Betty on ABC
Ugly Betty is a new show from the ABC Network starring America Ferrera, Vanessa Williams, Alan Dale and Eric Mabius. The show is based on the popular Columbian soap opera Yo Soy Betty, La Fea (I am Betty, the Ugly One) that ran from 1999 to 2001 and spawned many spin offs in many different countries including India, Germany and Russia. The show was recently adapted for American television and is being Executive Produced by Salma Hayak. "Ugly Betty" chronicles the professional career of Betty Suarez. After being turned away because of her appearance at one of the magazines of Meade Publishing she caught the eye of mogul Bradford Meade. Bradford hires Betty to be an assistant for his playboy son Daniel Meade who was recently named editor after the the previous editor Fey Summers was involved in an automobile accident. The promotion of Daniel is of surprise to everyone including Wilhelmina Slater, The head Creative Editor of Mode Magazine. On Betty's first day she is overwhelmed by the glitz and glamour of her MODE peers. She finds a confidant in Christina, who works in the wardrobe department at the magazine. After a tumultuous couple of days at work and an incident involving leather and a photo shoot (eps guide) Betty is finally accepted by Daniel and the two becomes friends, working together to help each other in a strange world.

The Original Betty
(Keep in mind, that at the point of this writing, i have never watched Betty La Fea, but after reading several different source this is how I parallel it to Ugly Betty (Corrections made with help from Tony)
The show is set in Columbia at the fashion house Ecomonda. It is being run by Armando Mendoza Saenz who comes up with a plan to to make his magazine grow. Betty begins working at Ecomonda and falls madly in love with Armando, who doesn't love her back because she is ugly. She is a college graduate and settles for a menial job as his secretary even though she is qualified for so much more. She decides that she wants to move up the ladder and has no problem starting at the bottom. Because she is in love with Armando, she does what he wants including covering up for his many indiscretions. Armando's plan for the company doesn't go as plan and Betty ends up having to bail him out of trouble most of the time with her great ideas. One of the plot involved them creating a dummy company to help the failing Ecomonda, called Terra Moda. The fashion house becomes very successful, with Betty at the helm of its success. However Terra Monda, which was used to back Ecomonda from creditors, are now both under the control of Betty.

Believing that Betty will take the magazine away from him, Armando who has always suspected Betty is in love with him, pretends to be in love with her to get the company back. A ploy that was pushed on him my his best friend. Betty eventually finds out that Armando fooled her and is extremely disappointed. She gives back Terra Monda and at the urging of the board of EcoMonda she takes over the failed fashion house and transforms it from a financial failure into a success. She also finds out that Armando is really in love with her and she forgives him and the two get married. There is also a second part of the Novela called EcoMonda that chronicles what happens after happily ever after.