Fortune 40 Best Stocks To Retire On Full

http://www.oldschoolvalue.com 2009 Fortune 40 Best Stock to Retire On

No.

Ticker

Company Name

1

ABT

Abbott Laboratories

2

KO

Coca-Cola Co

3

GIS

4

JNJ

5

PG

6

WMI

7

MCD

8

FPL

9

ACN

10

CB

Industry

DCF*

Graham Value

$45.28

$59.59

$54.16

$50.53

$51.33

$54.33

Boring company. Positive FCF. Converts approx 9c into FCF for every $1 of sales. Stable margins and returns.

$59.73

$65.66

$66.98

Comment from my 2008 list increase in debt-equity, good margins, good FCF

$58.96

$70.16

$98.37

Comment from my 2008 list good FCF, steady margins, super CROIC, decrease debt, outstanding

$54.65

$68.75

$102.49

Buffett style. Boring and predictable, big moat, consistent FCF

$27.71

$38.33

$67.23

Generates cash, earnings with consistent and high returns. Market leader, still growing consistently.

$57.08

68..75

$105.43

Inconsistent FCF due to very high capex. Increase in debt to equity. Margins slightly improving

$57.41

$55.48

$116.16

Comment from my 2008 list great FCF, CROIC, margins, returns

$34.04

$35.00

$61.09

$41.57

NA

NA

Abbott Laboratories is engaged in the discovery, development, manufacture, and sale of a range of health care products. It operates through four business segments: Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Vascular Products. The Comment from my 2008 list Pharmaceutical Products segment�s products include a line of adult and pediatric cash cow, increased profits and cash in 2008, great pharmaceuticals manufactured, marketed and sold worldwide. The Diagnostic Products CROIC, FCF and ROE segment�s products include diagnostic systems and tests manufactured, marketed and sold worldwide to blood banks, hospitals, commercial laboratories. The Nutritional Products segment�s products include a line of pediatric and adult nutritional products manufactured, The Coca-Cola Company is a manufacturer, distributor and marketer of nonalcoholic beverage concentrates and syrups in the world. Finished beverage products bearing its trademarks are sold in more than 200 countries. The Company markets nonalcoholic Comment from my 2008 list sparkling brands, which include Diet Coke, Fanta and Sprite. The Company manufactures excellent cash flow, margins, CROIC, strong and beverage concentrates and syrups, which it sells to bottling and canning operations, consistent all round fountain wholesalers and some fountain retailers, as well as finished beverages, which it

