Oh, how Supervalu tried its darndest to stage a turnaround. The perennially struggling grocery chain first cut prices to attract shoppers. When that didn't work, it fired CEO Craig Herkert and hired a new one who blared in an email to workers, "We will prove the naysayers wrong." Supervalu put itself up for sale. When no one wanted it, Wall Street left it to rot.
Shares plunged 68% during the year. But in an encore befitting of the Street's odd relationship with deeply indebted companies (of which Supervalu is one, after its misguided $12 billion acquisition of Albertsons in 2006), there's talk anew of a turnaround. Supervalu shares are up 110% so far this year.
Wal-Mart retook the top spot, Berkshire Hathaway made the top five, and Apple grew enormously.
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