ExxonMobil overtakes Wal-Mart as largest US companyApril 21st, 2009 - 3:24 am ICT by IANS
New York, April 21 (DPA) The global economic crisis has scrambled the pecking order among US firms, with ExxonMobil ousting Wal-Mart as the top revenue-earning company.
The energy company vaulted to the top of the business magazine Fortune 500 list, pushing the world’s largest retailer to second place.
Profits among Fortune 500 companies saw the worst declines in the list’s 55-year history, falling 85 percent in 2008 compared to 2007, for total losses of $99 billion.
The rankings were published Sunday on the internet. Following on the top ten list were Chevron, General Motors, ConocoPhillips, General Electric, Ford Motors, Citigroup, Bank of America and AT&T.
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