Meg has the power!

For the second year in a row, Fortune magazine has ranked Meg Whitman as the most powerful woman in business. Meg Whitman is the CEO of eBay, the online auction site.

Ebay has experienced a 30% decline in stock price over the last year, but it is still experiencing strong revenue and growth.

Meg Whitman joined eBay as President and CEO in March 1998 and sits on the board of directors of Procter & Gamble and is a trustee of Princeton University. She received an Economics degree from Princeton and went on to receive her MBA from Harvard Business School.

Mrs. Whitman is in good company with:

• Anne Mulcahy, Chairman and CEO, Xerox (No. 2)
• Brenda Barnes, President and CEO, Sara Lee (No. 3)
• Oprah Winfrey, Chairman, Harpo Productions (No. 4)
• Andrea Jung, Chairman and CEO, Avon (No. 5)

Martha Stewart listed at 21 on the list. It looks like it helps to be out of jail at the time Fortune is making its selections.