Nineteen SoCal Companies Made This Year’s Fortune 500

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A tough economy? Yes—but it’s hard to believe today, given Fortune magazine’s just released 2012 Fortune 500 list, which ranks the largest American corporations by revenues and profits. Exxon Mobil, Wal-Mart Store, Chevron, ConocoPhillips, and General Motors—the five companies at the top of their docket—brought in staggering sums in 2011. But as Los Angeles magazine business columnist Mark Lacter points out over at LA Biz Observed, only 19 businesses—that’s  3.8% of all corporations named—made the list. Leading the group of local heavyweights is Disney with $40.9 billion in revenue. What does it mean for Los Angeles that so few of the country’s largest companies are based here? Less money and fewer jobs, for starters—and an even greater need for financial services to work with the public sector and philanthropists to enact systemic improvements for Angelenos. L.A.’s future may depend on it.