sells primarily to distributors. The Company owns or licenses approximately 500 brands, including diet and light beverages, waters, enhanced waters, juices and juice drinks, teas, General Mills, Inc. (General Mills) is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the foodservice and commercial baking industries. General Mills manufactures its products in 15 countries and market them in more than 100 countries. Its General Mills Inc joint ventures manufacture and market products in more than 130 countries and republics worldwide. The Company�s businesses are organized into three operating segments: U.S. Retail; International, and Bakeries and Foodservice. During the fiscal year ended May 31, 2009 (fiscal 2009), Wal-Mart Stores, Inc. and its affiliates (Wal-Mart) accounted for 21 % of Johnson & Johnson is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. Johnson & Johnson has more than 250 operating companies. The Company operates in three segments. The Consumer segment includes a range of products used in the baby care, skin care, oral care, wound care and women�s Johnson & Johnson healthcare fields, as well as nutritional and over-the-counter pharmaceutical products. The Pharmaceutical segment includes products in the therapeutic areas, such as anti-infective, antipsychotic, cardiovascular, contraceptive, dermatology, gastrointestinal, hematology, immunology, neurology, oncology, pain management, urology and virology. The Medical The Procter & Gamble Company is focused on providing branded consumer goods. The Company�s products are sold in over 180 countries around the world primarily through mass merchandisers, grocery stores, membership club stores, drug stores and in highfrequency stores, the neighborhood stores, which serve consumers in developing markets. Procter & Gamble Co During the fiscal year ended June 30, 2008 (fiscal 2008), one product category accounted for 10% or more of consolidated net sales. The laundry category constituted approximately 16% of net sales during fiscal 2008. In fiscal 2008, the Company was organized into three Global Business Units: Beauty; Health and Well-Being, and Household Care. The Company had six Waste Management, Inc. (WMI) is a provider of integrated waste services in North America. Through its subsidiaries the Company provides collection, transfer, recycling, disposal and waste-to-energy services. WMI�s customers include commercial, industrial, municipal and residential customers, other waste management companies, electric utilities and Waste Management Inc governmental entities. The Company operates in six operating groups, of which four are organized by geographic area and two are organized by function. The geographic groups include WMI�s Eastern, Midwest, Southern and Western Groups, and the two functional groups are its Wheelabrator Group and WM Recycle America (WMRA) Group. The Company McDonald�s Corporation franchises and operates McDonald�s restaurants in the food service industry. These restaurants serve a varied, limited, value-priced menu in more than 100 countries globally. The restaurants are operated either by the Company or by franchisees, including franchisees under franchise arrangements, and foreign-affiliated McDonald's Corp markets and developmental licensees under license agreements. During the year ended December 31, 2007, the Company sold its businesses in Brazil, Argentina, Mexico, Puerto Rico, Venezuela and 13 other countries in Latin America and the Caribbean, which totaled 1,571 restaurants, to a developmental licensee organization. The Company and its FPL Group, Inc. (FPL Group) is a provider of electricity-related services. The Company has two principal operating subsidiaries, Florida Power & Light Company (FPL) and NextEra Energy Resources. FPL is a rate-regulated utility engaged primarily in the generation, transmission, distribution and sale of electric energy. NextEra Energy Resources is the FPL Group Inc Company�s competitive energy subsidiary, which produces the majority of its electricity from clean and renewable fuels. FPL Group Capital Inc. (FPL Group Capital), a wholly owned subsidiary of FPL Group, holds the capital stock of, or has equity interests in, FPL Group's operating subsidiaries, other than FPL, and provides funding for those subsidiaries, including Accenture Limited (Accenture) is a management consulting, technology services and outsourcing organization. The Company�s business is structured around five operating groups, which together comprise 17 industry groups serving clients. The operating groups of the Company are Communications & High Tech, Financial Services, Products, Public Service Accenture Ltd and Resources.

Chubb Corp

Current Price

Remarks

The Chubb Corporation (Chubb) is a holding company for a family of property and casualty insurance companies known as the Chubb Group of Insurance Companies (the P&C Group). The P&C Group is divided into three business units: Chubb Commercial Insurance, Chubb Specialty Insurance and Chubb Personal Insurance. Chubb Commercial Insurance offers a Comment from my 2008 list range of commercial insurance products, including coverage for multiple peril, casualty, Outside circle of competence workers� compensation, and property and marine. Chubb Specialty Insurance offers a variety of specialized professional liability products for privately and publicly owned companies, financial institutions, professional firms and healthcare organizations. Chubb

