A History of the Ten “Largest” United States Corporations by “Revenue” by Thomas J. Strang - Read Online
A History of the Ten “Largest” United States Corporations by “Revenue”
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Summary

This ebook is a history of the 10 largest United States Corporation’s by their consolidated revenue. The list is limited to companies with annual revenues exceeding 100 billion US$. The most common industry is oil and gas (4), with over one third being classified as such. It is followed by automotive (2), conglomerate (2), and retail (2).
The corporations are listed from highest to lowest gross revenue. They are: 1, Walmart, US$ 486 billion, January 31, 2015, 2, ExxonMobil, US$ 394 billion, December 31, 2013, 3, Berkshire Hathaway, US$ 195 billion, December 31, 2013, 4, Chevron Corporation, US$ 192 billion, December 31, 2014, 5, Apple, Inc., US$ 183 billion, September 27, 2014, 6, Phillips 66, US$ 161 billion, December 31, 2013, 7, General Motors, US$ 155 billion, December 31, 2013, 8, Ford Motor Company, US$ 146 billion, December 31, 2013, 9, General Electric, US$ 146 billion, December 31, 2013
And 10, Valero Energy Corporation, US$ 138 billion, April 30, 2014.
The availability and reliability of up to date information on prior state-owned companies is limited and varies from country to country, thus this list may be incomplete. This list is shown in U.S. dollars, but many of the companies on it prepare their accounts in other currencies. The dollar value of their revenue may change substantially in a short period of time due to exchange rate fluctuations.

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ISBN: 9781310878015
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Introduction:

A History of the Ten Largest United States Corporations by Revenue

Thomas J. Strang

Published by Thomas J. Strang at Smashwords

Copyright 2015 Thomas J. Strang

Smashword Edition, License Notes

ISBN #

Smashwords License Statement

This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each reader. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author.

Click to Return to Table of Contents

Biography:

In this edition, I thought it would be appropriate to include a biography. I have always loved quotations and have tried to live by them. This, of course, includes The Bible as well. We live in a world where so many bad things happen, I would prefer to uplift people rather than tear them down Anyway, I am a veteran of the accounting and computer professions. My father told me to enter it many years ago and you will never be out of work. He was right! He also said, the U.S. economy is rapidly becoming a service economy where products will be made somewhere else. This was a man with a 6th grade education who worked for United States Steel Corporation for 42 years. He was an auto mechanic, plumber and carpenter. He could handle just about anything mechanical. Well, after 30 years in the professions I decided to open my own practice. Sounds easy! Just remember, you have to be willing to work 80 hours a week for yourself so you won’t have to work 40 hours a week for someone else. I have been married for 15 years to Jennifer. We have 2 children, Michael and Gracie. Michael is a computer technician and Gracie is a dentist assistant. All proceeds from the sale of this book will go to help the poor. This will help people get back on their feet again. More to follow.

Enjoy and God Bless.

Tom

Click to Return to Table of Contents

Forward:

Please visit www.smashwords.com to purchase any of the following books. Please show the author you appreciate his work!

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528999-499 Funny and Serious Life Quotes Part 2 [500 to 998]

543699-499 Funny and Serious Life Quotes Part 7 [001 to 499]

451919-999 Quotes For Everyday Living Part 3 [1999 to 2998]

455421-Celebrity Quotes

456140-Quotations from Successful Men and Women

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477459-600 Motivational and Inspirational Quotations

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An Invaluable Collection of Quotations on Aging and the Aging Process

An Assortment of Quotations for Mothers, Fathers, Parents and Marriage and Relationships

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521066-A Collection of Quotations from Famous Saints

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About this Ebook:

This ebook is a history of the 10 largest United States Corporation’s by their consolidated revenue. The list is limited to companies with annual revenues exceeding 100 billion USD. The most common industry is oil and gas (4), with over one third being classified as such. It is followed by automotive (2), conglomerate (1), and retail (3).

