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List of Lists HOOVER’S RANKINGS LEGAL, BUSINESS,AND FINANCIAL SERVICES The 300 Largest Companies by Sales in Hoover’s Handbook of American Business 2003 ..............2–4 The 300 Most Profitable Companies in Hoover’s Handbook of American Business 2003 ..............5–7 The 300 Most Valuable Public Companies in Hoover’s Handbook of American Business 2003 ...................................................8–10 The 300 Largest Employers in Hoover’s Handbook of American Business 2003 ..........11–13 The 100 Fastest-Growing Companies by Sales Growth in Hoover’s Handbook of American Business 2003 .......................................................14 The 100 Fastest-Growing Companies by Employment Growth in Hoover’s Handbook of American Business 2003 ..................................15 The 70 Shrinking Companies by Sales Growth in Hoover’s Handbook of American Business 2003 .......................................................16 The 100 Shrinking Companies by Employment Growth in Hoover’s Handbook of American Business 2003 .......................................................17 Top 25 USBanks by Total Assets.............................35 America’s Top 20 Money Managers.........................35 Top 25 US Law Firms..............................................36 America’s Top 20 Tax and Accounting Firms.........36 THE BIGGEST AND THE RICHEST The Hoover’s 500: America’s Largest Business Enterprises......................................................18–22 The FORTUNE 500 Largest USCorporations...23–27 The Forbes 500 Largest Private Companies .......28–32 Forbes 25Greatest US Fortunes.............................33 Top 20 in CEO Compensation.................................33 Forbes 40 Most Powerful Celebrities......................34 The 20 Most Powerful Women in Business............34 VIII MEDIA Advertising Age’s Top 50 Media Companies by Revenue............................................................37 RETAIL Chain Store Age ’s Top 25 USRetailers...................38 Supermarket News’ Top 20 Supermarket Companies............................................................38 Top 25 Full-Service Restaurant Chains..................39 Top 25 Quick-Service Restaurant Chains...............39 Top 15 Convenience Store Companies...................39 TECHNOLOGY Software Magazine ’s Top 50 Software Companies by Revenue .........................................40 Top 10 Telecommunications Companies................40 THE WORKPLACE FORTUNE’s 100 Best Companies to Work for in America.......................................................41 America’s 10 Most Admired Companies.................42 The Top 20 Black-Owned Businesses......................42 The Top 20 Hispanic-Owned Businesses................42 The Top 25 Companies for Female Executives ........43 The 25 Best Companies for Minorities...................43 HOOVER’S HANDBOOK OF AMERICAN BUSINESS 2003 Companies Profiled VOLUME 1 3Com Corporation...................................................46 3M Company............................................................48 7-Eleven, Inc............................................................50 Abbott Laboratories.................................................52 ABC, Inc....................................................................54 Abercrombie & Fitch Co..........................................56 Ace Hardware Corporation......................................58 Adams Resources & Energy, Inc.............................60 ADC Telecommunications, Inc................................62 Administaff, Inc........................................................64 Adobe Systems Incorporated...................................66 Adolph Coors Company...........................................68 Advance Publications, Inc........................................70 Advanced Micro Devices, Inc...................................72 AdvancePCS, Inc......................................................74 The AES Corporation...............................................76 Aetna Inc..................................................................78 Affiliated Computer Services, Inc............................80 AFLAC Incorporated................................................82 A.G. Edwards, Inc.....................................................84 AGCO Corporation...................................................86 Agilent Technologies, Inc........................................88 Air Products and Chemicals, Inc.............................90 Airborne, Inc............................................................92 AK Steel Holding Corporation................................94 Alaska Air Group, Inc...............................................96 Alberto-Culver Company.........................................98 Albertson’s, Inc.......................................................100 Alcoa Inc.................................................................102 Allegheny Energy, Inc............................................104 Allegheny Technologies Incorporated...................106 Allergan, Inc...........................................................108 Alliant Techsystems Inc.........................................110 Allied Waste Industries, Inc...................................112 Allmerica Financial Corporation...........................114 The Allstate Corporation.......................................116 ALLTEL Corporation..............................................118 Amazon.com, Inc...................................................120 Amerada Hess Corporation....................................122 AMERCO.................................................................124 Ameren Corporation..............................................126 America West Holdings Corporation....................128 American Electric Power Company, Inc...............130 American Express Company..................................132 American Financial Group, Inc.............................134 American Greetings Corporation..........................136 American International Group, Inc......................138 American Standard Companies Inc.......................140 AmerisourceBergen Corporation..........................142 Amgen Inc..............................................................144 Amkor Technology, Inc..........................................146 AMR Corporation...................................................148 AmSouth Bancorporation......................................150 Anadarko Petroleum Corporation.........................152 Analog Devices, Inc................................................154 Anheuser-Busch Companies, Inc..........................156 Anixter International Inc.......................................158 Anthem, Inc............................................................160 AOL Time Warner Inc............................................162 Aon Corporation.....................................................164 Apache Corporation...............................................166 Apple Computer, Inc..............................................168 Applied Materials, Inc............................................170 Aquila, Inc..............................................................172 ARAMARK Corporation..........................................174 Arch Coal, Inc........................................................176 Archer Daniels Midland Company.........................178 Armstrong Holdings, Inc.......................................180 Arrow Electronics, Inc...........................................182 ArvinMeritor, Inc....................................................184 Ashland Inc.............................................................186 AT&T Corp..............................................................188 Automatic Data Processing, Inc............................190 AutoNation, Inc......................................................192 AutoZone, Inc.........................................................194 Avery