American tech companies are a some of the most effectively managed businesses in the world, according to a new landmark system that ranked the top 250 companies.

Even though Apple is the world’s most profitable company, the rankings found that Amazon is actually the most efficiently run business. But Apple follows at a close second.

Apple has agreed to pay $53 million to settle a class action lawsuit that accuses the Cupertino company of failing to honor warranties on iPhones and iPod touches. The settlement could see hundreds of thousands of Apple customers receiving a payout after being refused repairs or replacements on faulty devices still under warranty.

Throughout 2012 Tim Cook has continued to put his stamp on Apple and its culture. One move that we haven’t heard much until now is his decision earlier this year to allow certain employees to spend 20% of their work time pursuing new projects that may help Apple.

20% time has become a prominent employee incentive at other companies throughout Silicon Valley as it has been popularized by Google who got the idea from 3M. The incentive allows employees to spend 20% of their time on side projects, but it hasn’t been adopted by Apple until now.

The iPad 2 already has phenomenal, 10-hour battery life, largely thanks to a combination of Apple’s custom-built, power-sipping A5 chip and the fact that inside, the iPad 2 is mostly battery.

Thanks to a new, cutting-edge tablet coating, though, your next iPad could run for twenty hours or more on a single charge, while providing Kindle-like outdoor readability.