Massachusetts Smaller Corp 2011 Annual Earnings Up 298% Since 2009 Under Obama: Updated

There were 54 Massachusetts headquartered Corps, with Pretax Income or Pretax Loss of $100 mil or more in any of the most recent three years, and which file with the SEC.

These 54 Largest Massachusetts Corps generated Total Pretax Income in 2011 which was 48% higher than that of two years earlier in 2009.

Now I wanted to see if these strong earnings also applied to the even smaller Massachusetts Corps, which file with the SEC.

I found 68 Massachusetts headquartered Smaller Corps filing with the SEC, which had Pretax Income or Pretax Loss of $20 mil or more in any of the most recent three years, and which weren't included in the 54 Largest Massachusetts Corps.  Thus, these 68 Smaller Massachusetts Corps also did not have Pretax Income or Pretax Loss of $100 mil or more in any of the most recent three years.  I used a lower $20 mil Pretax Income and Pretax Loss threshold in order to make sure the number of companies here are of sufficient size to be able to reach a valid conclusion.   

How did they do?  Well, these 68 Smaller Massachusetts Corps generated total earnings growth in the most recent two years of an off-the-charts 298%, or more than 6 Times the 47% total earnings growth of the 54 Largest Massachusetts Corps.

Clearly, Massachusetts citizens should be very proud of their many superb Massachusetts companies, of all sizes.

And yeah, the Obama Administration created a very robust US economic environment, which permitted these exceptional Massachusetts companies of all sizes to do just fantastically on the earnings front 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.

I use Pretax Income rather than After-tax Net Income, since so much of the change in effective income tax rates just happens due to financial engineering.

I excluded Corps in the Development Stage, and ones lacking significant reported revenues.

Below here is the Pretax Income (PTI) or Pretax Loss of each of these 54 Largest and 68 Smaller Massachusetts Corporations for each of the most recent three fiscal years, along with the related percentage changes in earnings.