11

CSCO

12

MSFT

13

WAG

14

GILD

15

MA

16

TMO

17

BHI

18

BDX

19

BMY

20

CSL

Cisco Systems, Inc.designs, manufactures and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use. The Company provides a line of products for transporting data, voice, and video within buildings, across campuses, Cisco Systems Inc and around the world. Its products are designed to transform how people connect, communicate and collaborate. Cisco Systems, Inc.�s products, which include primarily routers, switches, and products that the Company refers to as its technologies, are installed at enterprises, public institutions, telecommunications companies, commercial businesses Microsoft Corporation develops, manufactures, licenses and supports a range of software products for computing devices. The Company's software products include operating systems for servers, personal computers and intelligent devices, server applications for distributed computing environments, information worker productivity applications, business Microsoft Corp solution applications, high-performance computing applications and software development tools and video games. It provides consulting and product support services, and trains and certifies computer system integrators and developers. Microsoft Corporation sells the Xbox 360 video game console and games, the Zune digital music and entertainment device, PC Walgreen Company (Walgreens) is principally a retail drugstore chain that sells prescription and non-prescription drugs, and general merchandise. General merchandise includes, among other things, beauty care, personal care, household items, candy, photofinishing, greeting cards, convenience foods and seasonal items. Customers can have prescriptions Walgreen Co filled at the drugstore counter, as well as through the mail, by telephone and via the Internet. As of August 31, 2008, Walgreens operated 6,934 locations in 49 states, the District of Columbia, Guam and Puerto Rico. Total locations do not include 217 convenient care clinics operated by Take Care Health Systems, Inc. (formerly known as I-Trax, Inc.), a Gilead Sciences, Inc. (Gilead) is a biopharmaceutical company that discovers, develops, and commercializes therapeutics in areas of unmet medical need. The Company has United States and international commercial sales operations, with marketing subsidiaries in Australia, Austria, Canada, France, Germany, Greece, Ireland, Italy, New Zealand, Portugal, Gilead Sciences Inc Spain, Switzerland, Turkey, United Kingdom, and United States. Its commercial team promotes Truvada, Viread, Emtriva, Hepsera, AmBisome, Letairis, and Flolan through direct field contact with physicians, hospitals, clinics, and other healthcare providers. Gilead�s corporate partner, Astellas Pharma, Inc. (Astellas), promotes and sells AmBisome in the MasterCard Incorporated (MasterCard) is a global payment solutions company that provides a variety of services in support of the credit, debit and related payment programs of over 24,000 financial institutions and other entities that are its customers. Through its threetiered business model as franchisor, processor and advisor, the Company develops and MasterCard Inc markets payment solutions, process payment transactions, and provides support services to its customers and, depending upon the service, to merchants and other clients. It manages a family of payment card brands, including MasterCard, MasterCard Electronic, Maestro and Cirrus, which it license to its customers. The Company conducts its business principally Thermo Fisher Scientific Inc. (Thermo Fisher), incorporated in 1956, is engaged in serving science. It provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. The Company Thermo Fisher Scientific operates through two segments: analytical technologies and laboratory products and Inc services. Analytical technologies segment includes pharmaceutical, biotechnology, academic, government and other research and industrial markets. Laboratory products and services segment offers combination of products and services that allows its customers to engage in their core business functions of research, development, manufacturing, clinical Baker Hughes Incorporated (Baker Hughes) is engaged in the oilfield services industry. The Company is a supplier of wellbore related products and technology services, including products and services for drilling, formation evaluation, completion and production and reservoir technology and consulting to the worldwide oil and natural gas industry. The Baker Hughes Inc Company operates through two segments: the Drilling and Evaluation segment, and the Completion and Production segment. In April 2008, the Company acquired two reservoir consulting firms, Gaffney, Cline & Associates (GCA) and GeoMechanics International (GMI).

Becton Dickinson & Co

Becton, Dickinson and Company (BD) is a medical technology company engaged in the manufacture and sale of a range of medical supplies, devices, laboratory equipment and diagnostic products used by healthcare institutions, life science researchers, clinical laboratories, industry and the general public. The segments in which the Company operates include BD Medical, BD Diagnostics and BD Biosciences. On May 12, 2008, the Company acquired Cytopeia Inc.

Comment from my 2008 list Super numbers all round

$19.81

$30.13

$37.21

Comment from my 2008 list good margins, good profits

$24.12

$32.17

$43.50

Comment from my 2008 list below average FCF growth in FCF but margins are rock solid

$29.99

$24.42

$52.74

Good margins and returns but inconsistent. FCF and earnings are also inconsistent

$45.82

$50.42

$60.85

Outside circle of competence

$172.37

NA

NA

Marings, growth and return metrics are good. FCF growth has been very strong but wonder whether it can be sustained. Increased margins in FY 2008. Sales becoming flat.

$39.98

$39.76

$40.75

Not a steady generator of FCF. Too many ups and downs for a large cap, CROIC is paltry, great earnings growth but can't convert it to cash

$37.44

$46.65

$130.00

Has consistently produced plenty of FCF but FCF growth has been minimal, very good CROIC of 15%, steady growth in shareholders equity/book value, stable rising margins, debt to equity is consistently dropping, sales has been increasing.

