An Exhilarating Ride
This has been an incredible year for BUSINESS WEEK. Although Y2K produced barely a whimper, the New Year roared in nonetheless with the announcement of the biggest merger ever: America Online Inc. and Time Warner Inc. Now, almost exactly one year later, this week's cover features AOL's Bob Pittman, the man who must help make the deal work. We think you'll enjoy this closeup look at what lies ahead.
The rest of the year turned out to be just as newsworthy. In February, the economic expansion that began in March, 1991, became the longest in history. Our cover, "The Boom," looked presciently at how it could come undone. BUSINESS WEEK has been the leader in coverage of the New Economy, the impact of globalization, and the investment in information technology, and we were early to warn that a New Economy boom could be followed by a New Economy bust.
In late March, we warned that "Wall Street's Hype Machine" might spell trouble for investors. That turned out to be the time of Nasdaq's peak. Our revealing "The Fall of a Dot-Com" cover told the inside story of how one extremely successful initial public offering, Value America Inc., was undone by hype and hubris, despite a "frictionless" business plan.
We covered other crucial trends this past year, from the anxiety over globalization to business bashing, 2000-style. We watched CEOs drop like flies as boards and investors looked for superheroes. We witnessed the orderly selection of successors at General Electric Co. and American Express Co.--and the screwiest U.S. election in history. And our summer double issue took a cosmic look at "The 21st Century Corporation."
Business Week Online, our innovative Web site, was redesigned in 2000, introduced lots of new features, and won the prestigious National Magazine Award for New Media. Our highly successful BUSINESS WEEK e.biz supplement went monthly last fall, complementing our monthly small-business edition, frontier.
On the business side, BUSINESS WEEK had the best year in our history, by far. Our global circulation is the highest ever, nearly 1.2 million--making us the best-selling business magazine in the world. Meanwhile, our advertisers placed more than 6,000 pages in the U.S. alone, also a record.
As the economy and stock market that roared into 2000 now limp into 2001, BUSINESS WEEK will be here every week, with the best reporting, the best analysis, and the best clues to the future.By Stephen B. Shepard, Editor-In-Chief