The corporations are listed from highest to lowest gross revenue. They are:

#, Corporation, Gross revenue, Year

1, Walmart, US$ 486 billion, January 31, 2015

2, ExxonMobil, US$ 394 billion, December 31, 2013

3, Berkshire Hathaway, US$ 195 billion, December 31, 2013

4, Chevron Corporation, US$ 192 billion, December 31, 2014

5, Apple, Inc., US$ 183 billion, September 27, 2014

6, Phillips 66, US$ 161 billion, December 31, 2013

7, General Motors, US$ 155 billion, December 31, 2013

8, Ford Motor Company, US$ 146 billion, December 31, 2013

9, General Electric, US$ 146 billion, December 31, 2013

10, Valero Energy Corporation, US$ 138 billion, April 30, 2014

The availability and reliability of up to date information on prior state-owned companies is limited and varies from country to country, thus this list may be incomplete. This list is shown in U.S. dollars, but many of the companies on it prepare their accounts in other currencies. The dollar value of their revenue may change substantially in a short period of time due to exchange rate fluctuations.

Table of Contents

Introduction

Biography

Forward

About this Ebook

Walmart One

ExxonMobil Two

Berkshire Hathaway Three

Chevron Corporation Four

Apple, Inc. Five

Midpoint

Phillips 66 Six

General Motors Seven

Ford Motor Co. Eight

General Electric Nine

Valero Energy Corporation Ten

Walmart:

Walmart headquarters building

Type: Retail

Traded as: NYSE, Dow Jones Industrial, Average Component, S&P 500 Component

Industry: Retail

Founded: July 2, 1962; 53 years ago; Rogers, Arkansas, U.S.

Founder: Sam Walton

Headquarters: Bentonville, Arkansas, U.S.

Number of locations: 11,532 (July 31, 2015)

Area served: Worldwide

Key people: Gregory B. Penner (Chairman), Doug McMillon (President & CEO)

Products: Apparel and footwear specialty, cash & carry

Revenue: US$ 485.651 billion (2014)

Operating income: US$ billion (2014)

Net income: US$ 16.363 billion (2014)

Total assets: US$ 203.706 billion (2014)

Total equity: US$ 85.937 billion (2014)

Owner: Walton family

Number of employees: 2.2 million (2015)

Divisions: Walmart U.S., Walmart International, Walmart Canada, Walmart Mexico, Walmart Chile, Walmart Supercenter, Walmart Discount Stores, Walmart Express, Walmart Neighborhood

Subsidiaries: Walmart Labs, Walmart eCommerce, Walmart Neighborhood

Slogan: Save Money, Live Better

Website: walmart.com

Wal-Mart Stores, Inc., d.b.a. Walmart is an American multinational retail corporation that operates a chain of discount department stores and warehouse stores. Headquartered in Bentonville, Arkansas, United States, the company was founded by Sam Walton in 1962 and incorporated on October 31, 1969. It has over 11,000 stores in 28 countries, under a total 65 banners. The company operates under the Walmart name in the United States and Canada. It operates as Walmart de México y Centroamérica in Mexico, as Asda in the United Kingdom, as Seiyu in Japan, and as Best Price in India. It has wholly owned operations in Argentina, Brazil, and Canada. It also owns and operates the Sam's Club retail warehouses.

Walmart is the world's largest company by revenue, according to the Fortune Global 500 list in 2014, as well as the biggest private employer in the world with 2.2 million employees. Walmart is a family-owned business, as the company is controlled by the Walton family. Sam Walton's heirs own over 50 percent of Walmart through their holding company, Walton Enterprises, and through their individual holdings. It is also one of the world's most valuable companies by market value, and is also the largest grocery retailer in the U.S. In 2009, it generated 51 percent of its US$258 billion (equivalent to $284 billion in 2015) sales in the U.S. from its grocery business.

The company was listed on the New York Stock Exchange in 1972. In the late 1980s and early 1990s, the company rose from a regional to a national giant. By 1988, Walmart was the most profitable retailer in the U.S. and by October 1989, it had become the largest in terms of revenue. Geographically limited to the South and lower Midwest up to the mid 1980’s, by the early 1990s the company's presence spanned from coast to coast — Sam's Club opened in New Jersey in November 1989 and the first California outlet opened in Lancaster in July 1990. A Walmart in York, Pennsylvania opened in October 1990, bringing the main store to the Northeast.