$70.83

$82.04

$138.00

$19.86

$17.11

$29.94

$24.05

$35.27

$70.00

Bristol-Myers Squibb Company (BMS) is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of pharmaceutical and nutritional products. FCF is positive most of the time but inconsistent as The Company had two segments: Pharmaceuticals and Nutritionals. The Pharmaceuticals in not able to raise it steadily with some big losses segment is made up of the global pharmaceutical and international consumer medicines in between, average return metrics, normalized Bristol-Myers Squibb Co business. The Nutritionals segment consists of Mead Johnson Nutritionals (Mead Johnson), earnings is also low and inconsistent, margins and primarily an infant formula and children�s nutritionals business. In June 2008, BMS acquired sales unstable. I wouldn't consider as a retirement Kosan Biosciences, Inc., a developer of oncology products. In August 2008, the Company stock. completed the divestiture of its ConvaTec business to Cidron Healthcare Limited, an affiliate Carlisle Companies Incorporated (Carlisle) is a holding company for Carlisle Corporation, and its wholly owned subsidiaries. Carlisle is a diversified manufacturing company, which manufacture and distribute a range of products. On January 25, 2008, the Company acquired 100% of the equity of Dinex International, Inc. (Dinex), a supplier of foodservice Comment from my 2008 list Carlisle Companies Inc low FCF, CROIC , consistent margins, products to the healthcare and other institutional industries. On April 28, 2008, the Company acquired 100% of Carlyle Incorporated (Carlyle), a provider of aerospace and network interconnection solutions.

21

NE

Noble Corp

22

RBC

REGAL-BELOIT CORP

23

VMI

Valmont Industries Inc

24

GWW

WW Grainger Inc

25

AAON

Aaon Inc

26

EXPO

27

LINC

28

MMSI

29

NEOG

30

NTRI

Noble Corporation (Noble) is an offshore drilling contractor for the oil and gas industry. The Company performs contract drilling services with its fleet of 63 mobile offshore drilling units located worldwide. This fleet consists of 13 semisubmersibles, four dynamically positioned drillships, 43 jackups and three submersibles. The fleet count includes five units under construction, including one F&G JU-2000E enhanced jackup, one dynamically positioned ultra-deepwater, harsh environment Globetrotter-class drillship, and three deepwater dynamically positioned semisubmersibles. The Company have secured customer contracts for the one jackup and three semisubmersibles under construction. Regal Beloit Corporation is a global manufacturer of commercial and industrial electric motors, heating, ventilation and air conditioning (HVAC) electric motors, electric generators and controls, and mechanical motion control products. The Company manufactures and markets electrical and mechanical products. Its electrical products include HVAC motors, a line of alternating current (AC) and direct current (DC) commercial and industrial electric motors, electric generators and controls, capacitors, and electrical connecting devices. Its mechanical products include gears and gearboxes, marine transmissions, high-performance automotive transmissions and ring and pinions, and manual valve actuators. On September Valmont Industries, Inc. is a global producer of fabricated metal products and a producer of metal and concrete pole and tower structures in the engineered support structures and utilities support structures businesses, and are a global producer of mechanized irrigation systems in the irrigation business. The Company also provide metal coating services, including galvanizing, painting and anodizing in the coatings business. The pole and tower structures support outdoor lighting and traffic control fixtures, electrical transmission lines and related power distribution equipment, wireless communications equipment and highway signs. The mechanized irrigation equipment delivers water, chemical fertilizers and W.W. Grainger, Inc. (Grainger) distributes facilities maintenance products, and provides services and related information used by businesses and institutions primarily in the United States, Canada and Mexico to keep their facilities and equipment running. Grainger is the supplier of facilities maintenance and other related products in North America. Its operations are managed in three segments: Grainger Branch-based, Acklands � Grainger Branch-based (Acklands � Grainger), and Lab Safety Supply, Inc. (Lab Safety). Grainger Branch-based is an aggregation of the Grainger Industrial Supply (Industrial Supply), Grainger, S.A. de C.V. (Mexico), Grainger Caribe Inc. (Puerto Rico), Grainger China LLC AAON, Inc. is engaged in the manufacturing and selling of air-conditioning and heating equipment. The products of the Company consists of rooftop units, chillers, air-handling units, make-up air units, heat recovery units, condensing units, coils and boilers. The Company�s subsidiaries include AAON Coil Products, Inc., AAON Canada, Inc. and AAON Properties, Inc.