					US House	US House	Obama
					Republican	Democratic	Bump
					Control	Control	Two
					PTI(L)	PTI(L)	Year
					%	%	%
					Change	Change	Change
		PTI(L)	PTI(L)	PTI(L)	2011	2010	2011
	Massachusetts	2011	2010	2009	vs	vs	vs
	HQs	mils $s	mils $s	mils $s	2010	2009	2009
Massachusetts Largest Corps
EMC	Hopkinton	3,249	2,608	1,375	25%	90%	136%
Raytheon	Waltham	2,690	2,827	2,930	-5%	-4%	-8%
State Street Corp	Boston	2,536	2,086	2,525	22%	-17%	0%
TJX	Framingham	2,411	2,164	1,952	11%	11%	24%
Covidien Ltd	Boston Area	2,216	1,926	1,807	15%	7%	23%
Biogen IDEC	Weston	1,711	1,475	1,333	16%	11%	28%
Staples	Framingham	1,459	1,357	1,156	8%	17%	26%
Thermo Fisher Scientific	Waltham	1,127	1,106	880	2%	26%	28%
Analog Devices	Norwood	1,061	902	297	18%	204%	257%
American Tower	Boston	638	556	421	15%	32%	52%
Boston Scientifc	Natick	630	465	714	35%	-35%	-12%
Waters Corp	Milford	509	438	387	16%	13%	32%
Affiliated Managers	Prides Crossing	453	379	246	20%	54%	84%
Iron Mountain	Boston	400	420	345	-5%	22%	16%
Eaton Vance	Boston	384	327	207	17%	58%	86%
Boston Properties	Boston	314	278	263	13%	6%	19%
Akamai Technologies	Cambridge	307	262	237	17%	11%	30%
Skyworks Solutions	Woburn	294	195	70	51%	179%	320%
CYS Investments	Waltham	292	22	64	1227%	-66%	356%
LPL Investment	Boston	283	(51)	73	655%	-170%	288%
TripAdvisor	Newton	272	224	167	21%	34%	63%
Teradyne	North Reading	219	389	(144)	-44%	370%	252%
Hospitality Properties	Newton	208	193	148	8%	30%	41%
Cabot Corp	Boston	203	166	(99)	22%	268%	305%
Cubist Pharmaceuticals	Lexington	197	154	120	28%	28%	64%
Sensata Technologies	Boston Area	195	125	(71)	56%	276%	375%
Medical Information Technology	Westwood	192	170	127	13%	34%	51%
MKS Instruments	Andover	186	196	(27)	-5%	826%	789%
Clean Harbors	Norwell	185	184	61	1%	202%	203%
Momenta Pharmaceuticals	Cambridge	180	37	(64)	386%	158%	381%
IPG Photonics	Oxford	175	79	8	122%	888%	2088%
Hologic	Bedford	172	165	190	4%	-13%	-9%
Bruker	Billerica	146	150	129	-3%	16%	13%
Senior Housing Properties	Newton	145	129	129	12%	0%	12%
Charles River Labs	Wilmington	133	92	152	45%	-39%	-13%
Entegris	Billerica	128	101	(60)	27%	268%	313%
Hittite Microwave	Chelmsford	122	119	70	3%	70%	74%
Dunkin Brands	Canton	121	81	74	49%	9%	64%
Unifirst	Wilmington	121	123	126	-2%	-2%	-4%
Sapient	Boston	111	68	44	63%	55%	152%
Haemonetics	Braintree	110	97	85	13%	14%	29%
ParametricTechnology	Needham	105	82	17	28%	382%	518%
Watts Water Technologies	North Andover	101	95	72	6%	32%	40%
Brooks Automation	Chelmsford	83	56	(119)	48%	147%	170%
OneBeacon Insurance	Canton	83	139	508	-40%	-73%	-84%
PerkinElmer	Waltham	64	166	100	-61%	66%	-36%
LTX-Credence	Norwood	60	18	(137)	233%	113%	144%
Vertex Pharmaceuticals	Cambridge	60	(755)	(642)	108%	-18%	109%
Hanover Insurance Group	Worcester	22	211	271	-90%	-22%	-92%
Aspen Technology	Burlington	(44)	(101)	54	56%	-287%	-181%
Ariad Pharmaceuticals	Cambridge	(77)	105	(72)	-173%	246%	-7%
Talbot's	Hingham	(104)	39	(29)	-367%	234%	-259%
American Superconductor	Devens	(110)	(17)	37	-547%	-146%	-397%
First Marblehead	Boston	(219)	(216)	(551)	-1%	61%	60%
Total all 54 Largest Corps		26,509	22,606	17,956	17%	26%	48%
Massachusetts Smaller Corps
Beacon Roofing Supply	Peabody	90	55	86	64%	-36%	5%
Progress Software	Bedford	88	71	51	24%	39%	73%
Cognex	Natick	87	76	(10)	14%	860%	970%
Boston Beer	Boston	83	81	54	2%	50%	54%
Acme Packet	Bedford	74	67	19	10%	253%	289%
