FORTUNE recently released their new 50 Most Admired Companies in the World list. I was fairly sure Goldman Sachs (GS) would’ve taken a nose dive into the abyss of unadmired companies … well, I was very wrong — they made the Top 10.
This begs the question: does FORTUNE’s list of Most Admired Companies prove we have a weird blind spot for those who manipulate the system at our expense? Do we simply admire unabashed Gordon Gekko style greed? Or is it something more masochistic?
Interestingly, other bailed out banks made the list: JP Morgan (JPM) and Wells Fargo (WFC). Does this mean we admire companies that would have otherwise gone bankrupt had socialism for corporations not kicked in? Whether we are admiring these three welfare recipients for their business management or their value add to society, I can’t figure how they are among the Top 50 Most Admired Companies in the World. What does that say about the other companies??
How about other Top 15 companies Wal-Mart (WMT), Coca-Cola (KO), and McDonald’s (MCD)? Do we admire them for their systematic destruction of mom and pop businesses and health? I must be missing the point of FORTUNE’s list.
This year’s biggest blunder on the list is Toyota (TM). Given the recent debacle, shouldn’t they have been disqualified? Instead, they’re ranked at lucky number 7.
For what it’s worth, here’s the Top 50 Most Admired Companies in the World according to FORTUNE:
|4||Johnson & Johnson (JNJ)|
|6||Procter & Gamble (PG)|
|7||Toyota Motor (TM)|
|8||Goldman Sachs Group (GS)|
|9||Wal-Mart Stores (WMT)|
|16||General Electric (GE)|
|18||J.P. Morgan Chase (JPM)|
|19||Walt Disney (DIS)|
|20||Cisco Systems (CSCO)|
|21||Costco Wholesale (COST)|
|28||Exxon Mobil (XOM)|
|29||American Express (AXP)|
|36||Honda Motor (HMC)|
|37||Best Buy (BBY)|
|39||Wells Fargo (WFC)|
|47||General Mills (GIS)|
|48||Marriott International (MAR)|
What do you think of FORTUNE’s new list? Let us know in the comments below or click here to chat in our new Forum.