An offshore driller that is FCF positive is rare. Marings going up at rapid pace. Lots of investing to growth. Debt reduced.

$30.68

$27.61

$90.40

Comment from my 2008 list average numbers and wild FCF, strong earnings growth and cash from ops growth

$45.43

$32.49

$87.00

Average level return metrics but top line has been good. Bottom line margins increasing steadily. Management not effective in investing its cash, CROIC fluctuates wildly.

$70.58

NA

$116.34

Consistently increasing margins. FCF has been positive but flat for past 6 years. CROIC is good at 12%. Shareholders equity dropping over past 4 years. Large increase in debt to equity.

$82.99

$63.22

$180.19

No FCF growth. CROIC is negative. Cant convert sales into FCF. Earnings and earnings growth is good but can't take it to the bottom line.

$20.29

$13.00

$42.87

$28.41

$25.45

$48.06

$19.33

$10.89

$24.98

$17.59

$10.03

$23.74

$29.82

NA

$27.24

$14.94

$19.01

NA

Exponent, Inc. (Exponent) is a science and engineering consulting firm that provides solutions to complex problems. As of January 2, 2009, the Company operated 21 practices and centers, including Biomechanics, Buildings & Structures, Civil Engineering, Construction Increasing margins. Great FCF growth and CROIC. Consulting, Ecological & Biological Sciences, Electrical & Semiconductors, Engineering Exponent Inc Management Consulting, Environmental & Earth Sciences, Health Sciences, Human Factors, Looks to be a good company at a fair value. Industrial Structures, Mechanical Engineering & Materials Science, Statistical & Data Sciences, Technology Development, Thermal Sciences, Vehicle Analysis and Visual Communications. Exponent�s service offerings are provided on a project-by-project basis. Lincoln Educational Services Corporation is a provider of career-oriented post-secondary education. The Company offers high school graduates and working adults degree and diploma programs in five areas of study: automotive technology, health sciences, skilled Short history. Too inconsistent. Top line growing Lincoln Educational trades, business and information technology, and hospitality services. During the year ended quickly but can’t preserve the cash. Growth startup Services Corp December 31, 2008, the Company�s automotive technology program, health science company. program, skilled trades program, business and information technology program, and hospitality services program accounted for approximately 35%, 32%, 14%, 9%, and 10%, respectively, of its average enrollment. On December 1, 2008, the Company acquired the Merit Medical Systems, Inc produces single-use medical products. The products are designed to enable physicians and other health care professionals to perform interventional and diagnostic procedures safely and effectively. During the year ended December 31, 2008, Another growth orientated company. Top line Merit Medical Systems the Company�s United States domestic sales force made approximately 41% of its sales growth much faster than bottom line growth. FCF Inc directly to United States hospitals and approximately 14% of sales through other channels and CROIC unimpressive. Returns are average. such as United States customs packagers and distributors. Original equipment manufacturers (OEM), companies accounted for approximately 17% of its 2008, sales. Approximately 32% of its sales in 2008, were made in international markets (of which OEM Neogen Corporation (Neogen), together with its subsidiaries, develops, manufactures, and markets a line of products dedicated to food and animal safety. The Company operates in two primary business areas: the food safety segment and the animal safety segment. The Pure growth company. FCF inconsistent but CROIC Company�s food safety segment consists primarily of diagnostic test kits and Neogen Corp complementary products marketed by sales personnel in the United States, Canada, the is good. United Kingdom and other parts of Europe and by distributors elsewhere to food producers and processors to detect dangerous and/or unintended substances in human food and animal feed, such as foodborne pathogens, spoilage organisms, natural toxins, food NutriSystem, Inc. is a provider of a weight management system based on a portioncontrolled, prepared meal program. The Company provides a weight management program, NTRI growth has been huge in its short history but consisting primarily of a pre-packaged food program and counseling. The Company�s growth seems to have caught up with them even customers purchase monthly food packages containing a 28-day supply of breakfasts, NutriSystem Inc before the drop in the markets. lunches, dinners and desserts, which they supplement with fresh dairy, fruit, salad, vegetables and low-glycemic carbohydrate items. Most of the Company�s customers order Sales, margins, returns, book value all declining. on an auto-delivery basis (Auto-Delivery), in which it sends a month�s food supply on an ongoing basis until notified by the customer to stop the shipments. The Company�s

