Fortune magazine released this year’s list of the 500 publicly traded companies with the highest revenue, and Exxon Mobile came out on top. The recent economic downturn has seen Wall Street replace big oil as the perceived arch villains of the American consumers. This shift was reflected in the Fortune 500 list.
Most of us don’t have the dream of being a CEO of a Fortune 500 company. With all the recent economic woes, the stress and headaches that went along with the job just wouldn’t be worth the big paycheck. Of course, CEOs also get the luxury lifestyle with beautiful custom homes and exotic vehicles.
Image courtesy of DFW Elite Auto Rental in Dallas, TX. Used with permission. All rights reserved.
American consumers are beginning to realize that they don’t need the paycheck of a Fortune 500 company CEO to drive a Mercedes or other luxury vehicle. Exotic car rental and exotic car sharing clubs make it possible for regular people to drive their dream cars. And that’s especially good news if you’re not in the mood for a high-stress job.
The Fortune 500 list was released Sunday. The list showed that Exxon Mobile edged out Wal-Mart Stores for the top spot this year. Exxon Mobile is the world’s largest oil company and had revenue of $442.9 billion for 2008. Wal-Mart, which is based in Arkansas, reported revenue of $405.6 billion for the same period.
Wal-Mart has topped the Fortune 500 list for five of the last six years. Even though the retailer reported increases sales as consumers tried to save money during the recession, Wal-Mart did not make enough money to beat the oil giant.
Exxon Mobile and other energy companies reported record profits last year due to high energy prices early in 2008. Third place on the list went to Chevron Corporation with $263.2 billion in revenue, and ConocoPhillips received fourth place with $230.8 billion in revenue.
Not surprisingly, financial services companies took some hard hits last year. Several companies, including Lehman Brothers, Washington Mutual, and Wachovia Corporation, were no longer included in the Fortune 500 list. Others, like Bank of America Corp and Citigroup Inc, were no longer included in the top ten.
The Fortune 500 list reflects some significant changes in the American economy. There have been big changes, both on the list and in people’s lives. Many consumers are more cautious about spending large sums of cash, especially if they have to finance the money, as they would with an exotic car loan.
Instead of purchasing exotic cars, exotic car rental is continuing to emerge as an excellent alternative. It’s still possible to drive a Lamborghini; we just have to get more creative about how we do it!
Kate Miller-Wilson is a professional freelance writer living in the Twin Cities. Visit her website or email her for information about her freelance writing services.
