Business can be just as much fun as sports, we hear. Fortune magazine has a new editorial feature where the editors each select their dream team, fantasy football-style, of business executives, including the top CEO, CFO, CIO, CMO from corporations. Readers can also vote in a poll using a code from the magazine between these five major players:

• J.P. Morgan’s Jamie Dimon
• Apple’s Steve Jobs
• McDonald’s Jim Skinner
• IBM’s Sam Palmisano
• PepsiCo’s Indra Nooyi

How to choose?! Our instinct is to go with Steve Jobs, just because his company is the coolest. But there’s a lot more to it than that.  Fortune editor-at-large Geoff Colvin introduces the feature in a column this week, called “What Makes a CEO an MVP?” He gives a little more background on their pros and cons. IBM’s Palmisano can “change strategies and business models” in a shifting market. J.P. Morgan’s Dimon can handle the government. And McDonald’s Skinner kept up profits in a recession. Decisions, decisions… Okay fine: Steve Jobs, but we’ll sub in Skinner if things get rough.

Here’s a look at what FishbowlNY stories made the most buzz this week.

1. White House Adds New Position to Deal with Unfavorable Online Media, May 23
2. People.com Editor Comes Out as Transgender, May 20
3. Did Someone Pay for the Leaked Sarah Palin Twitter Story? May 24
4. Women Like The Nook, Men, The iPad, May 23
5. USA Network Takes Over Entire New Yorker Issue, May 23
6. Fortune Magazine Honors the Most Powerful Women, May 25
7. Every Ebony Issue from 1959 to 2008 Now Online, May 20
8. Does Adweek Have a Problem with Female Editors? May 24
9. Disney to Withdraw ‘Seal Team 6′ Trademark Applications, May 25
10. 1050 ESPN’s Jared Max Opens Up on Being Gay, May 24

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Jemal Countess/Getty Images.

Last night was Fortune magazine’s dinner for its “Most Powerful Women,” and it was a gathering of some of the most accomplished women in their fields. Among the leaders were Xerox CEO Ursula Burns, Wal-Mart Chief People Officer Susan Chambers, and Google VP Marissa Mayer. Also in attendance at the star-studded affair were Fortune‘s managing editor Andy Serwer, Chelsea Clinton, pictured right, Barbara Bush, Barbara Walters, and Meredith Whitney.

The key purpose of the event was not just to honor these female leaders in the field, but to introduce 26 younger women, all of whom are rising stars in developing nations, and who are currently being mentored in a global program that Fortune runs in partnership with the U.S. State Department.

The headline interview was between Patricia Sellers and Ursula Burns about Burns’ amazing journey from being an intern at Xerox to ultimately its CEO, making her the first black female CEO of a Fortune 500 company. Her advice to the mentees? “Do what you love.”

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Fortune has released its annual Fortune 500 list today, and for the second year in a row, the Wal-Mart empire tops the list, earning profits of over $16 billion last year. So yes, people really do like shopping for tubs of vaseline, tires, frozen pizzas, band-aids and beer all in one place.

As for locally, New York is the most represented city on the list, with 45 companies. The highest city-based company on the list is JP Morgan Chase, at number 13. News Corp. is the highest ranking New York media company, coming in at 83rd place.

Check out the full list here.

Fortune is taking a different route than most magazines: It’s launching a web app instead of a platform specific app. Called Fortune500+, the web app works across all Internet browsers, unlike apps that are built with something specific in mind, like an iPhone or a tablet.

Ad Age reports that Fortune500+ will launch tomorrow and offer users information on companies, such as where they rank in the 500 listing, and live headlines related to each business.

Who knows if people will actually use this, but maybe because it’s for something so specific, it will be a hit with Fortune readers. It’s worth a try.

In next Monday’s issue of Fortune, Senior Writer Jessi Hempel takes a look at the internal struggles impacting Twitter, and reveals a company – despite huge potential – that appears to be going nowhere.

According to Hempel, the problem is that Twitter’s leadership is in a constant state of disarray. As company board member Peter Fenton explains, “The act of getting from there [the beginning of the site] to here was violent. We’ve had a revolving door of senior leaders who leave.”