Independent Bank	Rockland	63	52	42	21%	24%	50%
Commonwealth REIT	Newton	62	12	62	417%	-81%	0%
Atlantic Broadband Finance	Quincy	60	46	39	30%	18%	54%
Parexel International	Waltham	59	63	64	-6%	-2%	-8%
American Renal Holdings	Beverly	58	38	37	53%	3%	57%
iRobot	Bedford	54	34	5	59%	580%	980%
Yankee Holding	South Deerfield	54	66	41	-18%	61%	32%
Boston Private Financial	Boston	51	(32)	18	259%	-278%	183%
NetScout Systems	Westford	51	56	43	-9%	30%	19%
Circor International	Burlington	50	46	57	9%	-19%	-12%
Brookline Bancorp	Brookline	49	47	33	4%	42%	48%
Altra Holdings	Braintree	48	35	(5)	37%	800%	1060%
Zoll Medical	Chelmsford	48	28	13	71%	115%	269%
Government Properties Income Trust	Newton	46	32	26	44%	23%	77%
Ameresco	Framingham	45	41	27	10%	52%	67%
M/A-Com Technology Solutions	Lowell	45	16	(23)	181%	170%	296%
Aspect Software Group	Chelmsford	43	37	39	16%	-5%	10%
Atlantic Tele Network	Beverly	42	44	75	-5%	-41%	-44%
Forrester Research	Cambridge	39	34	34	15%	0%	15%
Kadant	Westford	38	24	(2)	58%	1300%	2000%
Monotype Imaging Holdings	Woburn	35	27	21	30%	29%	67%
Athena Health	Watertown	33	23	18	43%	28%	83%
American Science & Engineering	Billerica	32	65	55	-51%	18%	-42%
GSI Group	Bedford	32	36	(41)	-11%	188%	178%
Aveo Pharmaceutics	Cambridge	31	(59)	(44)	153%	-34%	170%
Nuance Communications	Burlington	30	(1)	21	3100%	-105%	43%
CRA International	Boston	28	6	13	367%	-54%	115%
Mercury Computer Systems	Chelmsford	27	19	8	42%	138%	238%
Virtusa	Westborough	26	18	13	44%	38%	100%
TravelCenters of America	Newton	25	(67)	(89)	137%	25%	128%
NewStar Financial	Boston	24	11	(70)	118%	116%	134%
Analogic	Peabody	21	21	(2)	0%	1150%	1150%
Dynamics Research	Andover	20	20	17	0%	18%	18%
Berkshire Hills Bancorp	Pittsfield	19	16	(32)	19%	150%	159%
Global Partners	Waltham	19	27	36	-30%	-25%	-47%
Meridian Interstate Bancorp	East Boston	19	21	6	-10%	250%	217%
Five Star Quality Care	Newton	18	27	8	-33%	238%	125%
Franklin Street Properties	Wakefield	18	17	27	6%	-37%	-33%
Safety Insurance	Boston	14	79	74	-82%	7%	-81%
Vicor	Andover	14	30	5	-53%	500%	180%
LS Starrett	Atholma	12	(8)	(33)	250%	76%	136%
Pegasystems	Cambridge	11	0	47	NM	-100%	-77%
Smith & Wesson	Springfield	8	47	19	-83%	147%	-58%
Axcelis Technologies	Beverly	7	(17)	(77)	141%	78%	109%
Lantheus Medical Imaging	North Billerica	6	24	46	-75%	-48%	-87%
Abiomed	Danvers	2	(11)	(25)	118%	56%	108%
Helicos Biosciences	Cambridge	(6)	(21)	(28)	71%	25%	79%
Arqule	Woburn	(11)	(31)	(36)	65%	14%	69%
NxStage Medical	Lawrence	(21)	(31)	(43)	32%	28%	51%
Avid Technology	Burlington	(23)	(42)	(70)	45%	40%	67%
Idera Pharmaceuticals	Cambridge	(26)	(18)	7	-44%	-357%	-471%
Alere	Waltham	(27)	6	53	-550%	-89%	-151%
Infinity Pharmaceuticals	Cambridge	(40)	(50)	(32)	20%	-56%	-25%
Zalicus	Cambridge	(43)	(7)	(21)	-514%	67%	-105%
Celldex Therapeutics	Needham	(45)	(3)	(37)	-1400%	92%	-22%
Synta Pharmaceuticals	Lexington	(47)	(37)	79	-27%	-147%	-159%
Idenix Pharmaceuticals	Cambridge	(52)	(62)	(53)	16%	-17%	2%
Insulet	Bedford	(57)	(61)	(72)	7%	15%	21%
Alnylam Pharmaceuticals	Cambridge	(58)	(43)	(47)	-35%	9%	-23%
Immunogen	Waltham	(58)	(51)	(32)	-14%	-59%	-81%
Ironwood Pharmaceuticals	Cambridge	(65)	(59)	(60)	-10%	2%	-8%
Amag Pharmaceuticals	Lexington	(78)	(82)	(95)	5%	14%	18%
Merrimack Pharmaceuticals	Cambridge	(80)	(50)	(52)	-60%	4%	-54%
Total all 68 Smaller Corps		1,221	798	307	53%	160%	298%

