I wonder how many WalMart haters will now be Exxon haters?

Exxon Dethrones Wal-Mart on Fortune 500

By J.W. ELPHINSTONE, AP Business Writer

NEW YORK - Skyrocketing energy prices propelled Exxon Mobil Corp. to the top of the 2006 Fortune 500 list, and consigned Wal-Mart Stores Inc. to the No. 2 spot on the magazine's annual ranking of the nation's largest publicly traded companies.

Fortune compiled its list based on companies' 2005 revenues. Exxon Mobil raked in $340 billion in revenue, a 25.5 percent increase over 2004, and had $36.1 billion in profits, the most by any U.S. company in history.

Exxon Mobil last appeared at No. 1 in 2001. Only Wal-Mart, Exxon Mobil and General Motors Corp. have topped the list since its inception in 1954.

Wal-Mart had $315.654 billion in revenue, a 9.5 percent increase from last year. Because of its pervasive U.S. presence, the world's largest retailer has struggled to sustain profit growth in the high teens as it had in previous years.

Other oil producers also rose in the rankings, boosted by crude prices that topped $70 a barrel and gasoline prices that surpassed $3 a gallon after hurricanes battered the Gulf Coast.

Both ChevronTexaco Corp. and ConocoPhillips saw their revenues jump in 2005, increasing by 28 percent and 37 percent, respectively. Chevron climbed two spots to No. 4, while Conoco edged up to No. 6 from No. 7 last year.

The major U.S. automakers showed their vulnerability as they faced declining U.S. sales and increasing benefit costs.

GM barely retained its hold on the No. 3 spot, while Ford Motor Co. slipped to fifth place from No. 4. GM's revenues decreased nearly one-half percent to $192.604 billion, while Ford's rose less than 3 percent to $177.21 billion.

General Electric slipped two rungs to No. 7, while its revenue rose 3.1 percent to $157.153 billion. Citigroup and American International Group followed at Nos. 8 and 9, holding their places from 2005.

International Business Machines Corp. held onto the last spot in the top 10, although its revenues fell by 5.4 percent to $91.134 billion.

In general, 2005 treated the top U.S. companies to big revenues and profits. The 500 brought in a combined $9.1 trillion in revenue, a 10.2 percent increase over last year, and $610 billion in profits, record numbers on both accounts.

Low long-term interest rates, which spurred consumer spending, and a growing global economy helped the companies to hit those records. The global economy grew by 4.25 percent, led by China, India and a recovering Japan.

"We really are a one world economy," said Cait Murphy, assistant managing editor at Fortune. "If the global economic growth is strong, then the 500 will do well, because they have substantial operations and sales abroad."

Only three of the 47 industry groups that the magazine tracks lost money last year: the airline, motor vehicles and building materials industries.

The seven airline companies on the list lost a total of $28.4 billion last year. Only Southwest Airlines Co. was profitable. Ten of the 16 motor vehicle companies were profitable, but big losses from GM and Delphi Corp. weighed down the sector.

Pipelines, Internet services and retailing, petroleum refining and mining-crude oil production were the fastest-growing industries of 2005.

Internet services and retailing companies turned in a 125.9 percent increase in profits, prompting the magazine to create a new industry category. The most notable newcomers to the 500 fell into that category, with Google Inc. debuting at No. 353, Yahoo! Inc. at No. 412 and eBay Inc. at No. 458. The three combined for $5.7 billion in profits.

Meanwhile, Gateway Inc. failed to make the list this year after appearing on it since 1993. Last year, the company slid in at No. 495.

"Gateway hasn't fully recovered from the dot-com bust," Murphy said.

 

Oh boy - I can see this turning into a banned political thread real fast....

 

Kind of laid down the gauntlet and set the tone tone right there, if that was the intention. Maybe he's just thinking out loud. I'm not sure how this forwards a conversation that could benefit us all though, regardless of our differing points of view.
However, its what passes for political debate in this divided country sometimes.





Big Jimmy

 

Me too.

Exxon is evil as is Wal Mart. I've limited my shopping at Wal-Mart, but limiting gas in the car(s) and fuel in the truck is near impossible.........

And I can see why these two are always crying the blues and threatening bankruptcy.........
They just need to ship the rest of the jobs to Mexico and get rif of those pesky Union's that helped them to be numbers three and four............?

 

Not intended to be political!

(See, it's in blue .....not red)


Some folks consider WalMart too big and powerful, so I just figured some that didn't like them for that reason would now stop using Exxon.

 

Thats what I was wondering...

But considerinhg the climate you just know a header like that will always get some very strong responses.

I could go into my familys e-mail mis-understanding debacle but I won't. Suffice to say it all started with a short sentence...

Does not take much to fan a flame on the open page.