I found 7 Corporations headquartered in Utah, 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 fiscal years.
Included in these 7 is Autoliv, a Swedish Corp, but with substantial operations in the US, and with a Salt Lake City SEC State Location Code in Utah.
These 7 Utah Corps had a Total Pretax Loss of $1.1 bil in 2009. This loss turned around to a Total Pretax Profit of $1.4 bil in 2010, and improved markedly from there, with a Total Pretax Profit of $2.5 bil in 2011, for a total Pretax Profit increase of $3.6 bil in just the most recent two years.
The main driver of this remarkable profit turnaround was Zions Bancorp. And Auto Parts company Autoliv and Chemical company Huntsman have also had massive profit improvements in the most recent two years.
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, such as Asset Impairments, and Gains and Losses on both Debt Retirements and Asset Dispositions.
Clearly, the Obama Administration has created an economic environment that has permitted these Utah Corporations to flat-out flourish.
| 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 | |||
| Utah | |||||
| Autoliv | 828 | 806 | 6 | 3% | 13700% |
| Zions Bancorp | 521 | (403) | (1,557) | 229% | 133% |
| Huntsman | 360 | 203 | (266) | 77% | 235% |
| Questar | 324 | 302 | 285 | 7% | 14% |
| Nu Skin Enterprises | 227 | 208 | 141 | 9% | 61% |
| Myriad Genetics | 160 | 141 | 136 | 13% | 18% |
| SkyWest | 44 | 130 | 132 | -66% | -67% |
| Total all 7 | 2,464 | 1,387 | (1,123) | 78% | 319% |
