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The article profiles John Arnold, the 35-year-old billionaire natural-gas trader. His fund, Centaurus Energy, manages more than $5 billion in assets and he has shown the ability to extract huge profits from disastrous circumstances. According to the article, Arnold now faces the biggest challenge of his career as the U.S. Commodity Futures Trading Commission (CFTC) plans to impose trading limits that would target the industry's biggest companies. INSET: Master of Disaster.

The article profiles J. Christopher Flowers, owner of J. C. Flowers & Co., a private equity firm which invests in troubled financial companies. Particular attention is given to his struggle with a series of poorly timed investments that he made right before the 2008 financial crisis, such as his $1 billion stake in Japan's Shinsei Bank and in Hypo Real Estate and HSH Borbank, two German banks that have failed. INSET: DEAL OR NO DEAL.

The article discusses over-the-counter derivatives and their role in creating a financial crisis in the U.S. and abroad. The author discusses the collapse of Bear Stearns & Co. Inc. and American International Group Inc. (AIG), noting how the complexity of derivatives makes them difficult to regulate. In her view regulatory proposals under consideration in the U.S. may not prove adequate to the task.

The article discusses Dwight Anderson, manager of the Ospraie hedge fund. Anderson became one of the top performing fund managers in the world by working hard to successfully invest in commodities markets. When the 2008 financial crisis struck, his patient investing strategy worked against him. His investments were meant to be long term investments, but as the market dropped, investors sold their shares, forcing Ospraie to sell at a loss before the investments reached their potential.

The article reports on MasterCard Worldwide. MasterCard's control center for their global-payments network contains analysts monitoring an estimated 20 billion transactions annually in 210 countries. Their MasterCard Advisors staff in New York City also monitors the payment network but in addition looks into surveys and outside data in order to create bulletins on the retail health of the U.S. INSET: THE EVOLUTION OF THE SWIPE.

The article is about Towne Bank, a bank in Arizona that grew rapidly until the 2007 and 2008 collapse of the U.S. banking and credit industry. Home prices in Arizona dropped faster than most regions of the U.S. and Towne Bank was ordered to cease and desist from all lending activity in March 2008 by the U.S. Federal Deposit Insurance Corp. (FDIC).

The article is about the construction of the cruise ship "Oasis of the Seas," by cruise company Royal Caribbean, which will accommodate up to 5,400 passengers. The Oasis will be the world's largest cruise ship when it is completed, and will cost about $1.2 billion. It is being built in the Aker shipyard in Finland.

This article examines Jarden Corp., a conglomerate headed by chief executive officer (CEO) Martin Franklin. It is stated that Jarden Corp. has acquired over one hundred brand names, including Sunbeam Products, Inc., Mr. Coffee, and K2 Inc. It is noted that the corporation is a top supplier to discount retailer Wal-Mart. INSET: OTHER NOTABLE NEWCOMERS.

The article discusses how investor Phil Goldstein became a successful hedge fund manager and continues to pioneer investments in closed-end mutual funds. Goldstein often finds himself battling the U.S. Securities and Exchange Commission and arguing that First Amendment rights are often violated by securities laws. INSET: Getting Started in Closed-End Funds.

The article discusses several of the largest private equity firms. The Carlyle Group has been successful at attracting foreign capital. The Blackstone Group has seen its share price fall 42% since becoming public. Kohlberg Kravis Roberts has delayed plans to become a public company, and holds assets that have suffered from volatile credit markets. Other firms discussed on the list include Bain Capital, Warburg Pincus and TPG. INSETS: LONDON CALLING;BANKS GO QUIET;THE SPECIALISTS.

The article discusses Providence Equity Partners. The firm gained prominence in the private-equity world by arranging the leveraged buyout of Canada's biggest telephone company, BCE Incorporated, in 2007. Chief executive Jonathan Nelson must now meet the challenges of managing a firm that has arisen from relative obscurity to become a sizeable, well-known company. The personality and career background of Nelson, who graduated from Brown University and then Harvard, are discussed.

The author reports that Reliance Industries Ltd. is expanding an oil refinery business located in Jamnagar, India. The refinery is expected to produce more than one million gallons of oil on a daily basis once it is complete. The amount of money that has been spent on the expansion is mentioned, as is the number of people who have worked on the project.

A photo essay which documents the reconstruction efforts at the World Trade Center Site in New York City as of February, 2008 is presented.

The article discusses efforts by energy company Royal Dutch Shell to convert solid oil shale into synthetic fuel that can be converted into gasoline and diesel. Researcher Harold Vinegar works at the company's facility in Rifle, Colorado, said the company is close to achieving its goal. The company could reduce American dependence on foreign sources of energy by producing 2 to 5 million barrels a day by the year 2020. INSET: THE WORLD OF OIL SHALE.

The article discusses the U.S. housing slump in 2007 and projected values for homes by 2012. Data from Property & Portfolio Research and Economy.com allowed the magazine to calculate the ratio of home prices to rents, concluding home values should fall by an average of 28 percent, depending upon the regional market.

The article discusses the athletics programs at the University of Florida. The school has enjoyed unusual success in several sports. Wealthy benefactors have helped build various facilities including football and baseball stadiums. Unlike most university athletic departments, Florida's runs at a surplus. Its budget is the fifth highest in the U.S. with one-third of the funding derived from affluent supporters. Jeremy Foley is the highest paid athletic director in the U.S. INSETS: POWER PLAYERS;BOOSTER SHOTS.

The article looks at ways companies build the reputation for developing talent in leadership positions. Companies must choose assignments for prospective leaders strategically to boost job experience. Promising leaders must be identified early on in their careers, and companies who are adept at building leaders begin to evaluate employees' leadership capabilities from their first day of employment. The use of teams in the leadership development process is becoming recognized as a crucial step. INSETS: 'No Holds Barred';Resource Room.

The article presents a list of "Fortune" magazine's fastest-growing companies for 2007, including Nutrisystem, Hansen Natural, and Arena Resources..

This article presents advice from experts in the financial industry about the subprime lending meltdown and the credit crunch. John Mack, the chairman and chief executive officer (CEO) of Morgan Stanley, says that the market is definitely in a crisis. Warren Buffet, the chairman and CEO of Berkshire Hathaway says that companies are not reporting the truth about market values. Jim Rogers, the founder of Rogers Raw Materials Index says that this is the worst bubble in credit the U.S. has ever had.

The article presents a chart ranking the world's 500 largest corporations, including Wal-Mart, Exxon Mobile, and Royal Dutch Shell.

The article reports on the Republican presidential candidacy of former Massachusetts governor Mitt Romney, with a focus on his business background. His founding of private equity firm Bain Capital is discussed, as is his leadership of the 2002 Winter Olympics. His governorship of Massachusetts and his 2008 U.S. presidential campaign are also covered. INSET: ROMNEY ON BUSINESS.

The article reports on how business leaders are lining up behind Democratic and Republican candidates for the 2008 U.S. presidential election, especially Democratic Senator Hillary Clinton, who has secured the support of a number of corporate Republicans. Clinton's winning over of Morgan Stanley chief executive officer (CEO) John Mack is detailed, and executive endorsements for all the major candidates are listed. INSET: Plum Job: Who'll Be Treasury Secretary?.