With the horrible jobless recovery, Colorado financial coffers are suffering, as are many State citizens in Colorado.
However, I think it would be wise to get an update on how Colorado Big Corps have fared very recently, so we can better assess where Colorado Big Corps stand now financially, as compared with the present financial status of Colorado citizens.
By doing this, I think we can get a better insight on what should constitute a fair sharing of the financial burden to balance the State Budget between Colorado Big Corps and Colorado citizens. And frankly, Big Corps outside of Colorado, including foreign-owned Big Corps, that do business in Colorado, should also be included in this mix of a fair sharing of this very expensive financial burden to balance Colorado's State Budget.
Let me show you below just how Colorado’s 16 largest Corps did as was disclosed in their most recent December 2010 annual report SEC filings . All 16 Corps have December year ends.
Colorado's 16 Largest Publicly-Held Corps Most Recent Annual Pretax Earnings (PTI)
.....................................................PTI.........PTI.........Increase...
Colorado Big Corp........................2010......2009....Amount...%..
..........................................................(millions of dollars)......
Newmont Mining.........................3,997.....2,954......1,043.....35%
DISH Network(1)..........................1,767....1,374.........393.....29%
Liberty Media..............................1,558........621.........937...151%
Western Union.............................1,145.....1,132...........13.......1%
Discovery Communications(2).....1,071.......787........284.....36%
Qwest Communications(3)..............970.......903..........67.......7%
Cimarex Energy(4).........................914........303.........611...202%
Davita(5)........................................819........758..........61.......8%
Molson Coors Brewing....................809........718..........91......13%
Ball Corp.........................................606.......537..........69......13%
Whiting Petroleum..........................541.......(163).......704...432%
Forest Oil(4)...................................348.......143..........205...143%
SM Energy(4)..................................314.........16..........298..1863%
Chipotle Mexican Grill....................289.......204............85.....42%
Janus Capital Group(6)...................245.......107..........138...129%
Emergency Medical Services..........211........181............30.....17%
Total of 16 CO Big Corps............15,604....10,575.....5,029.... 48%
(1) DISH Network PTI excludes large Litigation Charges in both years.
(2) Discovery Communications PTI excludes loss on debt extinguishment in 2010 and also excludes gains on asset dispositions in 2009.
(3) Qwest Communications 2010 PTI excludes loss on debt extinguishment and on convertible debt options.
(4) Cimarex Energy, Forest Oil and SM Energy 2009 PTI exclude Gas and Oil Property Asset Impairment Charges from applying the Ceiling Test.
(5) Davita 2010 PTI excludes loss on debt refinancing charge.
(6) Janus Capital Group 2009 PTI excludes large Intangible Asset Impairment Charge.
Yeah, that's right, all 16 Colorado Big Corps had earnings increases in the most recent year, and the total earnings increase of these 16 largest Colorado Corps was $5.0 bil, or up a very robust 48%.
And yet about half of the country still thinks that the Obama Administration is not helping the US economy. These incredibly strong most recent Colorado earnings numbers in 2010 are telling the same story that the stock market has been saying for the past two years….that the Obama Administration has really helped the US economy.
Earnings drive stock prices. And when you combine these extremely strong most recent Colorado Big Corp earnings, with the superb earnings increases for 2010 that I discovered in all the US States I have studied so far...in Wisconsin, in Indiana, in Ohio, in Michigan, in North Carolina, in Minnesota, in Florida, in Virginia, in Pennsylvania, and in Massachusetts..., I think it tells you that even though the stock market has almost doubled in the past two years, it is going much higher, assuming the US government can effectively and fairly deal with Big Oil windfall profits.
Speaking of Big Oil Windfall Profits, Colorado is certainly not a Texas or even an Oklahoma when it comes to Big Oil and Gas, but let me isolate below Colorado's four Oil & Gas Corps included in the earlier Big Corp Earnings chart.
.....................................................PTI.........PTI.........Increase...
Colorado Oil and Gas Corps.........2010......2009....Amount...%..
..........................................................(millions of dollars)......
Cimarex Energy............................914........303.........611...202%
Whiting Petroleum........................541.......(163).......704...432%
Forest Oil......................................348.......143.........205....143%
SM Energy....................................314.........16..........298..1863%
Total of 4 CO Oil & Gas Corps......2,117.......299.......1,818...608%
I think the country has to effectively deal with these Big Oil and Gas windfall profits. I think that the tax and other incentives should go to the companies that best help make the US energy independent. This goal is not just important for the security of US citizens, but it also is critically important for a long-term Job-full True Economic Recovery.
The above research, where I found 16 Colorado Big Corps, was performed through the end of March 2011. Since then, in April and May 2011, I extended this research, and I found 1 additional Colorado Big Corp, which is shown here below.
..........................................2010.......2009.........Increase
...........................................Core........Core........(Decrease)
.......State..........................PTI(L)......PTI(L).....Amount.....%
..............................................(millions of dollars)....
Late Big Corp Addition
QEP Resources.....CO........453............333...........120......36%
