Walmart is on top of the Fortune 500. The retailer regained the lead this year after falling into second place in 2009 behind Exxon Mobile. The retailer was on top in 2008.
Other retailers cracked the top 25 as well. CVS Caremark came in at 18th, grocer Kroger hit number 23, and Costco Wholesale rounded out the 25th spot.
Not too many surprises here. Or are there?
Counter Culture 
Great, the American economy produces a retailer as its leading business. Japan – electronics, robotics, cars; Germany – cars, ships, aircraft; USA – retail services, oil production, financial products (!), OK, software, chips and munitions too, but like the former industrial powerhouse of UK, USA is a shadow of its former economic might. Hmmm, too many foreign wars?
Too many wars with “one hand tide behind the back” and too many social engineering programs in a society that has lost its work ethic and way!
While we were sleeping union labor cost drove production cost skyward and government regulations and taxes reduced profits. So, it should come as no surprise that our core manufacturing sector moved off-shore.
It would appear to me that Matt and Tom G. are both correct and likely, because of their apparent divergent political perspectives don’t even know it. The American public has enjoyed unprecedented lifestyle for several decades, primarily as a result of the availability of goods of all types, technical included, at extraordinary prices. These goods, while delivered through the likes of Wal-Mart, Kroger, Costco, etc. are by and large produced outside of the US. Whether it is fresh fruit, out of local season, from Chile or Mexico, or electronic devices from China, Indonesia, or Malaysia, this country and its workers cannot produce goods of any kind that compete with these “off shore” resources. This may be unfortunate for those who would otherwise participate in the production domestically, but remains good for the consumer.
The conundrum is the challenge that is inherent to this supply cycle. Without good jobs, there will eventually be no capacity to purchase. In the meantime, the ability to buy what we need cheaply will create a sense of security as to consumption, but also a growing sense of angst as to capacity for future consumption.
Combine these market driven elements with our advancing trend toward the federal government becoming the source of all resolutions to whatever ails us and we will eventually be enslaved to the bureaucracy we have allowed to swell to an uncontrollable juggernaut. Added to this current situation the change in our demographic balance and we shall soon see 20% of the population caring for, in one way or the other, the reaming 80%.
To make all worse, no government has ever created wealth; its citizens have done that. Government, by its very nature can only redistribute that wealth, until it is exhausted entirely.
Tom; I suggest you research where Germany stands today. The country is in serious decline and will, by 2030, be in complete economic and political chaos. France is right there with them and will likley arrive at that point sooner.
I am guessing that Tom and Matt are relatively young. I am beyond that magic age of 65, and thus wish you both well on working together for a better future; one that relies on ingenuity, creativity, a good work ethic, and the desire to solve problems at their root, and not in and by some pseudo-intellectual politicos in D.C.
Maybe it was a Freudian slip, but I did mean “remaining 80%, although that 80% will feel like they have been “reamed”.
Jeez, why’d I bother waking up this morning. And I thought I was being a fuddy duddy. But I aint nuthin’ compared to you Debby Downers. You know in addition to innovation what we absolutely need to bring back to the economic landscape is some OPTIMISM.
If we want to relish in the Old economy then we can wax historic and drown the conversation in pessimism. There is a new economy coming which is NOT solely retailcentric nor is it based solely on derivatives and financial institutions. And no it’s not right around the corner,but it is coming. Until then, back to sleep…