Secrets of the FORTUNE 500
Sex, drugs, and rock & roll? Nope. But here are a few oddball items as a reminder that there is more to the business world than business.
(FORTUNE Magazine) – WHO KNEW? ■In Chinese, Coca-Cola (No. 92) means "to make mouth happy." ■Bill Ford, scion and CEO of Ford Motor (No. 4), has a fish tank in his office. He can name every fish. ■Michael Dell of Dell (No. 28) works standing up at his computer terminal. ■The boyhood home of Warren Buffett (CEO of No. 12 Berkshire Hathaway) was built by the grandfather of Katie Couric of the Today Show. ■Shhh! Since its founding in 1925, Erie Insurance Group (No. 425) has never advertised. ■Sibling rivalry: Larry Weinbach is CEO of Unisys (No. 343); his little brother, Arthur, is CEO of ADP (No. 277). ■Remember the Alamo? Valero Energy (No. 22) does. It drew its name from the San Antonio landmark: The Alamo's original name was Misión San Antonio de Valero. ■When Rupert Murdoch (No. 98, News Corp.) was studying at Oxford, he considered himself a socialist--to the extent of having a bust of Lenin on his mantel. WHEN THEY'RE OFF-DUTY ■Cablevision (No. 394) CEO Jim Dolan plays in a rock band. The band's first CD will be out later this year. ■When EDS (No. 95) CEO Michael Jordan was rehired to turn around the company, he was in the middle of writing a mystery. No ending yet--for the book or the turnaround. ■Herb Kelleher (co-founder and chairman of No. 318 Southwest Airlines) is a Wild Turkey man. So much so that when Wild Turkey suffered a huge fire in 2000, he bought hundreds of cases of the bourbon in the event the company didn't recover. INSIDE INFORMATION ■The oldest CEO on the 500: Sumner Redstone, 81, of Viacom (No. 69); the youngest: William C. Rhodes III, 39, AutoZone (No. 350); the longest-serving: Leslie Wexner (41 years at No. 240 Limited Brands). Fastest to make the list: four-year-old Compaq, which debuted at No. 463 in 1986. ■In the first FORTUNE 500, in 1955, it took revenues of $49.7 million to make the list (Copperweld Steel, No. 500 that year). Adjust for inflation, and that is $325 million. GM's sales in 1955 ($9.8 billion) made up 7.2% of the 500's revenues; Wal-Mart's (No. 1) share is less than half that this year. ■Biggest money losers, by decade: 1950s--Studebaker, $103.3 million (1957 list). 1960s--General Dynamics, $143.2 million (1962). 1970s--Chrysler, $1.1 billion (1980). 1980s--Texaco, $4.4 billion (1988). 1990s--GM, $23.5 billion (1993). (In 1992 the 500 companies lost an aggregate $196.2 million, the only year that has happened.) 2000s--AOL Time Warner (parent of FORTUNE), $98.7 billion (2003). PRODUCT LAUNCHES YOU MIGHT HAVE MISSED ■Aramis, a division of Estée Lauder (No. 346), is proud to announce Donald Trump, The Fragrance. The gold-topped scent has a masculine "blend of select green and aromatic notes." ■Lactose-free eggnog debuted last holiday season, courtesy of Johnson & Johnson (No. 30). ■The Hulaburger, circa 1964, featured a bun, cheese, and a slice of pineapple. "Where's the burger?" asked a mystified McDonald's (No. 116) customer. Sales were disappointing. Ditto for 1993's Fingos, "The cereal made to eat with your fingers!" (General Mills, No. 197). |
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