Walmart's investments outside North America have seen mixed results: its operations in the United Kingdom, South America, and China are highly successful, whereas ventures in Germany and South Korea failed.

History:

Early years (1945–1969)

Sam Walton's original Walton's Five and Dime store in Bentonville, Arkansas now serving as the Walmart Visitor Center

In 1945, a businessman and former J. C. Penney employee, Sam Walton, purchased a branch of the Ben Franklin Stores from the Butler Brothers. His primary focus was on selling products at low prices to get higher-volume sales at a lower profit margin, portraying it as a crusade for the consumer. He experienced setbacks, because the lease price and branch purchase were unusually high, but he was able to find lower-cost suppliers than those used by other stores. He passed on the savings in the product pricing. Sales increased 45 percent in his first year of ownership to $105,000 (equivalent to $1.38 million in 2015) in revenue, which increased to $140,000 (equivalent to $1.69 million in 2015) the next year and $175,000 (equivalent to $1.85 million in 2015) the year after that. Within the fifth year, the store was generating $250,000 (equivalent to $2.48 million in 2015) in revenue. When the lease for the location expired, Walton was unable to reach an agreement for renewal, so he opened a new store at 105 N. Main Street in Bentonville, naming it Walton's Five and Dime. That store is now the Walmart Museum.

Original logo, 1962–1969.

Logo used from 1969 to 1981

Logo used from 1981 to 1992

Logo used from 1992 to 2008. The only differences between this logo and the 1981-1992 logo are the use of a star in place of a regular hyphen, and a slight color change.

On July 2, 1962, Walton opened the first Walmart Discount City store at 719 W. Walnut Street in Rogers, Arkansas. The building is now occupied by a hardware store and an antique mall, while the company's Store #1 — since converted and relocated to a Supercenter concept is located several blocks west at 2110 W. Walnut Street as of 2015. Within its first five years, the company expanded to 24 stores across Arkansas and reached $12.6 million in sales. In 1968, it opened its first stores outside Arkansas, in Sikeston, Missouri and Claremore, Oklahoma.

Incorporation and growth as a regional power (1969–1990):

The company was incorporated as Wal-Mart Stores, Inc. on October 31, 1969. In 1970, it opened its home office and first distribution center in Bentonville, Arkansas. It had 38 stores operating with 1,500 employees and sales of $44.2 million. It began trading stock as a publicly held company on October 1, 1970, and was soon listed on the New York Stock Exchange. The first stock split occurred in May 1971 at a price of $47 (equivalent to $274.00 in 2015). By this time, Walmart was operating in five states: Arkansas, Kansas, Louisiana, Missouri, and Oklahoma; it entered Tennessee in 1973 and Kentucky and Mississippi in 1974. As it moved into Texas in 1975, there were 125 stores with 7,500 employees and total sales of $340.3 million (equivalent to $1.49 billion in 2015). Walmart opened its first Texas store in Mount Pleasant on November 11, 1975.

In the 1980s, Walmart continued to grow rapidly, and by its 25th anniversary in 1987, there were 1,198 stores with sales of $15.9 billion (equivalent to $33 billion in 2015) and 200,000 associates. This year also marked the completion of the company's satellite network, a $24 million (equivalent to $49.8 million in 2015) investment linking all operating units with the Bentonville office via two-way voice and data transmission and one-way video communication. At the time, it was the largest private satellite network, allowing the corporate office to track inventory and sales and to instantly communicate to stores. In 1988, Walton stepped down as CEO and was replaced by David Glass. Walton remained as Chairman of the Board.

Inside a Walmart Supercenter in West Plains, Missouri

In 1988, the first Wal-Mart Supercenter opened in Washington, Missouri. Thanks to its superstores, it surpassed Toys R Us in toy sales in the late-1990s.

