Big '07 Loss Drops GM In Fortune 500

Implications: Massive losses, dismal sales and now another blow for GM, it drops to number four in the Forbes 500.

Analysis: It was bound to happen, General Motors Corp., once the granddaddy of the American corporate world, is gradually becoming a less-influential player on the nation's business chessboard.

The recent report that GM has dropped one place, to number 4 on the Fortune 500 list of U.S. companies with the largest revenues.

Last year was No. 3 behind Wal-Mart Stores Inc. and Exxon-Mobil Corp. But thanks to a loss of $37.8 billion last year-dropping its revenues to $182.3 billion, GM slips behind oil giant Chevron Texaco Corp., which recorded $210.8 billion in revenue in 2007.

In fact, GM was bracketed between on the Fortune 500 by oil companies-along with Chevron Texaco at No. 3, Conoco Philips retained its No. 5 position.

Ford Motor Co. retained a top 10 spot on the list, finishing at No. 7. Names such as Radio Shack Corp., Lucent Technologies and H&R Block Inc. were ousted from the prominent group.