CHAPEL HILL, N.C. — Exxon Mobil’s fall from grace has been stunning.
has been part of this bluest of blue-chip averages for 92 years. It joined in October 1928, when it was called Standard Oil of New Jersey. For decades the company was one of the 10 most valuable publicly traded companies, and for six straight years—from 2006 through 2011—it was at the top of the market-cap rankings.
The primary reason S&P Dow Jones Indices gave for removing Exxon Mobil is that the index’s…