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General Motors has fallen once again on the Fortune 500 list of America's top-grossers. The General had once stood strong atop the rankings, having fallen from the top spot in 2001 at which time Wal-Mart took over. For the last few years, Exxon-Mobil and the big box retailer have battled for the first two positions on the list with GM claiming third place. This year, soaring demands for energy have allowed Chevron to nudge past GM on its way to a third place finish. General Motors, at number four on the list, is bracketed by another energy company, ConocoPhillips, at number five. Ford finds itself sitting at number seven, the same as last year.

Fortune's 500 list is based on company revenue, not profit. If profit were the main criteria, GM and Ford wouldn't be making any appearances on the list at all. Exxon Mobil would easily claim the top spot as the most profitable company around with GM posting nearly as much in losses over the same period of time.

[Source: Fortune]