Gm Bumps Ge From No. 1 Spot

General Motors bumped General Electric from the top of Forbes’ annual list of the 50 most powerful U.S. companies.

The magazine said Monday that GM was the strongest last year across the board in profits, sales, assets and market value.

GE, No. 1 on the list for four straight years, fell to second place for 1994, with a drop in net profits from $5.2 billion to $4.7 billion, Forbes said.

Exxon Corp. moved up one notch to No. 3.

The Top 10 on the Super 50 list: General Motors, General Electric, Ford Motor, AT&T, IBM, Philip Morris, Citicorp, American International Group, Wal-Mart.