This year’s Fortune 500 has just been released. The top five grossing companies:
1. Wal-Mart
2. Exxon Mobil
3. Chevron
4. ConocoPhillips
5. Fannie Mae
If the business of America is business, we are best defined by three pursuits: Big Retail, Big Oil, and Big Houses.
JPB3 says: Please. You cannot be serious. Including “housing” in your three pursuits? These rankings are by revenue. Fannie Mae is losing money hand over fist, is in government conservator-ship, and has a penny stock. (Anyone can achieve “revenue” if the government permits him to sell $1.00 for $.90.)
Seems more informative to look at the profits: my three industries would be energy, banking, and technology. (With due apologies to WalMart.)
daddysteve says: I think “mark to market” accounting would keep the financials off the list. But since we live in Emerald City, the Lollipop Guild seems to have the biggest profits( although their wizard-default-swaps from Goldman-Sachs are highly suspect).
Dayon says: What happened to all the manufacturing companies?
Frank says: 4 of the 5 also make a living getting government hand-outs.
To my knowledge Walmart earns their money the old fashion way, undercutting the compoetition and exploiting their employees, but not on the government dole.
“If the business of America is business”
It’s not. It’s government.