor Fatigue?
SPECIAL REPORT
The Best Mutual Funds
When the Manager Takes a Hike
SPORTS BUSINESS
The Egghead in the Eagles' Owner's Box
RESUME: Jeffrey Lurie
SOCIAL ISSUES
Commentary: The New Power Play in Health Care
FINANCE
Insurance: A New Way to Squeeze the Weak?
Andrx: Is Wall Street Blinded by Love?
INDUSTRIES
Attack of the Killer Crossover Cars
MANAGEMENT
Q&A: A Talk with Jeff Immelt
THE CORPORATION
Kmart: The Flood Waters Are Rising
DEVELOPMENTS TO WATCH
Another Step Closer to an AIDS Vaccine
A Way to Guide Tiny Satellites into Port
This Spermicide May Zap Viruses, Too
Innovations
ECONOMICS
Commentary: Deregulation: Innovation vs. Stability
BUSINESSWEEK INVESTOR -- YOUR TAXES
BusinessWeek Investor -- Your Taxes
Are your ready for the new tax-law changes? This year you can take more deductions for retirement savings, adoptions, and college. Plus: Insurance tax breaks for execs; Less pain in capital gains; and much more
INSIDE WALL STREET
Any Sweet Offers?
Solectron May Be Set to Hum Again
NMT: Patching Up Holes in the Heart
FIGURES OF THE WEEK
Figures of the Week (.pdf)
EDITORIALS
How to Prevent Future Enrons...
...And Campaign-Finance Shenanigans
INTERNATIONAL -- READERS REPORT
A Level Playing Field Improves the Competition
What Can We Learn from the Enron Debacle?
Cutting the Cozy Ties That Lead to Trouble
Excite@Home and AT&T's Common Problem: Armstrong
Biotech Is More Like the Tortoise Than the Hare
INTERNATIONAL -- ASIAN BUSINESS
Taiwan: Lots of Pain, Not Much Gain
Cleaning Up Singapore's Shipyards
Commentary: Why Japan Shouldn't Throw This Giant a Lifeline
INTERNATIONAL -- EUROPEAN BUSINESS
High Noon for Schröder
INTERNATIONAL -- FINANCE
Why Seoul Can't Let Go of Its Banks
Can Bayer Cure Its Own Headache?
INTERNATIONAL -- INT'L FIGURES OF THE WEEK
International Figures of the Week (.pdf)
INTERNATIONAL -- EDITORIALS
Something Is Rotten in China's Banks
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 Online Highlights
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Magazine Forums
Cover by Mark Beckelman
with apologies to M.C. Escher
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Picking Up After Enron
The blame from the energy giant's flameout is so widespread, new rules are called for, says BW's Bruce Nussbaum
GAAP's Black Eye
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SPECIAL REPORTS
The IT 100
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Math's New Era
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Tech Trends 2006
The war for the digital home, social networks, Vista, game consoles, tech hiring, and more
Dream Machines
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2006 Investment Outlook
Prospects are basically positive: Growth is brisk and corporate profits are climbing
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Best of the Web
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Open Source:
The Next Generation
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Global Brands
The companies that best built their images -- and made them stick
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Companies
High taxes, rigid rules, and elusive capital aren't stopping these powerhouses
China and India
The balance of power will shift to the East as China and India evolve
Stars of Europe
25 leaders at the forefront of change
Stars of Asia
The 2005 lineup reflects the growing importance of China and India
EMBA Rankings
Northwestern's Kellogg School solidified its hold on the No. 1 spot
Head of the Class
Ranking B-school executive education
Winners
The best product designs of 2005 from the Industrial Design Excellence Awards
Hot Growth
Talent, teamwork, and creativity powered this year's list of the 100 best small companies
The BW50
Our 2005 picks for the top performers among the S&P 500
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