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America's Hippest CEO, by Nadira Hira, page 110
Rapper and entrepreneur Jay-Z (a.k.a. Shawn Carter) brings his own style to the corner office at Def Jam. Otherwise known as Shawn Carter, Jay-Z is hip-hop's reigning megastar, a crossover icon who's had 13 top-selling albums, sold more than 33 million records worldwide, co-founded an independent label as well as a clothing company, front-lined the fastest-selling sneaker in Reebok's history, and even taken an ownership stake in the NBA's New Jersey Nets. This year Carter took over as president and CEO of Def Jam records, making an unprecedented move from the recording studio to the corporate suites. Nadira Hira looks at what lies ahead for him in this new—and challenging—role.

Jay-Z on his move to the C-suite: "There's nothing hot about a 45-year-old rapper." On explaining his reasons for going corporate: "I'm doing this for other artists and people in this [hip-hop] culture." And, when playing pool: "You rack on this side?" It's the perfect rock star question. "He doesn't rack much," one of his entourage says.

The 25 People We Envy Most, page 139
FORTUNE profiles 25 people in business and entertainment who are making a mark. "We eschewed the idea of ranking dealmakers and corporate chieftains in terms of raw power and instead chose a slightly different metric: envy," says writer Reed Tucker. "Whose jobs do we covet most? Whose life is so fabulously filled with private jets, mogul confabs, and Cristal-drenched parties that we would ditch our careers in a second to trade places with them?" List features: Sergey Brin and Larry Page, Tiger Woods, Paul Allen, Mario Batali, Mark Burnett, Andy Grove, Anderson Cooper, Jon Stewart, Rick Warren, J.K. Rowling, Theo Epstein, Richard Branson, Gwen Stefani, Bob Costas, Herbert Allen Jr., Brad Grey, Chris Rock, Kelly Ripa, Sean Hannity and Peter Jackson to name a few.

Fairway Fantasy, by David Rynecki, page 98
Reebok's chief executive is building the world's most expensive golf course in full sight of the Manhattan skyline and the Statue of Liberty. Paul Fireman, has spent seven years and $130 million turning a slab of Jersey City industrial blight into a golf course that could rival Augusta or Pebble Beach as one of the nation's finest. It's already made the record books as the most expensive course ever built, and Fireman hopes it will eventually be selected to host a U.S. Open or PGA Championship—making it one of an elite handful of New York-area clubs to share that honor.

Conquer and Divide, by Barney Gimbel, page 175
Suddenly Hyatt is on a building spree. Why? Heirs to the $15 billion empire that owns it want out. Hyatt—the hotel chain built by the Pritzker family—has grown into a $5-billion-a-year global chain famous for its flashy style, high quality, and atrium lobbies. Yet it has never really kept pace with its competitors, and during the past decade, as the lodging industry consolidated and expanded, it largely sat on the sidelines. But that is about to change. In a rare series of interviews, Tom Pritzker broke the family's notorious silence to elaborate on his push for growth.

Portrait of an A-List Artist, by Andy Serwer, page 124
Stephen Hancock's lush landscapes are coveted by an elite clientele of powerful business people and serious art collectors. A large painting of his hangs in the Metropolitan Museum of Art in New York, and the National Gallery just acquired one. Andy Serwer profiles the most famous artist you've never heard of—and looks at a key aspect of his success: befriending his patrons and creating an A-list network that would stand up to that of any CEO or Hollywood superagent.

The Man With the Golden Gut, by Rik Kirkland, page 156
Sheldon Adelson, the shrewdest investors in Las Vegas, has a new bet: turning Macau into the biggest, glitziest gambling mecca the world has ever seen. A brand-new Chinese development, complete with a long boulevard of casinos, hotels, shops, deluxe theaters, the works; this is Adelson's $2 billion Venetian Macau, now under construction—it will boast the world's biggest casino. And though it took 30 years for Vegas to become Vegas, Adelson figures it will take only five for his new project to become Asia's—and the world's—biggest gambling and entertainment mecca.

DEPARTMENTS
In FIRST: Three Cheers for Bankruptcy Today Chapter 11 is just another management tool. That's a good thing. By the Numbers With the Strategic Petroleum Reserve, Bush has bought low and sold high. Ford: The Hamlet of Dearborn CEO Bill Ford is questioning his ability to rescue the automaker. On the Radar The new Chief Justice of the United States, John Roberts, will find some juicy business cases on the docket. The Hottest VC on the Planet Once dismissed for his scattershot approach, Tim Draper is now the talk of Silicon Valley. Puzzling Developments A logic game adds up to big bucks. Can Video Save the Narrowband Star? AOL hopes to reinvent itself as a free Internet portal competing for ads. Its big bet: video. A Painter Is Flat-Out Flimflammed The cover illustration (now yanked) on The World Is Flat turns out to be artwork pilfered in the past. Stuck in a Storm of Controversy Since Katrina, Louisiana's Shaw Group has been sniped at over no-bid contracts. When Celebrity Endorsements Attack! Arranged marriages between brands and celebrities are inherently risky. Question Authority Sony's first non-Japanese CEO, Howard Stringer, on what it will take to turn the company around. In COLUMNISTS: Street Life Do Branson's profits equal his joie de vivre? Brainstorm How shantytowns become real cities. Value Driven Katrina could save us from a fiscal fiasco. In INVESTING: Can the Profit Boom Last? Businesses have been churning out earnings. But with energy prices and interest rates rising and consumer confidence shrinking, tougher times are ahead. Has Fannie Fallen Too Far?The market may have overreacted to the mortgage giant's woes. The Value Case for Microsoft Yes, it has problems. But do the math, and the onetime growth king looks like a buy. Buy Florida Land Cheap! Looking for prime property at a great price? In BUSINESS LIFE: Island Shopping You don't need to be a billionaire recluse to live like one. Islands may be one of the last bastions of affordable real estate. Careers Share power—with losing any.

For further information please contact:
Susan Brown Williams
212-522-0133
susan_williams@timeinc.com

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