The Caste

Column: Meet the men and women who really run the world
2012 Fortune Global Forum / AP

When President Obama greets Chinese leader Xi Jinping at the Sunnylands estate in California today, another, arguably more important meeting will be taking place across the Pacific Ocean, in the central Chinese city of Chengdu. The Fortune Global Forum, an invitation-only conference of Fortune 500 CEOs, Chinese elites, and fashionable journalists, began on June 6 at the Shangri-La luxury hotel along the Jin River. The forum concludes on June 8. If there is an event that better explains the feeling of estrangement and frustration and cynicism ordinary Americans feel toward the men and women who govern and manage them, I can’t think of it.

Katzenberg Finds Chinese Partner

Katzenberg

DreamWorks Animation chief executive officer Jeffrey Katzenberg, President Barack Obama’s biggest supporter, confirmed at the Fortune Global Forum in Chengdu, China, that DreamWorks is partnering with Wanda Group, the largest owner of movie theaters in China.

The California Captivity of the Democratic Party

Column: How Hollywood and Silicon Valley took America
Wikimedia Commons

This is a story about politics and power in the golden land, and it begins with the money. In early May a luxury resort in Laguna Beach, Calif., hosted a five-day semi-annual meeting of the Democracy Alliance, a secret, invitation-only organization of liberal moneybags that since its formation in 2005 has directed some $500 million in contributions to progressive groups. Never has a wolves’ den been so posh.

Chilling Effect

Groups wary of talking about how they were targeted by IRS
Tea Party protest / AP

A long-awaited report by the Treasury Department inspector general confirmed Tuesday that Internal Revenue Service agents targeted Tea Party groups because of their political beliefs. The report said ineffective management allowed IRS agents to single out Tea Party groups applying for tax-exempt status with inappropriate questions and requests.