Dennison Corporation.................................196 Avnet, Inc...............................................................198 Avon Products, Inc.................................................200 Baker & McKenzie.................................................202 Baker Hughes Incorporated..................................204 Ball Corporation.....................................................206 Bank of America Corporation................................208 The Bank of New York Company, Inc...................210 BANK ONE CORPORATION..................................212 Barnes & Noble, Inc...............................................214 Bausch & Lomb Incorporated...............................216 Baxter International Inc........................................218 BB&T Corporation.................................................220 The Bear Stearns Companies Inc..........................222 Bechtel Group, Inc.................................................224 Beckman Coulter, Inc............................................226 Becton, Dickinson and Company..........................228 Bed Bath & Beyond Inc.........................................230 BellSouth Corporation...........................................232 Bemis Company, Inc..............................................234 Berkshire Hathaway Inc........................................236 Best Buy Co., Inc...................................................238 Bethlehem Steel Corporation................................240 Beverly Enterprises, Inc........................................242 Big Lots, Inc...........................................................244 BJ’s Wholesale Club, Inc........................................246 The Black & Decker Corporation..........................248 Blockbuster Inc......................................................250 Blue Cross and Blue Shield Association...............252 BMC Software, Inc.................................................254 The Boeing Company.............................................256 Boise Cascade Corporation....................................258 Borders Group, Inc................................................260 BorgWarner Inc......................................................262 Boston Celtics Limited Partnership......................264 Boston Scientific Corporation...............................266 Bowater Incorporated............................................268 Briggs & Stratton Corporation.............................270 Brinker International, Inc.....................................272 Bristol-Myers Squibb Company.............................274 Broadwing Inc........................................................276 Brown Shoe Company, Inc....................................278 Brown-Forman Corporation..................................280 Brunswick Corporation.........................................282 Budget Group, Inc.................................................284 Burger King Corporation......................................286 HOOVER’S HANDBOOK OF AMERICAN BUSINESS 2003 IX Burlington Coat Factory Warehouse....................288 Burlington Northern Santa Fe Corporation.........290 Burlington Resources Inc......................................292 Cablevision Systems Corporation.........................294 Cabot Corporation.................................................296 CALPERS................................................................298 Campbell Soup Company......................................300 Capital One Financial Corporation.......................302 Cardinal Health, Inc..............................................304 Caremark Rx, Inc...................................................306 Cargill, Incorporated..............................................308 Carlisle Companies Incorporated..........................310 Carlson Wagonlit Travel........................................312 Carnival Corporation.............................................314 Caterpillar Inc........................................................316 CBRL Group, Inc....................................................318 CBS Television Network........................................320 CDW Computer Centers, Inc.................................322 CellStar Corporation..............................................324 Cendant Corporation.............................................326 CenterPoint Energy, Inc........................................328 Centex Corporation................................................330 Ceridian Corporation.............................................332 C.H. Robinson Worldwide, Inc..............................334 Champion Enterprises, Inc....................................336 The Charles Schwab Corporation.........................338 Charming Shoppes, Inc.........................................340 Charter Communications, Inc..............................342 ChevronTexaco Corporation..................................344 Chiquita Brands International, Inc.......................346 The Chubb Corporation.........................................348 Church & Dwight Co., Inc.....................................350 CIGNA Corporation................................................352 Cincinnati Financial Corporation.........................354 Cinergy Corp..........................................................356 Cintas Corporation.................................................358 Circuit City Group.................................................360 Cisco Systems, Inc.................................................362 CIT Group Inc........................................................364 Citigroup Inc..........................................................366 Citizens Communications Company.....................368 Clear Channel Communications, Inc....................370 The Clorox Company.............................................372 CMS Energy Corporation......................................374 CNA Financial Corporation...................................376 CNF Inc..................................................................378 The Coca-Cola Company.......................................380 Coca-Cola Enterprises Inc.....................................382 Colgate-Palmolive Company.................................384 Collins & Aikman Corporation..............................386 Comcast Corporation.............................................388 Comerica Incorporated..........................................390 Commercial Metals Company...............................392 CompuCom Systems, Inc......................................394 Computer Associates International, Inc...............396 Computer Sciences Corporation...........................398 Compuware Corporation.......................................400 ConAgra Foods, Inc................................................402 ConocoPhillips.......................................................404 Conseco, Inc...........................................................406 CONSOL Energy Inc..............................................408 Consolidated Edison, Inc.......................................410 Constellation Brands, Inc......................................412 Constellation Energy Group, Inc..........................414 ContiGroup Companies, Inc..................................416 Continental Airlines, Inc.......................................418 X Cooper Industries, Ltd...........................................420 Cooper Tire & Rubber Company...........................422 Corning Incorporated............................................424 Costco Wholesale Corporation..............................426 Countrywide Credit Industries, Inc......................428 Cox Communications, Inc.....................................430 Cox Enterprises, Inc..............................................432 C. R. Bard, Inc........................................................434 Crane Co.................................................................436 Credit Suisse First Boston Corporation................438 