COMPANY FedEx
FirstEnergy Gap
Genzyme
Goldman Sachs Group Health Net Holly
Honeywell International Hormel Foods
Host Hotels & Resorts International Paper J.C. Penney J.M. Smucker
Las Vegas Sands Liberty Global
Lockheed Martin Lubrizol
Marathon Oil McDonald’s
GENERAL COUNSEL Christine Richards Leila Vespoli
Michelle Banks Karen Linehan Esta Stetcher²
Angelee Bouchard Denise McWatters Katherine Adams Lori Marco
Elizabeth Abdoo Sharon Ryan Janet Dhillon
Mary Anne Harlan¹ Gayle Hyman
Elizabeth Markowski Maryanne Lavan Suzanne Day¹ Sylvia Kerrigan Gloria Santona
2011 RANK
73 183
2010 RANK INDUSTRY
60 179
167 162 487 54
179 289 81
325 494
458 39
Mail, Package, and Freight Delivery Utilities: Gas and Electric Specialty Retailers Pharmaceuticals Commercial Banks
146 Health Care: Insurance and Management 431 74
Petroleum Refi ning
340 492
105 104 146 133 482 342 255 52
423 29
111
540 456 210 44
453 41
108
Aerospace and Defense Consumer Food Products Hotels, Casinos, Resorts Forest and Paper Products General Merchandisers Food Consumer Products Hotels, Casinos, Resorts Telecommunications Aerospace and Defense Chemicals
Utilities: Petroleum Refi ning Food Services
¹New to list. ²Ms. Stecher is co-general counsel with Gregory Palm. ³Replaced a woman on last year’s list WOMEN’S GENERAL COUNSEL
IT WAS ANOTHER GOOD YEAR FOR THE FORTUNE 500 COMPANIES, THOUGH, LIKE LAST YEAR, IT WAS NOT AS GOOD FOR AVERAGE AMERICANS. Although the United States has not been in recession since 2009, the recovery continues to be slow and halting, with unemploy- ment stubbornly hovering around 9 percent and the housing market unable to lift itself out of the doldrums. Economic growth continues but many people remained too concerned about their jobs and mortgages to open their wallets enough to jump-start the sort of roaring recovery that Americans have come to expect as a natural part of the business cycle. However, this year’s Fortune 500 companies rode a wave of
profi ts by boosting productivity and cutting jobs and by relying on growing operations overseas—much as they did the year before. Total revenues in the Fortune 500 soared 10.5 percent to $10.8 trillion, and total profi ts ballooned 81 percent, leaving many of the nation’s biggest companies fl ush with cash. American oil companies in particular had cause to celebrate,
including the three of the top four companies on the Fortune 500 list—Exxon Mobil, Chevron and ConocoPhillips—that
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came from the petroleum refi ning industry. However, even the mighty oil giants could not knock Walmart, the global retailing titan, off its perch atop the list for the second straight year. T e Arkansas-based corporation racked up an astonish- ing $421 billion in sales last year despite a sluggish economy and soft retail market. Like many other companies on this list, much of Walmart’s success last year was due to strong perfor- mance outside the United States. Although they could not top Walmart this year,
the oil companies enjoyed robust revenue. Exxon Mobil [2], which enjoyed an eye-popping $35.6 billion in profi ts, was tops on the list thanks in large part to high oil prices in 2010. Not to be outdone by much, Chevron [3] saw revenues rise by 20 percent to over $196 billion. Not far behind was ConocoPhillips [4], with almost $185 billion in revenues, a jump of 32.6 percent—higher than either ExxonMobil or Chevron. ConocoPhillips’ rise in profi ts of nearly 134 percent also easily topped its two bigger industry rivals. T ere were some interesting changes in this year’s
Fortune 500 list. Fannie Mae roared back into the top fi ve, up from the 81st position last year, despite fi nancial, legal, and political pressures. T e top 10 also included two com- panies from America’s until-recently troubled auto industry, with General Motors—fresh out of bankruptcy—at seven
SEPTEMBER/OCTOBER 2011 DIVERSITY & THE BAR®
GROUPED BY INDUSTRY
T C E I
F I
C R J
N P E J
N H R O C J
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