But that’s not the biggest revelation from the piece. The part that caught our eyes was this:

Last fall Microsoft, Google, and Facebook itself all considered buying the company. Microsoft never made an offer, according to sources, but Facebook is believed to have offered $2 billion for Twitter, and Google, by far the most serious, offered as much as $10 billion.

That’s right, Twitter turned down a $10 billion deal. Not million, billion! It’s hard to believe the company will ever get an offer like that again. But hey, look at that semi-annoying tweet Ashton Kutcher just wrote! That’s what the site is all about, not making tons of money. Right?

In the upcoming issue of Fortune, Conan O’Brien talks about his departure from NBC (because he hasn’t talked about it enough – sorry, feuding millionaires don’t interest FishbowlNY) and how he’s moved from TV to being a multimedia brand.

In the piece by Douglas Alden Warshaw, O’Brien says that when he initially signed up for Twitter, NBC wasn’t happy, and he thought that was fantastic news. “Tell them I would be thrilled if they shut down my Twitter account,” he recalled saying. “I’d love it if that got out. You think PR’s been bad up till now? Wait till you take away my Twitter account.”

O’Brien also explains how he decided to start a second company, called Team Coco, to help spread his influence online. TBS funds part of the expenses and shares any profits received. The company, consisting of eight people, attempts to get O’Brien’s content to as many people as possible. O’Brien says this is the way TV shows can be successful:

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So the exciting news today is the new Bloomberg LP-owned BusinessWeek, which laid off so many back in October, now officially includes some big-name new hires, the biggest of which may be Hugo Lindgren as executive editor.

Bloomberg BusinessWeek‘s steal of New York magazine’s editorial director is surprising, as Lindgren was Adam Moss‘ right hand man. He’ll begin his new role on March 8.

Also on the Josh Tyrangiel-assembled dream team is Eric Pooley, formerly managing editor of Fortune, who will be taking on the position of deputy editor at Bloomberg BusinessWeek. Ellen Pollock and Ciro Scotti remain the two holdovers from the original magazine to round out the top editorial roster.

Of the staffing announcements made today, Slate‘s James Ledbetter said, “It’s a little like the reuniting of a rock supergroup,” but adds, “it’s not necessarily what the publication truly needs.”

Can’t hurt the image though, after the beating the business magazine took when top editors like John Byrne and Stephen Adler, and president Keith Fox, dropped out of BW once Bloomberg bought it.

Read More: The BusinessWeek Supergroup –Slate

BW names exec editor, deputy editor in first move by new chief — Talking Biz News

Previously: John Byrne BusinessWeek Departure Rumors Turn True, More Employees Fleeing BusinessWeek?

With ad sales at a premium, it’s more important than ever for publications to have a stellar sales team in place.

That’s why it comes as no surprise that The Week, the opinion and commentary magazine, has brought Timothy Koorbusch to lead its national sales team. Koorbusch, who formerly worked as New York sales director for the Sports Illustrated Golf Group at Time Inc., has joined The Week as national sales director, where he’ll lead the magazine’s print and digital advertising teams.

Prior to his work at the Sports Illustrated Golf Group, Koorbusch worked at Sunset magazine, Fortune, Fortune Small Business and National Review.

Full release after the jump

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Fortune magazine has tapped veteran business reporter, and former Fortune staffer, Daniel Roth to lead its Web site through an upcoming revamp, in the newly created position of managing editor of Fortune.com.

In a memo to staff today, Fortune managing editor Andy Serwer explained that Roth would be heading up the magazine’s plan to “reinvent Fortune.com within the framework of its home on CNNMoney.com,” as part of “the reformulation of the whole Fortune franchise,” which has been talked about for some time.

Roth left the Time Inc. pub in 2006 to joined the now-defunct Portfolio at Condé Nast. He is currently working as a senior writer at Wired, which he joined in 2007.

Serwer’s memo, after the jump

Read more: Fortune Tackles its Website Again, With a High Profile Hire –All Things D

Previously: Wired Steals Roth From Portfolio, As Business Magazines Struggle, Fortune Revamps

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