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Whirlpool Slips on 2017 Fortune 500 List

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While Whirlpool Corporation’s stock price is inching closer to its 52-week high, its fortunes aren’t as high on the totem pole known as the Fortune 500 as they were just a year ago. However, they’re not alone in the downward trend for Michigan-based corporations on the annual rankings list of the biggest and best in the nation. Seven of Michigan’s 17 Fortune 500 companies are ranked lower this year than last…and the Michigan contingent is down from 18 on the list at this time last year as well.

The Benton Harbor-based appliance giant is ranked 137th this year, down three slots from their 134th position on the 2016 list. They’re certainly not alone in that regard as Ford Motor Company dropped a notch from 9th to 10th, Dow Chemical of Midland fell 6 slots from 56th to 62nd, and Kellogg of Battle Creek tumbled six slots from 207th in the nation to 216th. Also dropping in the rankings were Masco Corporation of Tayor (372nd vs 345th), CMS Energy of Jackson (419th vs 403rd) and Kelly Services based in Troy (490th vs 467th).

The highest ranked Michigan company on the list, as usual, is General Motors which maintained its 8th place ranking on $166.38-billion in revenue. Others based in Michigan staying the same or advancing on the list include Penske Automotive Group at 142nd, Lear Corporation at 151st, Stryker of Kalamazoo at 252nd (up from 287th), DTE Energy at 272nd, Autoliv Inc of Auburn Hills at 283rd, Ally Financial at 286th, BorgWarner Inc. at 305th, SpartanNash at 350th, and Auto-Owners Insurance of Lansing at 398th.

Fortune’s annual composite list only includes domestically-owned or incorporation corporations which is why Chrysler parent FCA US does not appear on the list which was released yesterday by the magazine.

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The annual listing and ranked order stems from the use of revenues that are regularly disclosed to either state regulators or stockholders of the companies involved.

Whirlpool’s $20.72-billion in revenue posted in 2016 leaves them ranked at 137th on the list for 2017. Visteon was the company that ended up dropping completely off the list of 500 this year, as they plummeted to 693rd from their previous year listing at 470th. Fortune says that Visteon’s 41.1-percent decline in revenue was the reason behind the free-fall this year.