Crompton Corporation..........................................440 Crown Cork & Seal Company, Inc........................442 CSX Corporation....................................................444 Cummins, Inc........................................................446 CVS Corporation....................................................448 Dana Corporation...................................................450 Danaher Corporation.............................................452 D&B........................................................................454 Darden Restaurants, Inc........................................456 Dean Foods Company............................................458 Deere & Company..................................................460 Del Monte Foods Company...................................462 Dell Computer Corporation...................................464 Deloitte Touche Tohmatsu....................................466 Delphi Corporation................................................468 Delta Air Lines, Inc................................................470 Deluxe Corporation................................................472 Denny’s Corporation..............................................474 Devon Energy Corporation....................................476 DHL Worldwide Express, Inc.................................478 The Dial Corporation.............................................480 Diebold, Incorporated............................................482 Dillard’s, Inc...........................................................484 DIMON Incorporated.............................................486 Dole Food Company, Inc.......................................488 Dollar General Corporation...................................490 Dominion Resources, Inc......................................492 Domino’s, Inc.........................................................494 Dover Corporation.................................................496 The Dow Chemical Company................................498 Dow Jones & Company, Inc...................................500 D.R. Horton, Inc....................................................502 Dreyer’s Grand Ice Cream, Inc..............................504 DTE Energy Company...........................................506 Duke Energy Corporation.....................................508 Dynegy Inc.............................................................510 E. & J. Gallo Winery ..............................................512 EarthLink, Inc........................................................514 Eastman Chemical Company................................516 Eastman Kodak Company.....................................518 Eaton Corporation.................................................520 EchoStar Communications Corporation..............522 Eckerd Corporation...............................................524 Ecolab Inc...............................................................526 Edison International..............................................528 E. I. du Pont de Nemours and Company..............530 El Paso Corporation...............................................532 Electronic Data Systems Corporation...................534 Eli Lilly and Company...........................................536 EMC Corporation...................................................538 EMCOR Group, Inc................................................540 Emerson Electric Co..............................................542 Encompass Services Corporation..........................544 Engelhard Corporation..........................................546 Entergy Corporation..............................................548 EOTT Energy Partners, L.P....................................550 HOOVER’S HANDBOOK OF AMERICAN BUSINESS 2003 Equifax Inc.............................................................552 Equity Group Investments, L.L.C.........................554 Ernst & Young International.................................556 The Estée Lauder Companies Inc.........................558 E*TRADE Group, Inc.............................................560 The E. W. Scripps Company..................................562 Exelon Corporation................................................564 Express Scripts, Inc...............................................566 Exxon Mobil Corporation......................................568 Family Dollar Stores, Inc......................................570 Fannie Mae.............................................................572 Farmland Industries, Inc.......................................574 Federal-Mogul Corporation...................................576 Federated Department Stores, Inc........................578 FedEx Corporation.................................................580 Fidelity National Financial, Inc.............................582 Fifth Third Bancorp...............................................584 The First American Corporation...........................586 First Data Corporation...........................................588 FirstEnergy Corp...................................................590 Fisher Scientific International Inc........................592 FleetBoston Financial Corporation.......................594 Fleetwood Enterprises, Inc....................................596 Fleming Companies, Inc........................................598 Flowers Foods, Inc.................................................600 Fluor Corporation..................................................602 FMC Corporation...................................................604 FMR Corp...............................................................606 Foot Locker, Inc.....................................................608 Ford Motor Company.............................................610 Fortune Brands, Inc...............................................612 Foster Wheeler Ltd................................................614 Fox Entertainment Group, Inc..............................616 FPL Group, Inc......................................................618 Franklin Resources, Inc.........................................620 Freddie Mac............................................................622 Freeport-McMoRan Copper & Gold Inc................624 Furniture Brands International, Inc.....................626 Gannett Co., Inc.....................................................628 The Gap, Inc...........................................................630 Gateway, Inc...........................................................632 GATX Corporation..................................................634 Gemstar-TV Guide International, Inc...................636 GenCorp Inc...........................................................638 Genentech, Inc.......................................................640 General Cable Corporation....................................642 General Dynamics Corporation.............................644 General Electric Company.....................................646 General Mills, Inc...................................................648 General Motors Corporation.................................650 Genuine Parts Company........................................652 Georgia-Pacific Corporation..................................654 The Gillette Company............................................656 Golden West Financial Corporation......................658 The Goldman Sachs Group, Inc............................660 Goodrich Corporation............................................662 The Goodyear Tire & Rubber Company................664 Goody’s Family Clothing, Inc................................666 The Great Atlantic & Pacific Tea Company, Inc. ....668 Great Lakes Chemical Corporation.......................670 The Green Bay Packers, Inc..................................672 Guidant Corporation..............................................674 Halliburton Company............................................676 Hallmark Cards, Inc...............................................678 H&R