Economic Woes Equal Big Bucks for Local Companies

By JONIDA SHEGANI

Updated 4:45 PM EST, Thu, Jun 25, 2009

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Recently big companies like AIG, Chrysler and, more recently, Six Flags failed or filed for bankruptcy due to the bad economy.

But, that wasn’t the case for some of the biggest companies in the Philadelphia region. As our economy went down the drain, these companies were recession proof.

However, even these 100 local companies lost money last year, some of the biggest market caps losing $108 billion in market value, according to the Inquirer’s top 100 local companies.

To make the list last year, companies had to have a market value of at least $177 million to make the cut. But this year, No. 100, which was Broomall’s Alliance Bancorp Inc. of Pennsylvania made the cut with just $58 million, according to the Inqy.

The top-12 companies that made the list gained more than 172 percent in market value, the Inquirer reported.

There were many newcomers to this year's list including, Gourmet Products, Planet Co., and Destination Maternity, according to the Inquirer.

Without any further ado here are the region’s top three money-makers:

Comcast Corp.

Comcast was found in Philadelphia in 1963. CEO Brian Roberts was named one of the top-paid CEOs in the region, said the Inquirer. The company went down 41 percent from last year but it has a market cap of about $39 billion.

DuPont Co.

Wilmington-based DuPont was founded in 1802. CEO Ellen Kullman leads the company that lost 39 percent from last year but still continues to be strong by focusing on agriculture, bioscience, safety and protection, and polymers. Its market cap value was estimated at $5 billion.

Campbell Soup Co.

Campbell Soup was founded in Camden in 1869. The President and CEO Douglas Conant led the company through losses of 22 percent from last year. But, despite the decrease, the company will spend $90 million to expand its headquarters in Camden, according to the Inquirer. Campbell has a market cap of around $9 billion.