I found four Corporations, headquartered in the scenic state of Idaho, which file with the SEC, and which had Pretax Income or Pretax Loss of more than $100 mil in any of the most recent three years.
These four Idaho Corps had a Total Pretax Loss of $1.8 bil in 2009, which turned around to a Total Pretax Income of $1.1 bil in 2011, for a $2.9 bil profit improvement.
And all four of these Idaho Corps had their earnings in 2009 more than double in 2011.
In deriving Pretax Income, I start with Pretax Income under Generally Accepted Accounting Principles (GAAP), and then exclude several clearly unusual very large items relative to Pretax Income, specifically Micron Technology’s large Gain on Acquisitions in 2010, Coeur D Alene Mines’ Fair Value Adjustments and Gains and Losses on Debt Extinguishments, Hecla Mining’s Derivative Gains and Losses and large Environmental Charge in 2010, as well as Boise’s Loss on Debt Retirements and large Fuel Tax Credits in 2009.
Clearly, the Obama Administration has created an economic environment in the past two years that has permitted these Idaho Corporations to flourish.
Below here is the Pretax Income (PTI) and Pretax Loss (PTL) of these four Idaho Corps for each of the most recent three years.
| Obama | |||||
| Bump | |||||
| PTI(L) | PTI(L) | ||||
| 1 Year | 2 Year | ||||
| PTI(L) | PTI(L) | PTI(L) | % | % | |
| 2011 | 2010 | 2009 | Change | Change | |
| mils $s | mils $s | mils $s | |||
| Idaho | |||||
| Micron Technology | 551 | 1,483 | (1,852) | -63% | 130% |
| Coeur D Alene Mines | 266 | 44 | (26) | 505% | 1123% |
| Hecla Mining | 195 | 142 | 60 | 37% | 225% |
| Boise | 125 | 130 | 18 | -4% | 594% |
| Total all 4 | 1,137 | 1,799 | (1,800) | -37% | 163% |
