Fortune 500 rank: 286
2007 loss: $896.4 million
The student loan giant -- best known as Sallie Mae -- got a failing grade last year after Congress got tough on the profits that Sallie makes from federally-guaranteed education
loans. The company added about $800 million to its loan-loss provisions from 2006 to reflect the reduction in the rates the government allows Sallie to charge. It lost another $1.4
billion on its portfolio, which was socked by falling interest rates and volatility in the credit markets.
All this led private equity firm J.C. Flowers, which headed a consortium that agreed to buy Sallie in April 2007 for a nearly 50% premium, to eventually walk away from the deal.More galleries