Ouch!

The latest cover of Fortune:

2008 WAS THE WORST YEAR EVER FOR AMERICA’S 500 LARGEST CORPORATIONS –Last year was the worst economic performance in the 55-year history of the FORTUNE 500 list of America’s biggest 500 companies. Earnings dropped 84.7% from the previous year, from $645 billion to $98.9 billion, marking the largest one-year decline ever. (A larger percentage drop in 1992 was attributable in large part to an accounting-law change). For every dollar in profits the 500 garnered in 2006, its members made 13¢ in 2008.