Block, Inc......................................................680 Harley-Davidson, Inc.............................................682 Harman International Industries..........................684 Harrah’s Entertainment, Inc.................................686 Harris Corporation.................................................688 The Hartford Financial Services Group, Inc........690 Hartmarx Corporation...........................................692 Hasbro, Inc.............................................................694 HCA Inc..................................................................696 Health Net, Inc.......................................................698 HEALTHSOUTH Corporation................................700 The Hearst Corporation.........................................702 Hercules Incorporated...........................................704 Herman Miller, Inc.................................................706 Hershey Foods Corporation...................................708 The Hertz Corporation..........................................710 Hewlett-Packard Company....................................712 Hicks, Muse, Tate & Furst Incorporated...............714 Highmark Inc.........................................................716 Hillenbrand Industries, Inc...................................718 Hilton Hotels Corporation.....................................720 H.J. Heinz Company..............................................722 The Home Depot, Inc. ...........................................724 HON INDUSTRIES Inc..........................................726 Honeywell International Inc.................................728 Hormel Foods Corporation...................................730 Host Marriott Corporation....................................732 Household International, Inc................................734 Humana Inc...........................................................736 Hyatt Corporation..................................................738 IGA, INC.................................................................740 IKON Office Solutions, Inc....................................742 Illinois Tool Works Inc..........................................744 Imation Corp..........................................................746 IMC Global Inc.......................................................748 Ingersoll-Rand Company Limited.........................750 Ingram Industries Inc............................................752 Ingram Micro Inc...................................................754 Intel Corporation...................................................756 International Business Machines Corporation.......758 International Flavors & Fragrances Inc...............760 International Multifoods Corporation...................762 International Paper Company...............................764 The Interpublic Group of Companies, Inc............766 Interstate Bakeries Corporation............................768 ITT Industries, Inc.................................................770 Jabil Circuit, Inc....................................................772 Jack in the Box Inc................................................774 Jacobs Engineering Group Inc..............................776 J.B. Hunt Transport Services, Inc.........................778 J. C. Penney Corporation, Inc...............................780 JDS Uniphase Corporation....................................782 Jefferson-Pilot Corporation...................................784 Jo-Ann Stores, Inc..................................................786 John Hancock Financial Services, Inc..................788 Johnson & Johnson...............................................790 Johnson Controls, Inc............................................792 Jones Apparel Group, Inc......................................794 J.P. Morgan Chase & Co.........................................796 Kaiser Foundation Health Plan, Inc.....................798 Kellogg Company...................................................800 Kelly Services, Inc..................................................802 Kerr-McGee Corporation.......................................804 KeyCorp..................................................................806 KeySpan Corporation.............................................808 Kimberly-Clark Corporation.................................810 Kindred Healthcare, Inc........................................812 King Ranch, Inc.....................................................814 HOOVER’S HANDBOOK OF AMERICAN BUSINESS 2003 XI Kinko’s, Inc............................................................816 KLA-Tencor Corporation.......................................818 Kmart Corporation................................................820 Knight Ridder Inc..................................................822 Koch Industries, Inc..............................................824 Kohlberg Kravis Roberts & Co..............................826 Kohl’s Corporation.................................................828 KPMG International...............................................830 Kraft Foods Inc......................................................832 The Kroger Co........................................................834 VOLUME 2 L-3 Communications Holdings, Inc......................836 Lafarge North America Inc....................................838 Land O’Lakes, Inc..................................................840 La-Z-Boy Incorporated...........................................842 Lear Corporation....................................................844 Leggett & Platt, Incorporated...............................846 Lehman Brothers Holdings Inc.............................848 Lennar Corporation...............................................850 Lennox International Inc.......................................852 Level 3 Communications, Inc...............................854 Levi Strauss & Co..................................................856 Lexmark International, Inc...................................858 Liberty Media Corporation....................................860 Liberty Mutual Insurance Companies...................862 Limited Brands, Inc...............................................864 Lincoln National Corporation...............................866 Liz Claiborne, Inc..................................................868 Lockheed Martin Corporation...............................870 Loews Corporation.................................................872 Longs Drug Stores Corporation............................874 Loral Space & Communications Ltd.....................876 Louisiana-Pacific Corporation...............................878 Lowe’s Companies, Inc..........................................880 LSI Logic Corporation...........................................882 The LTV Corporation.............................................884 The Lubrizol Corporation......................................886 Lucent Technologies Inc........................................888 Lyondell Chemical Company.................................890 MacAndrews & Forbes Holdings Inc.....................892 Magellan Health Services, Inc...............................894 Mandalay Resort Group.........................................896 Manor Care, Inc.....................................................898 Manpower Inc.........................................................900 Marathon Oil Corporation.....................................902 Marriott International, Inc....................................904 Mars, Incorporated.................................................906 Marsh & McLennan Companies, Inc.....................908 Martha Stewart Living Omnimedia Inc................910 Masco Corporation.................................................912 Massachusetts Mutual Life Insurance...................914 MasterCard International Incorporated................916 Mattel, Inc..............................................................918 Maxtor Corporation...............................................920 