Fortune 500

Courtesy: General Motors

6. General Motors
Rank: 6 (Previous rank: 4)
Revenues ($ millions): 148,979.0
CEO: Frederick Henderson
Address: 300 Renaissance Center
Detroit, MI 48265

More from CNNMoney.com: • Fortune 500 Companies Still Hiring -- Even Now! • Fortune 500: The Biggest Losers • Fortune 500: The Biggest Winners See the full 2009 Fortune 500 List Here

It will be interesting to see where GM ranks on this list next year. Will it finagle enough concessions from unions and enough bailout money from the government to continue as a leading carmaker? Or will there be a Chapter 11 filing, resulting in GE being picked apart by creditors and re-formed into a new GM with fewer brands and skimpier sales?

AP Photo/Michael Conroy

7. Ford Motor
Rank: 7 (Previous rank: 7)
Revenues ($ millions): 146,277.0
CEO: Alan R. Mulally
Address: 1 American Rd.
Dearborn, MI 48126

While GM fights for its life, Ford wants to be seen as a survivor. Ford has extracted breakthrough concessions from bondholders as well as the United Auto Workers union. (Bondholder concessions alone will save Ford some $600 million a year.)

And while it too is being battered by the recession, Ford has been adamant about not taking federal bailout money -- a stance that seems to be a winner with consumers. Ford gained market share for the fourth consecutive month in January, the first time that's happened in 14 years.

Courtesy: AT&T

8. AT&T
Rank: 8 (Previous rank: 10)
Revenues ($ millions): 124,028.0
CEO: Randall L. Stephenson
Address: 208 S. Akard St.
Dallas, TX 75202

You'd think that as the exclusive wireless carrier for Apple's iPhone, AT&T would be making big money on the hyper-popular device. You'd be wrong.

AT&T is kicking back a huge share of its iPhone sales to Apple -- a subsidy that cost the carrier $450 million in the fourth quarter of 2008 alone. AT&T is betting that the payoff will come when all those iPhone customers start racking up heavy Internet usage charges year after year after year.

Courtesy: Hewlett-Packard

9. Hewlett-Packard
Rank: 9 (Previous rank: 14)
Revenues ($ millions): 118,364.0
CEO: Mark V. Hurd
Address: 3000 Hanover St.
Palo Alto, CA 94304

Yes, HP's leap into the top 10 was aided by its funky fiscal year. HP closes its books in October, which means its 2008 revenues were shielded from the economic disaster that was last November and December.

Even so, HP's performance was impressive. Revenue and earnings rose 13% and 15% respectively, buoyed by strong demand for laptops (up 21%) and services (10%). And that latter figure doesn't even include the impact from newly acquired EDS.

Courtesy: Valero Energy

10. Valero Energy
Rank: 10 (Previous rank: 16)
Revenues ($ millions): 118,298.0
CEO: William R. Klesse
Address: 1 Valero Way
San Antonio, TX 78249

Remember a couple years ago, when experts blamed high gasoline prices on the fact that the U.S. hadn't built a new oil refinery since 1976? Back then Valero was practically minting money, earning upwards of $20 for every barrel of gasoline it refined.

Well, by late last year, margins had cratered, and the new concern was whether a refining glut would force some plants to close. In the fourth quarter, Valero was forced to take a $4 billion writedown on refineries it bought during flusher times, and its revenues fell 35%. So don't be surprised if Valero's stay in the top 10 is a brief one.

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