MGM MIRAGE Makes Forbes List
LAS VEGAS, NV, January 9, 2008. Forbes magazine has named MGM MIRAGE one of the "Best Managed Companies in America," as part of its annual Forbes Platinum 400 list of top-performing large corporations. MGM MIRAGE was one of nine companies recognized in the "Hotels, Restaurants and Leisure" category. The company also made the list in 2005.
"The commitment to outstanding performance from each of our employees made this recognition possible," said Terry Lanni, Chairman and CEO of MGM MIRAGE.
The Platinum 400 list includes both American and foreign corporations that have significant presence in the U.S. Contending companies came from a pool of nearly 1,100 corporations that have at least $1 billion in revenue in the most recent fiscal year, a stock price of at least $5 per share and positive equity.
To identify leaders from each industry category, Forbes ranked companies within their industry by many financial metrics, including growth in sales and earnings, leverage, stock market returns and earnings forecasts. From these ranks, each company received a composite score.
Next, a financial analytics firm determined an overall score on each company for accounting and governance practices, financial condition and earnings quality. Finally, Forbes' editors and writers examined the top-ranked companies in each industry and considered factors such as management ability, innovation and leadership.
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