There's been a shakeup at the top of the Fortune 500 list. Wal-Mart is no longer number one after keeping that post for four years. Who replaced the retailing giant? None other than oil giant Exxon Mobil. Big surprise, huh? Fortune reported that the company brought in nearly $1 billion in sales a day during the last year. Well, I think $3/gallon gas will do that to a company. One interesting note is that although Exxon had record-breaking profits last year, the company's stock provided only a 11.7% one-year return; that's good but certainly not the best on Fortune's investments list. The country's five largest oil companies together brought in about $836 billion of revenue (28% of the combined revenue of the top 25). Simply amazing! Another note regarding the list: three internet powerhouses made the 500 for the first time; Google, Yahoo, and eBay all gained a spot. America's corporations collectively brought in $9.1 trillion of sales and made profits of $610 billion. Certainly was a good year for business in America, especially if you happen to be a oil company. (story here)filed under: business
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