MAXXAM Inc..........................................................922 The May Department Stores Company.................924 Maytag Corporation...............................................926 MBNA Corporation.................................................928 McCormick & Company, Incorporated.................930 McDermott International, Inc...............................932 McDonald’s Corporation........................................934 The McGraw-Hill Companies, Inc.........................936 McKesson Corporation..........................................938 McKinsey & Company...........................................940 XII McLeodUSA Incorporated......................................942 Medtronic, Inc........................................................944 Mellon Financial Corporation...............................946 Merck & Co., Inc....................................................948 Merrill Lynch & Co., Inc........................................950 Metro-Goldwyn-Mayer Inc.....................................952 Metropolitan Life Insurance Company.................954 MGM Mirage...........................................................956 Michaels Stores, Inc...............................................958 Micron Technology, Inc.........................................960 Microsoft Corporation...........................................962 Millennium Chemicals Inc....................................964 Mohawk Industries, Inc.........................................966 Molex Incorporated................................................968 Monsanto Company...............................................970 The MONY Group Inc............................................972 Morgan Stanley......................................................974 Motorola, Inc..........................................................976 MPS Group, Inc......................................................978 NACCO Industries, Inc..........................................980 Nash Finch Company.............................................982 NASD......................................................................984 National Broadcasting Company, Inc....................986 National City Corporation.....................................988 National Fuel Gas Company..................................990 National Semiconductor Corporation...................992 Nationwide.............................................................994 Navistar International Corporation.......................996 NCR Corporation...................................................998 The Neiman Marcus Group, Inc..........................1000 New York Life Insurance Company.....................1002 New York Stock Exchange, Inc...........................1004 The New York Times Company...........................1006 Newell Rubbermaid Inc.......................................1008 Newmont Mining Corporation............................1010 Nextel Communications, Inc...............................1012 Nicor Inc...............................................................1014 NIKE, Inc..............................................................1016 NiSource Inc........................................................1018 Nordstrom, Inc.....................................................1020 Norfolk Southern Corporation............................1022 Northeast Utilities................................................1024 Northern Trust Corporation................................1026 Northrop Grumman Corporation.......................1028 Northwest Airlines Corporation..........................1030 Northwestern Mutual...........................................1032 Novell, Inc............................................................1034 Nucor Corporation...............................................1036 NVR, Inc...............................................................1038 Occidental Petroleum Corporation.....................1040 Office Depot, Inc..................................................1042 OfficeMax, Inc......................................................1044 Olin Corporation..................................................1046 Omnicom Group Inc............................................1048 ONEOK Inc...........................................................1050 Oracle Corporation..............................................1052 OshKosh B’Gosh, Inc...........................................1054 Outback Steakhouse, Inc.....................................1056 Owens & Minor, Inc.............................................1058 Owens Corning.....................................................1060 Owens-Illinois, Inc...............................................1062 Oxford Health Plans, Inc.....................................1064 PACCAR Inc..........................................................1066 PacifiCare Health Systems, Inc...........................1068 Palm, Inc..............................................................1070 The Pantry, Inc.....................................................1072 HOOVER’S HANDBOOK OF AMERICAN BUSINESS 2003 Park Place Entertainment Corporation..............1074 Parker Hannifin Corporation..............................1076 Pathmark Stores, Inc...........................................1078 Payless ShoeSource, Inc......................................1080 The Penn Traffic Company..................................1082 Peoples Energy Corporation................................1084 PeopleSoft, Inc.....................................................1086 The Pep Boys - Manny, Moe & Jack....................1088 The Pepsi Bottling Group, Inc............................1090 PepsiCo, Inc..........................................................1092 Performance Food Group Company...................1094 PerkinElmer, Inc..................................................1096 Perot Systems Corporation.................................1098 Peter Kiewit Sons’, Inc........................................1100 PETsMART, Inc.....................................................1102 Pfizer Inc..............................................................1104 PG&E Corporation...............................................1106 Phelps Dodge Corporation...................................1108 Philip Morris Companies Inc...............................1110 Phillips-Van Heusen Corporation........................1112 Pier 1 Imports, Inc...............................................1114 Pilgrim’s Pride Corporation................................1116 Pinnacle West Capital Corporation.....................1118 Pioneer-Standard Electronics, Inc......................1120 Pitney Bowes Inc..................................................1122 The Pittston Company.........................................1124 Plains All American Pipeline, L.P. .......................1126 The PNC Financial Services Group, Inc.............1128 Polaris Industries Inc...........................................1130 Polo Ralph Lauren Corporation..........................1132 Potlatch Corporation...........................................1134 PPG Industries, Inc..............................................1136 PPL Corporation..................................................1138 Praxair, Inc...........................................................1140 Precision Castparts Corp.....................................1142 Premcor Inc.........................................................1144 PricewaterhouseCoopers.....................................1146 PRIMEDIA, Inc.....................................................1148 Principal Financial Group, Inc............................1150 The Procter & Gamble Company........................1152 Progress Energy, Inc............................................1154 The Progressive Corporation...............................1156 Providian Financial Corporation.........................1158 Prudential Financial, Inc.....................................1160 Public Service Enterprise Group Incorporated....1162 Publix Super