NEWS BLIPS
Thor Appears As Fortune 500 Company For the First Time In 2018
Editor's Note: This news item was retrieved and first published through IndyStar's website.
This year for the anticipated and prestigious Fortune 500 list in Fortune, we see a company who has been a powerhouse, growing its business exponentially in the recreational vehicle market. For the first time this year, Thor Industries jumped from No. 540 in 2017 to No. 392 in 2018. Fortune says the company has surpassed $7.2 billion in revenues, and that its profits have increased by more than 58 percent year over year. Eight companies headquartered in Indiana made the updated Fortune 500 list of businesses with the most revenue in the U.S. from Fortune's Magazine.
According to the news article by Andrew Clark in IndyStar, "Elkhart's economy relies almost entirely on the RV industry, with nearly 90 percent of RVs built there. And right now, the RV business is booming — manufacturers last year shipped a record 504,600 RVs, an increase of 17.2 percent. That boom has also caused Elkhart's unemployment rate to plunge to an absurdly low 2.2 percent." The top five companies nationwide on this year's Fortune 500 list are Walmart, Exxon Mobil, Berkshire Hathaway, Apple and UnitedHealth Group. No big surprise there. Other notable rankings are General Motors at No. 10, Kroger at No. 17 and Boeing at No. 27.
For the full article on IndyStar, visit this link.