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Encyclopedia > Fortune (magazine)

Fortune magazine is America's second longest-running business magazine after Forbes magazine. Henry Luce founded the magazine in 1930. His publishing business, consisting of Time, Life, Fortune, and Sports Illustrated, grew to become Time Warner, the world's largest media conglomerate, before it was acquired by AOL in 2000.[1] Fortune is especially known for its annual features ranking companies by revenue. Image File history File links Fortune_g500_cover06. ... Motto: (Out Of Many, One) (traditional) In God We Trust (1956 to date) Anthem: The Star-Spangled Banner Capital Washington D.C. Largest city New York City None at federal level (English de facto) Government Federal constitutional republic  - President George Walker Bush (R)  - Vice President Dick Cheney (R) Independence from... Wall Street, Manhattan is the location of the New York Stock Exchange and is often used as a symbol for the world of business. ... This article is about the magazine as a published medium. ... Forbes Building on Fifth Avenue in New York City Forbes is a publishing and media company. ... Henry Robinson Luce (April 3, 1898 - February 28, 1967) was an influential American publisher. ... Year 1930 (MCMXXX) was a common year starting on Wednesday (link is to a full 1930 calendar). ... Time Warner Inc. ... It has been suggested that Media Institution be merged into this article or section. ... Screenshot of AOL.com AOL LLC (formerly America Online, Inc) is an American online service provider, bulletin board system, and media company operated by Time Warner. ...

Contents

History and organization

December 1941 issue
December 1941 issue

Fortune was founded by Time co-founder Henry Luce in February 1930, four months after the Wall Street Crash of 1929 that marked the outset of the Great Depression. Briton Hadden, Luce's partner, wasn't enthusiastic about the idea, but Luce went forward with it after Hadden's October 15, 1929 death (of streptococcus).[2] Image File history File links Fortune-1941-6. ... Image File history File links Fortune-1941-6. ... (Clockwise from upper left) Time magazine covers from May 7, 1945; July 25, 1969; December 31, 1999; September 14, 2001; and April 21, 2003. ... Year 1930 (MCMXXX) was a common year starting on Wednesday (link is to a full 1930 calendar). ... The The Wall Street Crash of 1929, also called the Great Crash or the Crash of 29, was the stock-market crash that occurred in late October 1929. ... The Great Depression was an economic downturn which started in 1929 and lasted through most of the 1930s. ... October 15 is the 288th day of the year (289th in leap years). ... 1929 (MCMXXIX) was a common year starting on Tuesday (link will take you to calendar). ...


Luce wrote a memo to the Time, Inc. board in November 1929, "We will not be over-optimistic. We will recognize that this business slump may last as long as an entire year."[3]


Single copies of that first issue cost $1 at a time when the Sunday New York Times was only 5c.[3] At a time when business publications were little more than numbers and statistics printed in black and white, Fortune was an oversized 11"x14", using creamy heavy paper, and great art on a cover printed by a special process.[4] Fortune was also noted for its photography, featuring the work of Margaret Bourke White and others. Walker Evans served as its photography editor from 1945-1965. The New York Times is an internationally known daily newspaper published in New York City and distributed in the United States and many other nations worldwide. ... Walker Evans Walker Evans (November 3, 1903 – April 10, 1975) was an American photographer made famous by his work for the Farm Security Administration documenting the effects of the Great Depression. ...


An urban legend says that art director T M Clelland mocked up the cover of the first issue with the $1 price because nobody had yet decided how much to charge; the magazine was printed before anyone realized it, and when people saw it for sale, they thought that the magazine must really have worthwhile content. In fact, there were 30,000 subscribers who'd already signed up to receive that initial 184-page issue.[4], Fortune claims their circulation has risen from 833,000[5] to 857,000[6] in that period.


A theme of Fortune is its regular publishing of researched and ranked lists. In the human resources field, for example, their Best Companies to Work For list is an industry benchmark. Its most famous lists rank companies by gross revenue and profile their businesses: Human resources has at least two meanings depending on context. ... For the tax agency in the UK of the same name , see HM Revenue and Customs. ...

In August 2006, CNNMoney.com published a feature from Fortune magazine which recommended books and websites focused on the world's top five companies, as ranked in the "Fortune Global 500". In a novel twist, each company website was featured alongside a website taking a critical view of the company's activities. For example, the recommended websites for Royal Dutch Shell, listed as number 3 in the rankings, was Shell's own portal website shell.com along with royaldutchshellplc.com which focuses on alleged negative aspects of the oil giant. The unstated but logical purpose of the recommendations was to allow the public, investors and shareholders to arrive at a balanced view of each company, taking into account the positive and negative information available from the recommended websites. The Fortune 500 is a ranking of the top 500 United States corporations as measured by gross revenue. ... Fortune 1000 is a reference to a list maintained by the American business magazine Fortune. ... The Fortune Global 500 is a ranking of the top 500 corporations as measured by revenue. ... This article or section may contain original research or unverified claims. ...


Trivia

  • Enron was named "most innovative company in America" for the sixth consecutive year by FORTUNE Magazine in 2001.
  • FORTUNE conducts a survey each year for the top 100 places to work in America, the 2007 winner was Google. The 2006 winner was Genentech located in South San Francisco.

Enron Corporation was an American energy company based in Houston, Texas. ... Google, Inc. ... Genentech, Inc. ... South San Francisco is a city located in San Mateo County, California. ...

See also

The FORTUNE Battle of the Corporate Bands is an annual national music competition, started in 2001, for amateur company bands and musicians. ...

External links

References

  1. ^ AOL Eats Time Warner
  2. ^ Henry Luce & His Time by Joseph Epstein, Commentary, Vol. 44, No. 5, November 1967
  3. ^ a b How the world works
  4. ^ a b Background
  5. ^ Circulation trends
  6. ^ Fortune media kit

  Results from FactBites:
 
Fortune Magazine Subscription - Business & Finance - Magazines.com Magazine Subscriptions (319 words)
More About Fortune: Fortune Magazine was originally published in 1930 and was the first business journal in America.
Fortune is published every two weeks by Time Inc. who also publishes Money, Time, and Business 2.0.
Fortune is most famous for its annual lists: the Fortune 500 and the Fortune 1000 (the top ranking public corporations based on a measure of gross revenue) as well, the Fortune Global 500 lists the top ranking international companies.
[Fortune (magazine)] | [All the best Fortune (magazine) resources at gardening.velocityincome.com] (1125 words)
Allan Sloan from Fortune magazine argues that Bernanke is the enemy of the prudent investor.
Fortune magazine is an American business magazine founded by Henry Luce in 1930.
Fortune was founded by Time co-founder Henry Luce in February 1930, four months after the Wall Street Crash of 1929 that marked the outset of the Great Depression.
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