Markets, Inc...................................1164 Pulte Homes, Inc.................................................1166 QUALCOMM Incorporated...................................1168 Qwest Communications International Inc.........1170 RadioShack Corporation......................................1172 Raytheon Company..............................................1174 The Reader’s Digest Association, Inc..................1176 Reebok International Ltd.....................................1178 Regions Financial Corporation...........................1180 Regis Corporation................................................1182 Rent-A-Center, Inc...............................................1184 Revlon, Inc...........................................................1186 Rite Aid Corporation............................................1188 R.J. Reynolds Tobacco Holdings, Inc..................1190 Roadway Corporation...........................................1192 Robert Half International Inc..............................1194 Rockwell Automation, Inc...................................1196 Rohm and Haas Company...................................1198 Ross Stores, Inc....................................................1200 Royal Caribbean Cruises Ltd...............................1202 R. R. Donnelley & Sons Company.......................1204 Russell Corporation.............................................1206 Ryder System, Inc................................................1208 Ryerson Tull, Inc..................................................1210 The Ryland Group, Inc........................................1212 Sabre Inc..............................................................1214 SAFECO Corporation...........................................1216 Safeguard Scientifics, Inc....................................1218 Safeway Inc...........................................................1220 The St. Paul Companies, Inc...............................1222 Saks Incorporated................................................1224 Sanmina-SCI Corporation...................................1226 Sara Lee Corporation...........................................1228 SBC Communications Inc...................................1230 S.C. Johnson & Son, Inc......................................1232 SCANA Corporation.............................................1234 Schering-Plough Corporation.............................1236 Schlumberger Limited.........................................1238 Scholastic Corporation........................................1240 Scientific-Atlanta, Inc..........................................1242 Seaboard Corporation..........................................1244 Sealed Air Corporation........................................1246 Sears, Roebuck and Co........................................1248 Sempra Energy.....................................................1250 Sequa Corporation...............................................1252 Service Corporation International......................1254 The ServiceMaster Company...............................1256 Sharper Image Corporation.................................1258 The Shaw Group Inc............................................1260 Shell Oil Company...............................................1262 The Sherwin-Williams Company.........................1264 ShopKo Stores, Inc..............................................1266 Silicon Graphics, Inc...........................................1268 Simon Property Group, Inc.................................1270 Skadden, Arps, Slate, Meagher & Flom LLP.......1272 SLM Corporation.................................................1274 Smithfield Foods, Inc..........................................1276 Smurfit-Stone Container Corporation................1278 Snap-on Incorporated..........................................1280 Solectron Corporation.........................................1282 Solutia Inc............................................................1284 Sonoco Products Company.................................1286 Sotheby’s Holdings, Inc.......................................1288 Southern Company..............................................1290 Southern Union Company...................................1292 SouthTrust Corporation......................................1294 Southwest Airlines Co.........................................1296 Spartan Stores, Inc..............................................1298 Sprint Corporation...............................................1300 SPX Corporation..................................................1302 The Stanley Works...............................................1304 Staples, Inc...........................................................1306 Starbucks Corporation.........................................1308 Starwood Hotels & Resorts Worldwide, Inc.......1310 State Farm Insurance Companies.......................1312 State Street Corporation.....................................1314 Steelcase Inc.........................................................1316 Storage Technology Corporation........................1318 Sun Healthcare Group, Inc.................................1320 Sun Microsystems, Inc........................................1322 Sunoco, Inc..........................................................1324 SunTrust Banks, Inc............................................1326 SUPERVALU INC..................................................1328 Synovus Financial Corp.......................................1330 SYSCO Corporation.............................................1332 Target Corporation...............................................1334 TIAA-CREF...........................................................1336 HOOVER’S HANDBOOK OF AMERICAN BUSINESS 2003 XIII Tech Data Corporation.........................................1338 Tecumseh Products Company.............................1340 Tektronix, Inc.......................................................1342 Telephone and Data Systems, Inc.......................1344 Tellabs, Inc...........................................................1346 Temple-Inland Inc................................................1348 Tenet Healthcare Corporation.............................1350 Tenneco Automotive Inc......................................1352 Tennessee Valley Authority..................................1354 Teradyne, Inc........................................................1356 Terex Corporation................................................1358 Tesoro Petroleum Corporation............................1360 Texas Instruments Incorporated.........................1362 Textron Inc...........................................................1364 Thermo Electron Corporation.............................1366 Tiffany & Co.........................................................1368 The Timken Company..........................................1370 The TJX Companies, Inc......................................1372 TMP Worldwide Inc..............................................1374 Torchmark Corporation.......................................1376 The Toro Company...............................................1378 Tower Automotive, Inc.........................................1380 Toys “R’’ Us, Inc....................................................1382 Trammell Crow Company....................................1384 Trans World Entertainment Corporation...........1386 Transocean Inc.....................................................1388 Travelers Property Casualty Corp........................1390 Triarc Companies, Inc..........................................1392 Tribune Company.................................................1394 Trinity Industries, Inc..........................................1396 The Trump Organization.....................................1398 TruServ Corporation............................................1400 Tupperware Corporation......................................1402 TXU Corp..............................................................1404 Tyco International Ltd.........................................1406 