Caucasian is the correct spelling, blue!
Time seems to need to explain each year that their pick for "person of the year" is just the most newsworthy - good or bad, either way. And certainly Barack Obama made a lot of the news this year, we couldn't turn to a single news channel or publication without the whole election getting covered ad nauseam. As he is quite literally the "last one standing" - he gets the prize, as it is.
There have been years when the "Person of the Year" wasn't even an individual person.
And of course, Time is a publication with its own opinions and agenda, just like a million others.
Wikipedia has a list of all the honorees, with notes like "first woman chosen" - back in 1936 - Wallis Simpson - included. Kind of interesting.
http://en.wikipedia.org/wiki/Time_Person_of_the_Year
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