Retail rise to multinational status (1990–2005):

By 1988, Walmart was more profitable than rivals Kmart and Sears and was the dominant retailer in the Bible Belt; by 1990, it outsold both in terms of revenue and became the largest U.S. retailer by revenue.

Prior to the summer of 1990, Walmart had no presence on the West Coast or in the Northeast (except for a single Sam's Club in New Jersey which opened in November 1989), but in July and October that year, it opened its first stores in California and Pennsylvania, respectively. By the mid-1990s, it was far and away the most powerful retailer in the U.S. and expanded into Mexico in 1991 and Canada in 1994. It spread to New England, Maryland, Delaware, Hawaii, Alaska and the Pacific Northwest last, Vermont being the last state to get a store in 1995.

The company also opened stores outside the U.S., entering South America in 1995 with stores in Argentina and Brazil; and Europe in July 1999, buying ASDA in the United Kingdom for $10 billion (equivalent to $14.2 billion in 2015).

In 1998, Walmart introduced the Neighborhood Market concept with three stores in Arkansas. By 2005, estimates indicate that the company controlled about 20 percent of the retail grocery and consumables business.

In 2000, H. Lee Scott became Walmart's President and CEO, as the company's sales increased to $165 billion. (equivalent to $226 billion in 2015) In 2002, it was listed for the first time as America's largest corporation on the Fortune 500 list, with revenues of $219.8 billion (equivalent to $288 billion in 2015) and profits of $6.7 billion (equivalent to $8.78 billion in 2015). It has remained there every year, except in 2006 and 2009.

In 2005, Walmart reported $312.4 billion (equivalent to $377 billion in 2015) in sales, more than 6,200 facilities around the world – including 3,800 stores in the United States and 2,800 elsewhere, employing more than 1.6 million associates. Its U.S. presence grew so rapidly that only small pockets of the country remained more than 60 miles (97 km) from the nearest store.

As Walmart rapidly expanded into the world's largest corporation, many critics worried about its effect on local communities, particularly small towns with many mom and pop stores. There have been several studies on the economic impact of Walmart on small towns and local businesses, jobs, and taxpayers. In one, Kenneth Stone, a Professor of Economics at Iowa State University, found that some small towns can lose almost half of their retail trade within ten years of a Walmart store opening. However, in another study, he compared the changes to what small town shops had faced in the past – including the development of the railroads, the advent of the Sears Roebuck catalog, as well as the arrival of shopping malls – and concluded that shop owners who adapt to changes in the retail market can thrive after Walmart arrives. A later study in collaboration with Mississippi State University showed that there are both positive and negative impacts on existing stores in the area where the new supercenter locates.

In the aftermath of Hurricane Katrina in September 2005, Walmart used its logistics network to organize a rapid response to the disaster, donating $20 million (equivalent to $24.2 million in 2015) in cash, 1,500 truckloads of merchandise, food for 100,000 meals, as well as the promise of a job for every one of its displaced workers. An independent study by Steven Horwitz of St. Lawrence University found that Walmart, The Home Depot, and Lowe's made use of their local knowledge about supply chains, infrastructure, decision makers and other resources to provide emergency supplies and reopen stores well before FEMA began its response. While the company was overall lauded for its quick response – amidst the criticisms of the Federal Emergency Management Agency– several critics were nonetheless quick to point out that there still remain issues with the company's labor relations.

Initiatives (2005–2010):

In October 2005, Walmart announced several environmental measures to increase energy efficiency. The primary goals included spending $500 million (equivalent to $604 million in 2015) a year to increase fuel efficiency in Walmart's truck fleet by 25 percent over three years and double it within ten, reduce greenhouse gas emissions by 20 percent in seven years, reduce energy use at stores by 30 percent, and cut solid waste from U.S. stores and Sam's Clubs by 25 percent in three years. CEO Lee Scott said that Walmart's goal was to be a good steward for the environment and ultimately use only renewable energy sources and produce zero waste. The company also designed three new experimental stores with wind turbines, photovoltaic solar panels, biofuel-capable boilers, water-cooled refrigerators, and xeriscape gardens. Despite much criticism of its environmental record, Walmart took a few steps in what