Tyson Foods, Inc..................................................1408 UAL Corporation..................................................1410 Union Pacific Corporation...................................1412 Union Planters Corporation................................1414 Unisys Corporation..............................................1416 United Parcel Service, Inc...................................1418 United States Postal Service................................1420 United States Steel Corporation..........................1422 United Stationers Inc...........................................1424 United Technologies Corporation........................1426 UnitedHealth Group Incorporated......................1428 Universal Corporation..........................................1430 Univision Communications Inc...........................1432 Unocal Corporation..............................................1434 UNOVA, Inc...........................................................1436 UNUMProvident...................................................1438 URS Corporation..................................................1440 XIV US Airways Group, Inc.........................................1442 U.S. Bancorp.........................................................1444 USA Interactive, Inc.............................................1446 USAA.....................................................................1448 USFreightways Corporation................................1450 USG Corporation..................................................1452 UST Inc.................................................................1454 Valero Energy Corporation..................................1456 The Vanguard Group, Inc....................................1458 Verizon Communications Inc..............................1460 VF Corporation.....................................................1462 Viacom Inc............................................................1464 Viad Corp..............................................................1466 Visa International.................................................1468 Vishay Intertechnology, Inc.................................1470 Vulcan Materials Company..................................1472 Wachovia Corporation.........................................1474 Wakefern Food Corporation................................1476 Walgreen Co.........................................................1478 Wallace Computer Services, Inc..........................1480 Wal-Mart Stores, Inc............................................1482 The Walt Disney Company..................................1484 The Warnaco Group, Inc.....................................1486 Washington Mutual, Inc......................................1488 The Washington Post Company..........................1490 Waste Management, Inc.......................................1492 WellPoint Health Networks Inc...........................1494 Wells Fargo & Company......................................1496 Wendy’s International, Inc..................................1498 WESCO International, Inc...................................1500 Westar Energy, Inc...............................................1502 Western Digital Corporation...............................1504 Weyerhaeuser Company......................................1506 Whirlpool Corporation.........................................1508 Whole Foods Market, Inc.....................................1510 Wm. Wrigley Jr. Company...................................1512 The Williams Companies, Inc..............................1514 Williams-Sonoma, Inc.........................................1516 Winn-Dixie Stores, Inc........................................1518 Worthington Industries, Inc................................1520 W. R. Grace & Co.................................................1522 W.W. Grainger, Inc...............................................1524 Wyeth....................................................................1526 Wyndham International, Inc...............................1528 Xcel Energy Inc....................................................1530 Xerox Corporation...............................................1532 Yahoo! Inc............................................................1534 Yellow Corporation..............................................1536 York International Corporation...........................1538 Yum! Brands, Inc.................................................1540 Zale Corporation..................................................1542 Zions Bancorporation..........................................1544 HOOVER’S HANDBOOK OF AMERICAN BUSINESS 2003 ABOUT HOOVER’S HANDBOOK OF AMERICAN BUSINESS 2003 T hings aren’t always what they seem, or so the events in the world of business this past year suggest. Fact-finding and digging for information are the order of the day, and when you need information about companies, we believe that Hoover’s Business Press is the place to turn. For our Hoover’s Handbooks series of guides to businesses, we’ve done the sorting and sifting of information, leaving you with the facts you need to make the important decisions you face. Hoover’s Handbook of American Business is the first of our four-title series of handbooks that covers, literally, the world of business. The series is available as an indexed set, and also includes Hoover’s Handbook of World Business, Hoover’s Handbook of Private Companies and Hoover’s Handbook of Emerging Companies . This series brings you information on the biggest, fastestgrowing, and most influential enterprises in the world. In addition to the 2,550 companies featured in our handbooks, coverage of some 50,000 business enterprises is available in electronic format on our Web site, Hoover’s Online. Our goal is to provide one site that addresses all the needs of business professionals. Hoover’s has partnered with other prestigious business information and service providers to bring you all the right business information, services, and links in one place. Additionally, Hoover’s Company Information is available on more than 25 other sites on the Internet, including The Wall Street Journal, The New York Times, and through online services Reuters, Yahoo!, and America Online. 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For more details on how these companies were selected, see the section titled “Using the Profiles.” This book has four sections in two volumes: 1. “Using the Profiles” describes the contents of our profiles and explains the ways in which we gather and compile our data. 2. “A List-Lover’s Compendium” contains lists of the largest, smallest, best, most, and other superlatives related to companies involved in American business. 3. The Profiles section makes up the largest and most important part of the book — 750 profiles of major US enterprises, arranged alphabetically, with A-K in Volume 1 and L-Z in Volume 2. 