So I was looking through some news stories and was surprised to see that Wal-Mart has fallen to the number two spot on the Fortune 500 ranking. The Fortune 500 ranks America's largest corporations by their annual revenue. The Fortune 500 had a rough year like many other companies due to the poor status of the economy. Although, America’s 500 biggest companies earned $98.9 billion in 2008, down from 85 percent from $645.2 billion in profits the previous year. Also, 128 companies on the list had losses, totaling $519.3 billion. Even though oil prices dropped dramatically this year Exxon Mobil regained its title as number 1. Exxon proved that even though oil was at $50 a barrel or less they still came out on top!
Wal-Mart on the other hand, took second place. Oddly enough Wal-Mart had the best one-year stock return of any Fortune 500 company with 19%. This made me realize that Wal-Mart is the perfect store when money is tight and times are hard. People can’t afford to pay what they used to, so why no go bargain shopping at your local Wal-Mart. I personally am a Target fan and have no trouble paying a little more to get more. I am not a fan of Wal-Mart’s cheap products and how they want to rule the world. Whenever I have gone into a Wal-Mart it always seems yucky and the people who work there aren’t anything like the employees on the commercials.
I read in an article that “The biggest threat to Wal-Mart comes not from the economy or other retailers but from Congress: The union-backed "card check" bill, if passed, could lead to rapid unionization of Wal-Mart stores.” - J.B.
In my opinion, GO EXXON!
Here are some interesting stats:
Industry: General Merchandisers
($ millions) % change from 2007
Revenues 405,607.0 7.1
Profits 13,400.0 5.3
Assets 163,429.0 —
Stockholders' equity 65,285.0
Market value (3/27/2009) 205,817.8
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