World’s Largest Corporations - Fortune’s 2005 Big Boy List
Fortune just released the Global 500 list last month. I took a snap shot of the largest 20 corporations in the world:
Amazingly, half of the top 20 are either Oil or Auto companies. Another surprise is that the American auto makers are gaining more grounds in the top 20 list. Only Toyota and Volkswagen showed up on the list. You’d think our auto industry is on a downhill with all the troubles GM had lately. I am puzzled about how a company that got downgraded to junkie and almost got kicked out of Dow ended up on the top 5 list?
I am also surprised to see ING Group has such a close call with Citigroup (revenue wise). After all, it is an ultra young bank (funded in 1991) and it is only well known as an online bank here in the States. This little bank even beats IBM! What’s their secret? Anyway, I am a happy customer of ING Direct myself and I have been enjoying its excellent interest rate for a while. If you are sick and tired of the money market’s 0.8%, I’d roll the cash into an orange account (currently at 3.30% for saving) with ING.
There are also a few companies that made to the top 100 but with negative profits:
#26 McKesson (-156.7 million)
#51 Pemex (-2,258.9 million)
#53 Vodafone (-13,910.4 million)
#57 Fiat (-1972.6 million)
#67 Kroger (-100 million)
I am staying away from those companies for now, job or stock.
By looking at the entire Global 100 list in my hardcopy Fortune magazine, only 33 of them are US based companies. We have long adopted the concept to invest mainly in our own market. Even our financial advisors are telling us that International assets are riskier and we should put only 10 to 20 percent in the International funds as part of the diversification exercise. My question is that if our economy is only a slice of the pie, shouldn’t we try to bite the entire global pie and invest more in foreign funds?
Sorry to shatter your “live-happily-ever-after” tales. The truth is, Disney lied to all of us about what really happened in the original fairy tales written in the 19th century.
I proudly announce that I am no longer the only villager who is throwing Brew-Ha-Ha’s at you anymore.