In Celebration-50 Years of The Fortune 500
Here is some advice. Beg, borrow or steal the April 5, 2004 edition of Fortune Magazine. This issue marks 50 years of researching and publishing The Fortune 500 list of America’s largest companies. In this issue there are many interesting historical items such as the original list, a list of companies that made it to the performance pinnacle and a list of those, which have fallen out, and those that have disappeared. This issue will be a collectors item.
This kaleidoscope of American industry does more than entertain us. It gives insight to the future and let’s us observe that the only difference between big business and small business is size. Problems, patterns, opportunities, success and failure confront the managers of enterprises large and small.
We suggest a review of the Communicator dated 10/10/02 “Millionaires Dwindling Fast”. This edition gives details of a specific case of an underinsured Fortune 500 Executive for disability insurance. It is a true story and a story that should convince us of the fact that these busy people are careless about their personal financial affairs. They deserve and need help.
Such people are frequently approached about life insurance, supplemental retirement income, annuities, securities and mutual funds. They are not approached about a frightening security gap – – – High Limit Disability Insurance to supplement the firms inadequate group LTD coverage. The Communicator lays it out clearly. (www.piu.org – Our Library)
These marvelous prospects are numerous, available, and ABLE to qualify and to afford adequate disability insurance. The Fortune 500 Company that employed the disability destitute executive featured in the 10/10/02 Communicator had as a perk, access to a fee-for-service Financial Advisor to discuss any issue at no cost to him. The executive never dreamed he needed more disability insurance so he didn’t ask the Advisor. More shocking is that the Financial Advisor never advised him on this critical matter because he, the advisor stated, that he is untrained in this subject!
In an article describing the new shape and management of General Motors we get an inkling of how demanding the duties and expectations of a Fortune 500 executive can be. Every top operating executive gathers each month for a 1 ½ day conference, 8:00 AM – 6:00 PM. The meetings are scheduled one year in advance. Attendance is absolutely mandatory. On the Thursday preceding the meeting, presentations and supporting material must be posted on a secure web site. All attendees must have reviewed all the material and posted any comments or questions before the weekend.
We don’t know the GM culture, but we do have reason to believe that in a Fortune 500 Company Executives must always be 100%. Don’t feel well? Too bad. Be there or we’ll replace you. This is not a place for wimps or truly sick or hurt people. You are either full-bore or you are out. It is a place for “own occ” coverage. It appears Residual Benefits would not apply because the demands are for 100% or nothing!
OUR SPECIAL FORTUNE 500 PROMOTION
We offer a $500 cash bonus on The Executive 400 High Limit Disability Plan placed on FORTUNE 500 EXECUTIVES with an annual premium of $2,500 or more.
Applications must be submitted by May 15th and paid by July 1, 2004 to be eligible for these bonuses.
Interesting Fortune 500 Facts Covering The 50 Years
- Only three companies have held the #1 spot: GM, Exxon and Wal-Mart
- Kay Graham, Washington Post – First female executive to head a Fortune 500 Company
- Comparative value of $1,000 invested in FF Companies in the inaugural year 1954
- Phillip Morris (ALTRIA) $7,040,000
- Paccar $5,210,000
- Johnson & Johnson $1,870,000
- Avon Products $1,780,000
- Merck $1,700,000
- Of the 1877 companies that have made the list:
- 27 made the 1955 list but were never heard from again
- 71 companies have managed to cling to the list (no insurance companies)
California surpassed New York as the home of the most Fortune 500 Companies in 1994
2003 TOP TEN
|Exxon Mobile||Conoco Phillips|
|G.E.||American International Group|
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