ECONOMICS REPORT - Wal-Mart Tops the Fortune 500 List for th
ECONOMICS REPORT - Wal-Mart Tops the Fortune 500 List for the Fourth Year
By Mario Ritter
Broadcast: Friday, April 22, 2005
I'm Gwen Outen with the VOA Special English Economics Report.
Each year the business magazine Fortune publishes a list of the five hundred largest American companies. The new Fortune five hundred list has come out. And, for the fourth year, Wal-Mart is at the top.
Wal-Mart stores sell general goods at low prices. The company had sales of almost two hundred ninety thousand million dollars last year.
Wal-Mart is first on the Fortune five hundred list by revenue, or the total amount of money received. The oil company Exxon Mobil is second. But, for the second year, Exxon Mobil is first in profits among American companies. Wal-Mart is listed eighth in profits.
Exxon Mobil recorded a profit of more than twenty-five thousand million dollars last year. That was an increase of almost eighteen percent over the year before.
General Motors is third on the Fortune list of top companies by revenue, followed by Ford 1 Motor Company and General Electric.
Two other oil companies are sixth and seventh on the list. Like Exxon Mobil, ChevronTexaco and ConocoPhillips both gained from high oil prices.
Citigroup is eighth on the Fortune five hundred list by revenue. As in two thousand three, the financial services company was second in profits last year, behind Exxon Mobil.
Ninth on the list by revenue is the insurance company American International Group. A.I.G. is followed by I.B.M., International Business Machines. In two thousand three I.B.M. was ninth and A.I.G. was tenth.
The yearly Fortune lists contain only companies that release their financial information to the public.
So far we have talked about leaders in revenues and profits. But Fortune also lists companies by assets. Assets are anything of value that a company or individual owns, including property, savings 2 and investments.
The top three companies by assets are all banks. Citigroup tops the list of American asset holders 3. It has assets of about one and one-half million million dollars. J.P. Morgan Chase & Company and Bank of America are the next two on the list.
Just as in two thousand three, the largest American companies had record sales last year. The oil and mining industries did very well. But the airline industry suffered big losses because of high fuel prices and strong competition. Price competition also meant heavy losses for some telecommunications companies.
This VOA Special English Economics Report was written by Mario Ritter. I'm Gwen Outen.
- They were guarding the bridge,so we forded the river.他们驻守在那座桥上，所以我们只能涉水过河。
- If you decide to ford a stream,be extremely careful.如果已决定要涉过小溪，必须极度小心。
- I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
- By this time he had used up all his savings.到这时，他的存款已全部用完。
- Slaves were mercilessly ground down by slave holders. 奴隶受奴隶主的残酷压迫。
- It is recognition of compassion's part that leads the up-holders of capital punishment to accuse the abolitionists of sentimentality in being more sorry for the murderer than for his victim. 正是对怜悯的作用有了认识，才使得死刑的提倡者指控主张废除死刑的人感情用事，同情谋杀犯胜过同情受害者。