31

SYKE

32

TSRA

33

BP

34

DEO

35

PBR

36

PHG

37

POT

38

TEVA

39

TOT

40

UL

Sykes Enterprises, Incorporated (SYKES) is a provider of outsourced customer contact management solutions and services in the business process outsourcing (BPO) arena. The Company provides an array of customer contact management solutions to a range of clients. It serves its clients through two geographic operating regions: the Americas (United States, Inconsistent margins and FCF. Increasing book Sykes Enterprises Inc Canada, Latin America and Asia Pacific) and Europe, Middle East and Africa (EMEA). The value. Decreasing debt. Company�s Americas and EMEA groups primarily provide customer contact management services (with an emphasis on inbound technical support and customer service), which includes customer assistance, healthcare and roadside assistance, technical support and Tessera Technologies, Inc. (Tessera) develops and delivers miniaturization solutions that Kept going up from my post on the 2008 list. transform wireless, computing and consumer electronic products. Its micro-electronics Absolutely crazy numbers but equally crazy solutions enable smaller electronic devices and include semiconductor packaging Tessera Technologies technologies encompassing interconnect and substrates. Its imaging and optics solutions valuation. Other income past 3 years is much too Inc provide camera functionality in electronic products and include image sensor packaging, high and requires investigation. Low quality earnings. Requires growth of 40% to be worth $15. wafer-level optics and wafer-level camera technologies, and image enhancement technologies. Tessera also offers micro-optic lenses, from diffractive and refractive optical Impossible. elements to integrated micro-optical subassemblies. The Company operates in two BP p.l.c. (BP) is an oil company, operating through its subsidiaries. With effect from January 1, 2008, it operated in two business segments: Exploration and Production, and Refining and Comment from my 2008 list Marketing. A separate business, Alternative Energy, reported in other businesses and BP ADR Each corporate, handles its low-carbon businesses. Exploration and Production�s activities Lots of FCF but growth is limited. Cyclical and Representing Six Ord include oil and natural gas exploration, development and production (upstream activities), margins can never be stable due to commodity Shs prices. Dividend stock only at 7% yield. together with related pipeline, transportation and processing activities (midstream activities), as well as the marketing and trading of natural gas (including liquefied natural gas), power and natural gas liquids. The activities of Refining and Marketing include the Diageo plc (Diageo) is engaged in the drinks business with a collection of international brands. Diageo is a participant in the branded beverage alcohol industry and operates on an international scale. Its operations include producing, distilling, brewing, bottling, packaging, Comment from my 2008 list Diageo ADR Reptg 4 low FCF, great CROIC, improving sales but debt to distributing, developing and marketing a range of brands in approximately 180 markets Ord Shs worldwide. It markets a range of beverage alcohol brands, including spirits and beer brands. equity far too high, fairy stable margins over recent 3 years It produces and distributes a collection of branded premium spirits, beer and wine. It produces and distributes a range of premium brands, including Smirnoff vodka, Johnnie Walker Scotch whiskies, Captain Morgan rum, Baileys Original Irish Cream liqueur, JeB Petroleo Brasileiro SA-Petrobras is an integrated oil and gas company. During the year ended December 31, 2008, the Company�s average domestic daily hydrocarbons production was 2,176 thousand barrels of oil equivalent per day (mboe/d). Approximately 84% of its Capital intensive. Losing money. Huge increase in Petroleo Brasileiro ADR capex. Need to look at why. Downtrending margins. proved reserves are in fields in the offshore Campos Basin. The Company operates the Reptg 2 Ord Shs refining capacity in Brazil. The Company�s domestic refining capacity is 1,942 thousand FCF not enough to pay debt - evident in increase of barrels per day (mbbl/d). Its domestic refining production is 1,787 mbbl/d and sales of oil long term debt products to domestic markets is 1,748 mbbl/d. The Company is also involved in the production of petrochemicals and fertilizers. The Company distributes oil products through Koninklijke Philips Electronics N.V. (Royal