The top 500 US corporations saw their profits plunge 85 per cent in 2008, their worst showing in more than half a century. Unsurprisingly, the financial and automotive sectors were the worst hit, with the former reporting 214.3 billion dollars in losses, 99.3 billion of which came from one company - battered insurance group AIG.

In Fortune's latest annual listing of the top 500 US companies, energy and oil firms held three of the top four positions.

• 1.     ExxonMobil snagged top spot
  
• 2.     Wal-Mart dropped to number two as its profit plunge.
  
• 3.     Chevron placed on third position  (verge of bankruptcy)
  
• 4.     Conoco Philipps was ranked fourth along with General Electric.
  
• 5.     Automaker General Motors remained on sixth position (verge of bankruptcy)
  
• 6.     Ford Automaker Ford remained on seventh position (verge of bankruptcy)
  
• 7.     AIG suffered the biggest drop in the standings, falling from 13th to 245th place.
  

Courtesy: Agencies