Fortune (magazine)

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Fortune (magazine)

Fortune is a global

International

International or internationally most often describes interaction between nations, or encompassing two or more nations, constituting a group or association having members in two or more nations, or generally reaching beyond national boundaries....
business

Business

A business is a legally recognized organization designed to provide good s and/or Service to consumers. Businesses are predominant in capitalism economies, most being privately owned and formed to earn profit that will increase the wealth of its owners....
magazine

Magazine

for quarterly in Heraldry see Quartering Magazines, periodicals, glossies or serials are publications, generally published on a regular schedule, containing a variety of Article , generally financed by advertising, by a purchase price, by pre-paid magazine subscription, or all three....
published by Time Inc.'s

Time Inc.

Time Inc. is a major subsidiary of the media conglomerate Time Warner, the company formed by the 1990 merger of Time Inc. and Warner Communications....
Fortune|Money Group. Founded by Henry Luce

Henry Luce

Henry Robinson Luce was an influential United States publisher....
in 1930, the publishing business, consisting of Time, Life
Life (magazine)

File:Coles Phillips2 Life.jpgLife generally refers to three United States magazines:*A humor and general interest magazine published from 1883 to 1936....
, Fortune, and Sports Illustrated
Sports Illustrated

Sports Illustrated is an United States sports magazine owned by Mass media conglomerate Time Warner. It has over 3 million subscribers and is read by 23 million adults each week, including over 18 million men, 19% of the adult males in the United States....
, grew to become Time Warner

Time Warner

Time Warner Inc. is the world's third largest media and entertainment Conglomerate by market capitalization , headquartered in the Time Warner Center in New York City....
. In turn, AOL

AOL

AOL LLC is an United States global Internet services and media company operated by Time Warner and was headquartered in Loudoun County, Virginia until late April 2008 when it was moved to new offices at 770 Broadway in New York City....
grew as it acquired Time Warner in 2000 when Time Warner was the world's largest media conglomerate

Media conglomerate

A media conglomerate describes companies that own large numbers of companies in various mass media such as television, radio, publishing, movies, and the Internet....
. Fortune's primary competitors in the national business magazine category are Forbes

Forbes

Forbes is an United States publishing and mass media company. Its flagship publication, Forbes magazine, is published bi-weekly. Its primary competitors in the national business magazine category are Fortune , which is also published bi-weekly, and Business Week....
, which is also published bi-weekly, and BusinessWeek

BusinessWeek

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History and organization

Fortune was founded by Time
Time (magazine)

Time is a weekly United States newsmagazine, similar to Newsweek and U.S. News & World Report. A European edition is published from London....
co-founder Henry Booth Luce in February 1930, four months after the Wall Street Crash of 1929

Wall Street Crash of 1929

The Wall Street Crash of 1929, also known as the Great Crash, was the most devastating stock market crash in the history of the United States, taking into consideration the full extent and longevity of its fallout....
that marked the onset of the Great Depression

Great Depression

File:International depression.pngThe Great Depression was a worldwide economic Recession starting in most places in 1929 and ending at different times in the 1930s or early 1940s for different countries....
. Briton Hadden

Briton Hadden

Briton Hadden was the co-founder of Time Magazine with his Yale University classmate Henry Luce. He was Time's first editor and the inventor of its revolutionary writing style, known as Timestyle....
, Luce's partner, wasn't enthusiastic about the idea, but Luce went forward with it after Hadden's February 27, 1929 death (probably of septicemia).

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."

Single copies of that first issue cost $1 at a time when the Sunday New York Times was only 5c. 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 art on a cover printed by a special process. Fortune was also noted for its photography, featuring the work of Margaret Bourke-White

Margaret Bourke-White

Margaret Bourke-White was an United States list of photographers and photojournalism....
and others. Walker Evans

Walker Evans

Walker Evans was an United States Photography best known for his work for the Farm Security Administration documenting the effects of the Great Depression....
served as its photography editor from 1945-1965.

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.

During the Great Depression

Great Depression

Walker Evans

Walker Evans was an United States Photography best known for his work for the Farm Security Administration documenting the effects of the Great Depression....
and Margaret Bourke-White

Margaret Bourke-White

Margaret Bourke-White was an United States list of photographers and photojournalism....
's color photographs, and for a team of writers including James Agee

James Agee

James Rufus Agee was an United States author, journalist, poet, screenwriter and film critic. In the 1940s, he was one of the most influential film critics in the U.S....
, Archibald MacLeish

Archibald MacLeish

Archibald MacLeish was an American poet, writer and the Librarian of Congress. He is associated with the modernism school of poetry. He has received three Pulitzer Prizes for his work....
, John Kenneth Galbraith

John Kenneth Galbraith

John Kenneth "Ken" Galbraith, Order of Canada was a Canadian-American economics. He was a Keynesian economics and an institutional economics, a leading proponent of 20th-century American liberalism and Progressivism in the United States....
, and Alfred Kazin

Alfred Kazin

Alfred Kazin was an United States writer and literary critic, many of whose writings depicted the immigrant experience in early twentieth century America....
, hired specifically for their writing abilities.

Fortune became an important leg of Luce's Time/Life media empire, which has grown to become Time Warner

Time Warner

Time Warner Inc. is the world's third largest media and entertainment Conglomerate by market capitalization , headquartered in the Time Warner Center in New York City....
. For many years Fortune was published as a monthly, but , it is published biweekly. It considers its purview the entire field of business, including the people, trends, companies, and ideas that characterize modern business.

Marshall Loeb

Marshall Loeb

Marshall Loeb is an United States author, editor, commentator and columnist specializing in business matters, who spent 38 years in the Time Inc....
was named managing editor in 1986 and stepped down in May 1994 upon hitting Time Inc.

Time Inc.

Time Inc. is a major subsidiary of the media conglomerate Time Warner, the company formed by the 1990 merger of Time Inc. and Warner Communications....
's mandatory retirement age of 65, to be replaced by Walter Kiechel 3d, an executive editor at the publication. During his tenure at Fortune, Loeb was credited with expanding the traditional focus on business and the economy with added graphs, charts and tables, as well as the addition of articles on topics such as executive life, and social issues connected to the world of business, such as the effectiveness of public schools and on homelessness.

While circulation of the business magazines sector has apparently slumped since 2000., Fortune claims their circulation has risen from 833,000 to 857,000 in that period.

Fortune lists

A theme of Fortune is its regular publishing of researched and ranked lists. In the human resources

Human resources

Human resources is a term with which organizations describe the combination of traditionally administrative personnel functions with performance, Employee Relations and Resource planning....
field, for example, their list is an industry benchmark. Its most famous lists rank companies by gross revenue and profile their businesses:

Fortune 500
Fortune 500

The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 United States public corporations as measured by their gross revenue, although Fortune makes adjustments to the revenue for a number of companies, particularly to exclude the impact of excise taxes companies collect....
Fortune 1000
Fortune 1000

Fortune 1000 is a reference to a list maintained by the American business magazine Fortune . The list is of the 1000 largest American companies, ranked on revenues alone....
Fortune Global 500
Fortune Global 500

The Fortune Global 500 is a ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by Fortune magazine....
Fortune 100 Best Companies To Work For
Fortune America's Most Admired Companies
Fortune Global Most Admired Company

Fortune (magazine)

History and organization

Fortune lists

Fortune on CNNMoney.com

See also

External links