Take a look at options_for_select. It builds the html for what you want to display.
options_for_select([["Dollar", "$"], ["Kroner", "DKK"]])
<option value="$">Dollar</option>\n<option value="DKK">Kroner</option>
options_for_select([ "VISA", "MasterCard" ], "MasterCard")
<option>VISA</option>\n<option selected="selected">MasterCard</option>
options_for_select({ "Basic" => "$20", "Plus" => "$40" }, "$40")
<option value="$20">Basic</option>\n<option value="$40" selected="selected">Plus</option>
options_for_select([ "VISA", "MasterCard", "Discover" ], ["VISA", "Discover"])
<option selected="selected">VISA</option>\n<option>MasterCard</option>\n<option selected="selected">Discover</option>
You can just pass the result of this function to select_tag like so:
<%= select_tag 'company_id', options_for_select(@current_user.active_companies.map { |c| [c.name, c.id] }) %>