Four years ago, with ExxonMobil flat on its back at $40 per share, the Index compilers at Dow Jones decided that, after 92 years, the time was right to say goodbye. Salesforce was chosen to replace Exxon in the Dow Jones Industrial Average, and why not? Salesforce was an entirely reputable New Economy stock, and, after all, anything involving fossil fuels was a guaranteed loser. In the midst of this drama, we wrote “Exxon Mobil and the Dow… ‘A Blessing in Disguise’.” Now, with Walgreens getting the boot (February 26), the time is right to resurrect and re-work that earlier piece.
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