ex-eb-ers

Texas Has Most Companies On Fortune 500 List

(CBS 11 News)

Texas leads the nation with 58 companies listed in the 2008 Fortune 500. Each year Fortune Magazine puts out the list of the nation's largest publicly traded companies.

The Lone Star State passed New York as home to the most big companies in the latest Fortune 500 list. In all, 23 companies with headquarters based in North Texas made the list.

The North Texas Commission, a non-profit group that promotes the area, says big businesses come here for the strong workforce, easy travel in and out of DFW International Airport, and the numerous local colleges and universities.

"The presence of North Texas companies in the Fortune 500 listing and the impact those companies have in the overall Texas economy is proof that the region is a viable place to work and live," said Dan S. Petty, North Texas Commission CEO and president.

Irving-based Exxon Mobil Corp. came in at #2 on the list. Record crude oil prices in 2006 made the oil giant the most profitable company in the Fortune 500, with $39.5 billion in 2006 earnings.

Four of the largest six corporations in Texas last year were oil companies.

ExxonMobil's windfall was boosted by soaring energy demand and geopolitical instability that pushed crude oil prices above $117 a barrel and gasoline prices to an average of $3.50 a gallon.

"The company's near single-track focus on fossil fuels - plus its massive profit amid record gas prices - has drawn criticism from the public," Fortune said.

Business experts say it's a matter of simple economics -- Texas attracts companies with its low taxes, affordable land and large labor force.

Round Rock-based Dell Inc. came in at #34 on the list. The computer maker recorded revenue of $61.1 billion in 2007, up 6.5 percent from the prior year.

Fortune reports that Dell was able to hold onto its market share after it, "…finally embraced traditional sales and marketing tactics by partnering with major retail chains, including Wal-Mart and Staples."

The 2008 list, in ranking order, for North Texas includes –

#2 Exxon Mobil
#109 AMR
#115 Electronic Data Systems
#126 J.C. Penney
#136 Kimberly-Clark
#148 Fluor
#160 Burlington Northern Santa Fe
#177 Centex
#185 Texas Instruments
#224 Dean Foods
#235 D.R. Horton
#267 Southwest Airlines
#280 Tenet Healthcare
#303 Commercial Metals
#317 Energy Future Holdings (formerly TXU)
#348 GameStop
#361 Energy Transfer Equity
#367 Celanese
#416 Atmos Energy
#423 Affiliated Computer Services
#434 Blockbuster
#436 XTO Energy
#484 Holly

Fortune compiled its list based on companies' 2007 revenues.