FORTUNE, which annually lists the 500 biggest industrial corporations in the U.S. and the 300 largest outside the U.S., has combined the top 50 for the first time in its August issue, published this week. Of the world's largest industrials, 24 are based in the U.S. Ten of the top twelve are American. Indeed, three of the top five are Detroit's General Motors, Ford and Chrysler. Half of the top dozen have headquarters in New York City or its suburbs.
What is most striking is the American edge in profitability: the 24 U.S. companies account for 71% of the total net income....
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