Kinf of a no-brainer... Obama was Person of the Year in 2008 and 2012, George W. Bush in 2000 and 2004. You get elected president, you're Person of the Year.
Well, unless you're Herbert Hoover. Every president from FDR to Trump has been Person of the Year (except Ford).
http://time.com/4591216/time-person-of-year-election-years/?iid=toc
So they rejected the greatest President of modern times, Gerald Ford? Sad! That probably caused a drop in sales for TIME, resulting in the economic crisis of the late 1970s.