2008 "Worst Year" In Fortune 500 History

CNN:

It was 1955, the year Disneyland opened and Ray Kroc sold his first hamburger. Bill Gates and Steve Jobs were born that year.

And it was in 1955 that Fortune magazine published the very first Fortune 500 list.

Read the whole story: CNN

Comments

[LeeCalif]

2008 has been termed the worst year ever only because we aren't thru 2009,2010,2011,2012,2013,2014,2015,2016,2017,2018,2019,2020,2021,2022,2023,2024,2025,2026.

[Grannysue]

Thanks George and the GOP, those Reganomics are really working out well aren't they???????

[Mavin1620]

Absolutely don't care about the DOW. The real value in the economy is the manufacturing businesses that have been shut down or shipped overseas. Rich Missy is right. Pearlman, the Republicans had a veto-proof majority, every Dem could have voted against it. I would respect the Republicans if they could admit this was a mistake, but no, they are busy wish the whole country fails, and demonstrate on public, taxpayer paid land and improvements against taxes. Those poor boobs are just plain stupid.

[rich misty]

Hummm.... Republicans will disagree, but their hero George W. Bush presided over the economic meltdown, while his followers cheered the wonderful Bush economy as it sailed right over the cliff.

http://www.pbs.org/wgbh/pages/frontline/meltdown/

http://www.huffingtonpost.com/2008/07/10/mccain-adviser-americans_n_111857.html

In fact, I have the documentation right here.

[Dap]

During the Bush administration no less, and after giving those fat cats all those tax breaks and incentives.

[DNoonan]

Let's just hope 2009 doesn't include Dow 4000.

http://www.pufferfishblog.com/

[tiredofit10]

and pugs trying to act like everything was just hunkie dory until obama got in office, they are all delusional and need some shock therapy to shock them back to reality.

[PhilipTaylor]

Economic Recovery = Main Street Recover ### NOT Wall Street Recovery

Wall Street Recovery = IRRELEVANT RECOVER for THE ELITES

Main Street Recovery=Government Credit Flows to Main Street = OBAMA FOCUS!
________________________________________________________________

Geithner/Summers=CLEARLY State NOT worried about Main Street Recovery

Geithner/Summers = Main Street Recovery will happen down the line!

GEITHNER/SUMMERS ONLY PRIORITY= MY BUDDIES ON WALL ST! = LOVE "TRICKLE DOWN!"

Geithner/Summers = Main Street can WAIT!

OBAMA CHANGE="TRICKLE UP"=Credit to Main Street at FAIR RATES,FEES,&Contracts!

[Bitsko]

Always nice to hear the MSM state the obvious, and what normal Americans have known for years.

[norkas]

Barak Obama is now giving money to Botswana in the tune of $250,000,000 million for the diamond trade. Plus they will guarentee a over 70% of a billion and some of the funds will go to sight holders.

Sight holders are cutters of get roght almsot every month from De Beers.

Some of the site holders have been involved in a multi billion dollar fraud that NYC prosecuters covered up from the public. These sight holders were bribing the GIA which is a diamond grading lab for better grades. The diamonds often never came close to matching the grading report and often costing the consumer40%- 200% more then the true value had then been graded correctly.

Now i know Barak Obama does not know this but others do that are involved including the whores ate De Beers who benefited big time from this multi billion dollar fraud.

[AngieMom57]

Here is sustainable solution! Send thousands of copies of this book to our treasury...

Interview with David Korten: "Agenda for a New Economy: From Phantom Wealth to Real Wealth"

http://www.democracynow.org/2009/1/26/david_korten_agenda_for_a_new

[norkas]

2008 and the 7 years we developed the biggest ponzi scams ever with credit default, directives, no money down on homes and LOWLIFE on WALL STREET who were involved in these business models that would lead us to a multi trillion meltdown that we have to pay.

Good news no one will be charged and it will happen again.

Barak Obama i voted for you please do NOT behave blind and dumb. Loan officers gave loans that they knew would never be approved . Many loan offices complained about the quality of the loans but were threatened with lost of job if they did not comply to fraudlent business practices.

We are now paing trillions to cover these frauds and Barak Obama you better open you eyes and quit playing stupid.

We want justice and you promised a change . Please keep your word and you will see all people will be happy. If you allow them to get away with this fraud you are the same old we wanted to run away from

[TJCole]

When will we end Corporate "Personhood" and this perversion that $ Money is Free Speech thus legalizing bribery, and finally have Public Financing of Elections..?

If you think that was bad wait till this usurious loansharking of Credit Card Rates explodes..!

[jeanrenoir]

Bottom line: The worst city in history for the wealth of NYC, which is now headed into a very long decline, as its financial economy implodes, its richest people lose a third of their wealth, at least, and the age-old symbol of New York's cultural and media pre-eminence, the Times itself, is eclipsed by the Net. Texas will soon be a much more populous and wealthier state than NY and New England put together. You reap what you sow.

[Pdubya]

At least the editors won't have to re-title the article in 2010

[Badfickle]

Yes. How dare Obama not wave his magic wand and fix all the garbage the Republicans heaped on us! And where are the unicorns? I expect him to give everyone a unicorn!

[Pdubya]

I'm not sidestepping W.'s role and am not partisan in my statement. W. helped prep the Constitution for the New World Order and Obama is going to sell it to us.

[WorkingClass]

2008 the worst year in history. Somebody help me. Who was president in 2008? Wait, I remember now. It was Republican, George Bush. And it was the last year of his second term. So it took him 8 years to drive our economy into the ground. I guess you could say the Bush Administration and the Republican Party ruined the country.

[socialmistfit]

Way over simplification.

Like Clinton's tech stock success in the 90s, bubbles pop in the free market. They are called "corrections". The reason this bubble grew so large was government meddling for social engineering causes (e.g., all the poor people should get a house too), and Greenspan's economic engineering at the Fed to keep rates artificially low. The resulting feeding frenzy in the housing market was the root cause of this current global economic "pop".

The real story will be our failure to recover in 2009 and 2010 because the Obama administration used the "crisis" to load up on social spending debt to a tune of 9.6 trillion.

[woundedduck]

This is what we get for having low taxes: the rich want to squeeze as much take-home cash out of their companies as possible, so their main motivation is to take profits whenever possible. If they paid income tax in the 70% range, like before Reagan, they instead plow their income back into the company--and not park it in the stock market--and, voila! the companies grow, hire more workers, and in the long run, owners make more money in the long run.

How many depressions do we need to have before we get this?

(It also wouldn't hurt if we deported Phil Gramm to the Cayman Islands.)

[Pearlman]

What do we do with the other supporters of Mr. Gramm's bill, like Pelosi and Frank. They all voted in favor... oh, and don't forget Mr. Clinton, who signed and praised the bill. Wow! The revisionists are always on the rewrite.

[Brokenduck]

Amen to that. By the way, nice handle.