Fortune 500 Companies' Profits Soar, But They're Still Not Hiring

Fortune 500
Fortune 500

The times are booming for America's biggest businesses. This year's Fortune 500, the wealthiest publicly traded companies as ranked by Fortune magazine, earned $820 billion last year, just under 2011's record revenues. But soaring profits aren't translating into jobs.

"These companies are making a lot of money and they're starting to do things after being on the sidelines for the past couple years," Fortune's managing editor Leigh Gallgher told "CBS This Morning." "Now, of course the next question is when are they going to start to hire again."