As a result, US Airways stock has blasted off. 50 was made by Kmart, the Michigan-based retailer that has a regional distribution hub on Penry Road, just east of Greensboro. Two years ago the company ranked 48th among the Top 50. Last year it climbed to 39th position. This year it placed tied for seventh on the strength of vastly improved earnings and a surging stock price.
Retail is a cutthroat business.
Kmart improved its fortunes by shedding noncore businesses such as Borders Books and Sports Authority. Moving in the opposite direction has been Vanguard Cellular, a Greensboro-based cellular phone company that placed 62nd. It's earnings declined by more than 250 percent in 1997. Vanguard's poor showing could be blamed on an overheated industry for cellular communications. BellSouth, on the other hand, fared better.