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For the Media

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'Fortune' Editors Shocked By Growing Gulf Between the Rich and the Rest

America's top corporations are getting so rich so fast, and sharing so little of it, that even editors at Fortune Magazine and its famed Fortune 500 list are watching with dropped jaws.

"We've rarely seen such a stark gulf between the fortunes of the 500 and those of ordinary Americans," the editors said in announcing that corporate profits soared by 81 percent in 2010.

"All told, the Fortune 500 generated nearly $10.8 trillion in total revenues last year, up 10.5 percent," they said. "But guess who didn't benefit much from this giant wave of cash? Millions of U.S. workers stuck mired in a stagnant job market."

Which company is richest of all? Exxon, which reported more than $30 billion in profit in 2010.

That's not even Exxon's record. That was $40 billion back in 2008, the last time gas prices soared. With gas more than $4 a gallon now, they're well on their way to breaking that record this year: Their first-quarter profit was $10.7 billion.

And yet, last week House Republicans unanimously voted down a Democratic proposal to end subsidies for Exxon and its oil company friends.