Philips Electronics) is the parent company of the Philips Group (Philips). As of January 1, 2008, Philips� activities are organized on a sector basis, with each operating sector Healthcare, Consumer Lifestyle and Lighting being Koninklijke Philips responsible for the management of its businesses worldwide. The Company aims, through Comment from my 2008 list Electronics ADR the Innovation & Emerging Businesses sector, to invest in projects that are not part of the Terrible FCF and margins. Stay away. operating sectors, but which will lead to growth. The Group Management & Services sector provides the sectors with support through shared service centers. In September 2008, Medialink Worldwide Inc. announced the transfer of its ownership interest in Teletrax to the Potash Corporation of Saskatchewan Inc. is an integrated fertilizer and related industrial and feed products company. The Company�s potash is produced from six mines in Saskatchewan and one mine in New Brunswick. Of these mines, it owns and operates five in Saskatchewan Huge growth in 2008, capex nearly double that of Potash Corp of 2006. Able to convert sales into FCF. Great CROIC and the one in New Brunswick. Of these mines, the Company owns and operate five in Saskatchewan Inc Saskatchewan and one in New Brunswick. The Company�s phosphate operations includes for a commodity. Margins prove it has competitive the manufacture and sale of solid and liquid phosphate fertilizers, animal feed supplements advantage. and industrial acid, which is used in food products and industrial processes. Its nitrogen operations involve the production of nitrogen fertilizers and nitrogen feed and industrial Teva Pharmaceutical Industries Limited (Teva) is a global pharmaceutical company that develops, produces and markets generic drugs covering all treatment categories. The Company has a pharmaceutical business, whose principal products are Copaxone for Huge growth in sales. High fluctuation in margins Teva Depository multiple sclerosis and Azilect for Parkinson�s disease and respiratory products. Teva�s and returns. Big drop is shareholders equity. Good Receipt active pharmaceutical ingredient business provides vertical integration to Teva�s own CROIC, pharmaceutical production and sells to third party manufacturers. The Company�s global operations are conducted in North America, Europe, Latin America, Asia and Israel. Teva has operations in more than 60 countries, as well as 38 finished dosage pharmaceutical TOTAL S.A. (TOTAL), together with its subsidiaries and affiliates, is an integrated international oil and gas company. With operations in more than 130 countries, TOTAL engages in all aspects of the petroleum industry, including Upstream operations (oil and gas Comment from my 2008 list Total Conv Into 1/2 Shs exploration, development and production, liquefied natural gas (LNG)) and Downstream FCF in 2008 exploded. Cant base future predictions ADR operations (refining, marketing and the trading and shipping of crude oil and petroleum on 2008 values. Returns and metrics are very products). It also produces base chemicals (petrochemicals and fertilizers) and specialty consistent. In line with industry competitors chemicals for the industrial and consumer markets. In addition, TOTAL has interests in the coal mining and power generation sectors, as well as a financial interest in Sanofi-Aventis. Unilever PLC is one of the parent companies of the Unilever Group (Unilever), which is a supplier of consumer goods across foods, and home and personal care categories. Unilever Comment from my 2008 list N.V. is the other parent company of Unilever. Unilever manages its brands under four Inconsistent FCF numbers YOY, but last year has Unilever Depository category headings: savoury, dressings and spreads; ice cream and beverages; personal care; been terrible. Not a company that can maintain Receipt and home care. In December 2008, it sold its edible oil business in Cote d�Ivoire together performance in a recession. Numbers vary too with its interests in local oil palm plantations, Palmci and PHCI, to SIFCA and to a 50:50 joint much to take a guess for fair value. venture between two Singapore-based companies, Wilmar International Limited and Olam International Limited. In December 2008, it also acquired the soap business of Cosmivoire,

$19.71

$19.08

NA

$27.07

$9.58

$24.22

$48.33

$69.64

$100.00

$59.09

$60.20

$120.00

$38.96

NA

$80.60

$20.60

$8.57

$27.86

$87.76

$64.09

$176.06

$49.79

NA

$55.75

$53.61

$51.23

$71.22

$24.55

NA

NA