COVER STORY
Bush's New Reality From peace and prosperity to war and deficits, Bush has had a wrenching first year. Here's how his Presidency will change
COVER IMAGE: Bush's New Reality
TABLE: Hits, Misses, and Moving Targets
TABLE: New Directions
Hardly a Rout in the War on Recession
TABLE: The Economic Team: A First-Year Report Card
SPECIAL REPORT
After Enron, Bracing for a Backlash
The Swamp Fox on Enron's Tail
Commentary: Pitt's Accounting Fix Leaves a Lot Broke
Commentary: A Regulator with His Own Conflicts of Interest
The Man Behind Enron's Deal Machine
RESUME: Andrew Fastow
Commentary: Brutal Honesty Could Force a Market Correction
UP FRONT
Talk Show
Who's Answering AT&T's Phones?
Walter Hewlett's New Pet: Agilent
Charity Toward All, Indeed
More Money Down the Drain
Can the Post Office Do E-Mail?
Bargain-Shopping @ Excite@Home
READERS REPORT
EDS: Setting the Record Straight
They're Not Everyone's Top 25 Managers
A Boon for Tutors--and Test Makers
Consultant, Heal Thyself
A Productivity Gauge That Includes Inflation
Biotech Is More Like the Tortoise Than the Hare
Mayor Bloomberg Needs More Than Luck
CORRECTIONS & CLARIFICATIONS
"Accounting in crisis" (Special Report, Jan. 28, 2002)
TECHNOLOGY & YOU
Big-Screen Just Got a Lot Better
INDUSTRY INSIDER
He's Putting Siemens on the American Map
BOOKS
The Making of a Scapegoat
The BusinessWeek Best-Seller List
ECONOMIC VIEWPOINT
Enron: A Powerful Blow to Market Fundamentalists
ECONOMIC TRENDS
At Last, Respect for the Euro?
No Doctor in the House
Bankruptcies--Not Over Yet
BUSINESS OUTLOOK
U.S.: Will There Be a Second Dip in the Recession?
Italy: Reports of a Recovery May Be Exaggerated
IN BUSINESS THIS WEEK
Craig Venter: Decoupling a Gene Decoder
A Fast Break from McDonald's
Making Peace at Credit Suisse
Compaq Is in the Black
Weldon Gets the Nod at J&J
Wozniak and a Fledgling Woz
Et Cetera...
Timber!
INTERNATIONAL BUSINESS
The Bank of China's Black Hole
South Korea: A Nation of Digital Guinea Pigs
Suddenly Europe's Bosses Are Up in Arms
Can Spain's Reform Guru Spread the Faith?
INTERNATIONAL OUTLOOK
Will Zimbabwe Drag Down Its Neighbors?
Adios to a Latin Trade Pact?
SPORTS BUSINESS
Super Bowl XXXVI: Not-So-Super Ad Sales
Fewer Corks Will Be Popping at This Olympics
INFORMATION TECHNOLOGY
How Amazon Cleared the Profitability Hurdle
Has Microsoft Met Its Match?
DEVELOPMENTS TO WATCH
A Chain Drive for the World's Tiniest Motors
Protein Analysis Just Got Easier
How to Kick Creepy-Crawlies out of the Ballast
Innovations
SCIENCE & TECHNOLOGY
ImClone: A Real Blowup in Biotech
GOVERNMENT
New York: A Day Late and $4 Billion Short
THE CORPORATION
Commentary: Why Tyco Quit Dealmaking
What to Look for in Tyco's Numbers
Commentary: Attention Kmart: Find a Niche
FINANCE
Should You Follow the Insiders?
A Big Crimp in Cash Flow
Running for Coverage
Commentary: This Stock May Harm Your Portfolio's Health
MUTUAL FUND SCOREBOARD
That Old Bond Magic May Not Last
BUSINESSWEEK INVESTOR
The Fine Print: How to Read Those Key Footnotes
Bond Funds: Many Worlds to Watch
RESUME: Mohamed El-Erian
The Sisterhood in Private Banking
THE BARKER PORTFOLIO
Why PayPal Might Not Pay Off
INSIDE WALL STREET
Big Bets on Scientific
Storage Computer Fights the Goliaths
Windfall Ahead at LendingTree?
FIGURES OF THE WEEK
Figures of the Week (.pdf)
EDITORIALS
The Post-Enron World
INTERNATIONAL -- READERS REPORT
Indian Democracy Is Right for Kashmir
Inflation: The Cure for Japan's Woes
Rich Nations, Poor Nations--and Health
INTERNATIONAL -- ASIAN BUSINESS
Southeast Asia: Terror's New Front
The End of Guanxi Capitalism?
INTERNATIONAL -- EUROPEAN BUSINESS
It's Raining Hard on Club Med
A U.S. Raider's "Iron Fist in a Velvet Glove"
INTERNATIONAL -- FINANCE
Offshore Funds: Catching the Wind
"It Was a Rough Ride until the End of September"
A Rumble over Banking Risk
These Rules Could Stall Germany's Job Engine
Argentina: Don't Bank on an Export Boom
INTERNATIONAL -- INT'L FIGURES OF THE WEEK
International Figures of the Week (.pdf)
Online Highlights
from this issue
Magazine Forums
Cover by Chris Usher/Apix
RECENT ISSUES
Accounting in Crisis
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Bonds Lose a Little Luster
Mutual funds investing in bonds should still do well -- but don't expect the high returns of the past two years, says BW's Mara Der Hovanesian
Double-Dip Recession?
If consumer spending slows, the U.S. could have a W-shaped recession -- and a delayed recovery, says BW's Kathleen Madigan
Reading the Charts
S&P's Mark Arbeter tells why the S&P 500 and Nasdaq will trade sideways in the near term -- and when they will turn higher
SPECIAL REPORTS
The IT 100 Emerging-market cellular players, wireless phone and gear makers, and Web giants are this year's stars
Math's New Era
More math geeks are calling the shots in business. Is your industry next?
Tech Trends 2006
The war for the digital home, social networks, Vista, game consoles, tech hiring, and more
Dream Machines
Auto makers are innovating at full speed -- and giving buyers the power to shape their vehicles
2006 Investment Outlook
Prospects are basically positive: Growth is brisk and corporate profits are climbing
Battling Global Warming
How top companies are reducing emissions of CO2 and other greenhouse gases
What's Hot at CES
What's on tap at the big Consumer Electronics Show? A slew of new flat-panel sets and falling prices
Tech Buying Guide
Products for the digital home: HDTV, Wi-Fi cameras, iPod-run home audio and more
Next for Apple...
How can Jobs & Co. keep its lead? Here are some possibilities
Best of the Web
No longer for idle wanderings or passive viewing, the Web is about socializing, sharing -- and creating
Open Source: The Next Generation
Now it's an ecosystem -- and VCs are eager to help
Global Brands
The companies that best built their images -- and made them stick
Europe's Hot Growth 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
More Special Reports