Tuesday, December 1, 2015

THE PEOPLE (ERR! CORPORATIONS) THAT OWN THE US

Even though these are just business entities, SCOTUS' Citizens United decision has deemed them to be people and, as such, the influence and power they wield  has transformed this country  into a Plutocracy.


The following is a list of the top 100 power brokers in America;

A number of America’s largest private companies are big enough in terms of revenue that had they been public they would have placed in the upper ranks of the Fortune 500. As a matter of fact, the largest private company, Cargill, has revenue that could put it in the top 10.

 Click here to see America’s 100 largest private companies.

Once again, Industrials & Chemicals conglomerates Cargill and Koch Industries topped the list and were far and away the leaders with a difference in revenue of over $50 Billion above third place State Farm. The top 15 had a more balanced distribution of industries, although Insurance giants certainly staked their claim near the top, with four companies in the top 15: State Farm, Liberty Mutual, Nationwide, and New York Life. The service industry as a whole was well represented, holding 7 of the top 15 spots. Other industries represented in the list were consulting, accounting, real estate, technology, consumer goods and healthcare.

The very largest private and public companies share another characteristic. They are so large that a top few dominate their field in terms of revenue, with other companies often dwarfed in comparison.

The most glaring revelation about the top of the pack is the portion of revenue these companies control. 3% of companies account for 18% of total revenues in the PrivCo 100. Additionally, 15% of companies account for half of total revenue generated. The top 50 companies reported revenues above $11.4 Billion or greater this year. This represents an increase of almost 23% in total revenue over the top 50 from last year.

The largest Fortune 500 company, Walmart, reported sales of $486 billion last year. Exxon Mobil (NYSE: XOM), the second largest, posted sales of $382 billion, already a $100 billion difference. The size of public companies in terms of sales drops off quickly. Verizon (NYSE: VZ), the 15th largest company on the Fortune 500, reported revenue of $127 billion last year, only a third of Exxon’s.