The Fortune 500 List for 2011 is out and Wal-Mart tops the list once again. This year, Exxon followed in second place and third went to Chevron. It’s not really surprising that Wal-Mart was able to beat out two oil companies but what was surprising is that once doomed Fannie Mae made the list in the number five spot.
This marks Wal-Mart’s second year in a row as the top company based on its 2010 revenue. Wal-Mart has easily and quickly become the world’s largest retailer selling decent to good quality items at extremely low prices. Their cut-throat business model may run little hometown shops out of business but when it comes to being number one, that’s just what you have to do.
The top ten in 2011’s Fortune 500 List are Wal-Mart, Exxon, Chevron, ConocoPhillips, Fannie Mae, General Electric, Berkshire Hathaway, General Motors, Bank of America and Ford Motor.
Those who made the Fortune 500 List were said by the magazine to have gotten where they are “by boosting productivity and cutting jobs” and by relying “on growing operations overseas.” In the end, the average American may be getting cheap goods at the price of his or her own job. Is that a fair trade? Absolutely not but that is something that only the companies can change. Corporations are not keen on the idea of losing profits when they see the windfall they get from cutting jobs or sending them overseas.
Â© Evalynn J. Saeyang Â– Gather Inc. 2011