4. Three indexes complete the book: In addition to the main index, which contains the names of brands, companies, and people mentioned in the profiles, the companies are also indexed by industry group and headquarters location. The indexes are at the end of Volume 2. Additionally, a list of all profiled companies is found near the front of each volume. As always, we hope you find our books useful. We invite your comments via phone (512-3744500), fax (512-374-4538), mail (5800 Airport Boulevard, Austin, Texas 78752), or e-mail (comments@hoovers.com). The Editors, Austin, Texas, October 2002 HOOVER’S HANDBOOK OF AMERICAN BUSINESS 2003 XV PFIZER INC Mighty pharma Pfizer, already one of the largest drug companies in the world, plans to become even larger by acquiring Pharmacia. The New York City-based druggernaut’s prescription products include such winners as Lipitor (cholesterol-lowering drug), Viagra (stalwart opponent of ED, or erectile dysfunction), Zoloft (antidepressant), and Norvasc (cardiovascular treatment). Subsidiaries in the Pfizer pharmaceutical group include Warner-Lambert, ParkeDavis, and Goedecke. Pfizer also makes Rezulin, a diabetes drug linked to more than 60 deaths (the count may reach as high as 400) in the US, where it was pulled from the market at the FDA’s request. The company, which allegedly withheld early signs of the drug’s dangers from the FDA, is fighting 4,000 legal claims involving Rezulin. In addition to prescription drugs, the firm makes OTC remedies, including halitosis hiders Certs and Dentyne; sniffle-and-sneeze treatments Benadryl and Sudafed; and a plethora of other products. Pfizer also keeps Fluffy and Fido in mind with its animal health products, including Revolution (antiparasitic). The firm is selling its Schick-Wilkinson Sword shaving products division, and may sell its Tetra products division and its Adams confectionary unit. Known for its massive sales force and marketing strength, the firm has built a pipeline that includes inhalable insulin, along with treatments for heart disease, epilepsy, depression, and other maladies. The Pharmacia buy will bring into Pfizer’s fold such bestsellers as anxiety drug Xanax, colorectal cancer therapy Camptosar, and arthritis therapy Celebrex, which the pair already copromote. The buy would also strengthen Pfizer’s research efforts, which have fizzled in recent years. HISTORY Charles Pfizer and his cousin, confectioner Charles Erhart, began making chemicals in Brooklyn in 1849. Products included camphor, citric acid, and santonin (an early antiparasitic). The company, incorporated in 1900 as Chas. Pfizer & Co., was propelled into the modern drug business when it was asked to mass-produce penicillin for the war effort in 1941. The company discovered Terramycin and introduced it in 1950. Pfizer bought drugmaker Roerig in 1953, its first major acquisition. In the 1950s the company opened branches in Belgium, Canada, Cuba, Mexico, and the UK and began manufacturing in Asia, Europe, and South America. By the mid-1960s Pfizer had worldwide sales of more than $200 million. 1104 Beginning in the late 1950s, Pfizer made Salk and Sabin polio vaccines and added new drugs, such as Diabinese (antidiabetic, 1958) and Vibramycin (antibiotic, 1967). It moved into consumer products in the early 1960s, buying BenGay, Desitin, and cosmetics maker Coty (sold 1992). It bought hospital products company Howmedica in 1972 (sold in 1998) and heart-valve maker Shiley in 1979. When growth slowed in the 1970s, new chairman Edmund Pratt increased R&D expenditures, resulting in Minipress (antihypertensive, 1975), Feldene (arthritis pain reliever, 1982), and Glucotrol (antidiabetic, 1984). Licensing agreements with foreign companies let Pfizer sell antihypertensive Procardia XL and antibiotic Cefobid. In the 1980s Pfizer expanded its hospital products division, buying 18 product lines and companies. Lawsuits over the failure of about 500 heart valves and the alleged falsification of records led Pfizer to divest most of Shiley’s operations in 1992. Drugs released that year included antidepressant Zoloft, antibiotic Zithromax, and cardiovascular agent Norvasc. In 1995 Pfizer discovered a genetic technique to prevent adult onset diabetes. In 1997 the company began promoting Lipitor, the cholesterollowering drug discovered by Warner-Lambert; it grabbed nearly 13% of the market in its first four months. Pfizer also launched Aricept, Eisai’s treatment for Alzheimer’s disease. Pfizer had one thing on its mind in 1998: pharmaceuticals. Amidst an orgy of divestitures in its medical products division (completely ditched by 1999), the company won FDA approval for Viagra. The little blue pill became a pop icon and seeming panacea (at least for uncreative comedians) for what the firm coyly referred to as “ED.” In 1999 Pfizer had a lot more than ED on its mind. The FDA OK’d its heart-rhythm drug Tikosyn, but complications with antibiotic Trovan led to labeling restrictions and later, in 2000, to lawsuits by people who claimed they suffered liver damage. The European Union banned its animal feed antibiotics while the company faced already slumping agricultural products sales. When Warner-Lambert said it would merge with American Home Products (now Wyeth), Pfizer sued to prevent that merger and eventually succeeded with its own hostile bid. The merger with Warner-Lambert was completed, and CEO William Steere retired. Pfizer also sold its animal feed additive business. Pfizer, IBM, and Microsoft in 2001 formed a joint venture to sell software to automate prescription writing and other administrative procedures in physicians’ offices. It also unveiled HOOVER’S HANDBOOK OF AMERICAN BUSINESS 2003 its Share Card program, designed to give discounts to its low-income, elderly patients in the US; critics argued such plans are a move to evade government price controls. In 2002 Pfizer came under federal scrutiny about Warner-Lambert’s alleged questionable sales practices in the early 1990s. Also that year the firm discovered the explosive potential of its research efforts as it suffered a blast and fire in an experimental chemical manufacturing building. It also teamed up with Serono to market multiple schlerosis drug Rebif in the US. OFFICERS Chairman, President, and CEO; President, Pfizer Pharmaceuticals Group: Henry A. McKinnell, age 59, $4,297,467 pay EVP and CFO: David L. Shedlarz, age 53, $1,509,700 pay EVP; President, Pfizer Pharmaceuticals Group and US Pharmaceuticals: Karen L. Katen, age 52, $1,898,025 pay (prior to promotion) SVP and General Counsel: Jeffery B. Kindler, age 46 SVP, Corporate Human Resources: Robert W. Norton, age 58 SVP, Government Relations, Media, Philanthropy, and Public Policy: Charles L. Hardwick SVP, Science and Technology: Peter B. Corr SVP; EVP, Pfizer Global Research and Development; President, Worldwide Strategic and Operations Management: George M. Milne Jr., age 58 VP and Controller; Controller, Pfizer Pharmaceuticals Group: Loretta V. Cangialosi Auditors: KPMG LLP LOCATIONS HQ: 235 E. 42nd St., New York, NY 10017 Phone: 212-573-2323 Fax: 212-573-7851 Web: www.pfizer.com Pfizer has operations in Africa, Asia and the Pacific Rim, Europe, North America, and South America. 2001 Sales $ mil. % of total US Japan Other countries 19,932 2,102 10,225 62 6 32 Total 32,259 100 PRODUCTS/OPERATIONS 2001 Sales $ mil. % of total Pharmaceuticals Consumer products 26,949 5,310 84 16 Total 32,259 100 Bristol-Myers Squibb ColgatePalmolive DuPont Eli Lilly GlaxoSmithKline Johnson & Johnson MedPointe Merck Novartis Novo Nordisk Roche St. Jude Medical Schering-Plough Wyeth Zonagen COMPETITORS Abbott Labs Amgen Aventis Bausch & Lomb Baxter Bayer AG Becton Dickinson HISTORICAL FINANCIALS & EMPLOYEES NYSE: PFE FYE: December 31 Annual Growth Sales ($ mil.) Net income ($ mil.) Income as % of sales Earnings per share ($) Stock price - FY high ($) Stock price - FY low ($) Stock price - FY close ($) P/E - high P/E - low Dividends per share ($) Book value per share ($) Employees 18.1% 28.6% — 22.3% — — 23.3% — — 15.5% 10.3% 9.2% 12/92 12/93 12/94 12/95 12/96 12/97 12/98 12/99 12/00 12/01 7,230 7,478 8,281 10,021 811 658 1,298 1,573 11.2% 8.8% 15.7% 15.7% 0.20 0.17 0.34 0.43 7.24 6.30 6.61 11.13 5.42 4.37 4.42 6.20 6.04 5.74 6.43 10.49 26 37 19 26 19 26 13 14 0.12 0.14 0.16 0.17 1.21 1.00 1.15 1.44 40,700 40,500 40,800 43,800 11,306 12,504 13,544 16,204 29,574 32,259 1,929 2,213 3,351 3,179 3,726 7,788 17.1% 17.7% 24.7% 19.6% 12.6% 24.1% 0.50 0.57 0.85 0.82 0.59 1.22 15.19 26.64 42.94 49.99 49.25 46.75 10.03 13.42 23.66 31.51 30.00 34.00 13.82 24.83 41.63 32.44 46.00 39.85 29 45 49 60 82 37 19 23 27 38 50 27 0.20 0.23 0.25 0.31 0.36 0.44 1.80 2.04 2.27 2.31 2.55 2.91 46,500 49,200 46,400 50,900 90,000 90,000 2001 FISCAL YEAR-END STOCK PRICE HISTORY HIGH/LOW/CLOSE 50 45 40 35 30 25 20 15 10 5 0 Debt ratio: 12.5% Return on equity: 45.3% Cash ($ mil.): 1,036 Current ratio: 1.35 Long-term debt ($ mil.): 2,609 No. of shares (mil.): 6,277 Dividends Yield: 1.1% Payout: 36.1% Market value ($ mil.): 250,138 11175 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 HOOVER’S HANDBOOK OF AMERICAN BUSINESS 2003 1105
