COVER STORY The Painful Truth about Profits Corporate America must slash more costs before earnings rise very far COVER IMAGE: The Painful Truth about Profits CHART: The Profit Boom of the 1990s: Hard to Repeat? CHART: The Drag on Profits GRAPHIC: How Options Sapped Profits INTERNATIONAL -- INT'L COVER STORY Saving Ericsson The giant's fall was dizzying. Just as fast, Kurt Hellström must redesign the company or see it slam to earth SPECIAL REPORT -- BW/ARCHITECTURAL RECORD AWARDS Winning Workplaces UP FRONT Talk Show In the Sniper Zone, Deliveries Rise Cleaner Air--Kyoto or Not How Air Force One Let Bush Down China: Keeping Asia Aloft Three Tightwad Amigos Ride Again Fantasy Teams, Real Profits READERS REPORT Tallying the Value of Mergers Making the Poor Poorer Why CEOs Won't Be Any Help The View from El Paso A Better Read on How Schools Are Doing Similar Credit Ratings, Different Risks CORRECTIONS & CLARIFICATIONS "The best B-schools" (Special Report, Oct. 21, 2002) BOOKS The Power and the Privilege The BusinessWeek Best-Seller List TECHNOLOGY & YOU How to Achieve Digital Nirvana ECONOMIC VIEWPOINT Bush's Economic Policies: The Bull's-Eyes and Busts BUSINESS OUTLOOK U.S.: The Hot-and-Cold Recovery Could Warm Up Soon The Euro Zone: Will the Central Bank Give Germany a Break? NEWS: ANALYSIS & COMMENTARY A Lost Generation of Job Seekers? COMMENTARY: Women Work. The Support System Doesn't The Bill Comes Due for Capital One Earnings: Sound and Fury, and Not Much Else Corporate America's Crunched Numbers The Dems: It's Time for Triage Edison: An "F" in Finance Commentary: Why Tech's Heavyweights Still Can't Crush the Small Fry The Humble Handheld: A Laptop Killer? IN BUSINESS THIS WEEK Paul Allen: One Troubled Cable Guy AOL's Accounting Woes: No Big Deal? United May Yet Avoid Bailing Out Parched at Texas Instruments New Guidelines for Bean Counters Martha in the Mire Et Cetera... Downer WASHINGTON OUTLOOK Desperately Seeking Some Traction from "NASCAR Democrats" Wooing Webster War Boomerang The Rudy Factor INTERNATIONAL BUSINESS Rethinking Tokyo Commentary: North Korea: Why Diplomacy Is Bush's Only Weapon Meet the New Global Grain Giant INTERNATIONAL OUTLOOK The Man Who May Determine Whether the U.S. Attacks Iraq Iraq's fate -- and U.S. war plans -- could depend on how the UN's Hans Blix handles the challenge of arms inspection Industrial Icon in Trouble INFORMATION TECHNOLOGY Did Peregrine Bully Its Partners? SPORTS BUSINESS The Olympics: A Man, a Plan, New York PEOPLE No Nerd at Intel's Top? Heresy! GOVERNMENT Commentary: Before You Reform Wall Street, Reform Yourselves FINANCE Qwest: What Did Phil Know? Schwab: Closed Eyes, Open Wallet MANAGEMENT He Collects Butterflies--and Companies SCIENCE & TECHNOLOGY Chips on Monster Wafers Dawn of the Superchip THE CORPORATION How Nike Got Its Game Back BUSINESSWEEK INVESTOR Free-Range Funds That Outrun the Bear Mortgage Funds: From Heroes to Bums? It May Be Time to Unload That Warhol BUSINESSWEEK LIFESTYLE Walk Softly, and Bring Binoculars Montreal's Icy Sparkle THE BARKER PORTFOLIO My Favorite Mutual Fund INSIDE WALL STREET S&P Says: Going Up Is Mesa Set to Fly Higher Still? NCO May Be Going After Tax Deadbeats FIGURES OF THE WEEK Figures of the Week (.pdf) EDITORIALS Profits: No Pain, No Gain Is Washington Just Faking It? INTERNATIONAL -- READERS REPORT Easing the Plight of the Poor Another Take on the Oldest Profession INTERNATIONAL -- CORRECTIONS & CLARIFICATIONS "The top global B-schools" ("The best B-schools," Special Report, Oct. 21, 2002) INTERNATIONAL -- ASIAN BUSINESS The Philippines: The Price of Terror Futurama at Sanyo INTERNATIONAL -- EUROPEAN BUSINESS Shining amid Europe's Gloom Despite a lukewarm economy, these European outfits have achieved the stability it takes to thrive Luxury Goods: The Timing Couldn't Have Been Worse Commentary: Is Germany Fast Turning into Another Japan? Germans fear that their country could go down the road of chronic deflation and economic hopelessness, too INTERNATIONAL -- LATIN AMERICA Lula: Seeing Eye to Eye with Business INTERNATIONAL -- EUROPE'S BEST FUNDS Mining the Silver Lining Revenge of the Goldbugs Offshore Fund Scoreboard (.pdf) INTERNATIONAL -- INT'L FIGURES OF THE WEEK International Figures of the Week (.pdf) INTERNATIONAL -- EDITORIALS EU Expansion Isn't a Done Deal
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Cover by David Plunkert
International Cover Photograph by Claudio Bresciani/Scanpix
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