US Non-Profit Hospitals On Life Support Recuperate By Successful Obama Financial Surgery

In a recent post, I revealed how the financial strength of US Catholic Hospital Organizations, which hold an extensive treasure chest of investments in common stocks and bonds, which substantially exceed in amount the total investments in property and equipment by these same hospitals, was just thoroughly and completely devastated in 2008 by the financial meltdown of the US economy.

And it wasn't just the massive amounts of investments in common stocks and bonds which were on the books of these US Catholic Hospitals.  In addition, there are massive amounts of investments in common stocks and bonds that are off books, in footnotes.  These would be these investments in pension trusts of Catholic Hospitals.

And in addition, there are so many financial swaps entered into by Catholic Hospitals.

Further, when you review the type of investments in bonds and other debt instruments, you can see there are many that were investments in US Government Agencies like Fannie Mae and Freddie Mac.  Also, there are many investments in residential mortgages backed by Fannie Mae and Freddie Mac.

When you go back to the financial meltdown in 2008, not only did the stock market end up crashing, but also so many financial institutions were about to go belly up.

And because of their massive losses, mostly driven by both Credit Losses and Derivative Losses, both Fannie Mae and Freddie Mac were bankrupt, with losses so large and expected to continue for many years.

Thus so many Non-Profit Hospitals, both Catholic and Non-Catholic, were also in serious financial jeopardy.  Not only did their investments in common stocks crash, but they had massive investments in debt instruments linked to Fannie Mae and Freddie Mac, two flat out bankrupt entities.

And they also had investments in US corporate debt, where the corporations had huge amounts of debt instruments linked to Fannie Mae and Freddie Mac.

And much of these hospital investments in US corporate debt were with corporations whose earnings had collapsed with the deep recession.

Further, many of these Non-Profit Hospitals took huge losses on their financial swaps.  

When a typical person thinks of Non-Profit Hospitals, they expect to see a massive amount of Property and Equipment on the balance sheet.  Thus, this person wouldn't expect to see Non-Profit Hospitals substantially impacted much by the financial meltdown of 2008.

But so many of these Non-Profit Hospitals held investments in equity and debt instruments that far exceed their investments in Hard Hospital Assets.  And when you also factor in all of the equity and debt instruments held in the pension trusts of Non-Profit Hospitals, this excess of Soft Investments in Equity and Debt Instruments over Hard Investments in Property and Equipment balloons up.

Further, with the deep, lengthy recession, hospital bad debts from patient accounts receivable were continually going through the roof.  And so were hospital charity care costs, which were also continually and dramatically increasing due to the deep, lengthy recession. 

When I get some time, I will later be a lot more specific on the balance sheet and income statement makeups of some of these huge Non-Profit Hospitals.

But for now, suffice it to say that many Non-Profit Hospitals were in serious financial jeopardy in late 2008 and early 2009, before the Obama Team, aided by the Fed, went into action.

The end result was a stock market that subsequently nearly doubled over the next three years, a rescue of the auto industry, and a massive turn around of so many financial institutions which were clearly headed for the junk pile, including AIG, Merrill Lynch, Wachovia, Bank of America, Citigroup, and so many banks.

These financial institutions were all cleaned up by the Obama Administration, with able assistance from the Fed, with an overall result of not costing US taxpayers a dime.

The clear exceptions are Fannie Mae and Freddie Mac, which were overseen by an independent government entity, and thus the Obama Administration had no control over.

And after many years of massive losses, even both Fannie Mae and Freddie Mac registered positive Pretax Income in the most recent 1Q 2012.  I have a hunch that the independent government entity overseeing Fannie and Freddie might have decided to start listening to the financial recommendations of the Obama Administration regarding Fannie and Freddie.  After all, there was a magical financial turnaround in both Fannie and Freddie in the most recent quarter.  Let's hope it continues.

And hospital investments in debt securities of corporations were subsequently enhanced in value by the dramatically higher earnings of these corporations, making their debt securities much more secure.

Thus, in near miraculous fashion, this severely-damaged financial strength of these Non-Profit Hospitals has been resurrected in the most recent three years, due mainly to many wise, decisive actions by the Obama Administration, coupled with assistance by actions by the Fed, which created a US economic infrastructure which permitted US businesses, of all sizes and in all industries, to flourish.  Thus the investments of these Non-Profit Hospitals in stocks and debt instruments of US businesses have also been substantially enhanced.

Total Net Assets, or the Excess of Total Assets over Total Liabilities, is the singularly salient measure of the financial strength of a Non-Profit Hospital.

When the Total Net Assets of a Non-Profit Hospital increases significantly, with this enhanced financial strength, the Hospital can now borrow at more favorable interest rates.  And they can refinance a good chunk of their existing higher interest rate hospital borrowings at the current, lower prevailing interest rates.  And the Fed has really helped on interest rates here.

In my earlier recent post on US Catholic Hospitals, I found 22 of them with Net Assets (i.e. Excess of Total Assets over Total Liabilities) of more than $800 mil each, and which had comparable Net Asset disclosures in the most recent three-year period. These financial statements of Hospitals were found mainly in two very fine Internet sources: DAC Bond and EMMA (i.e. Electronic Municipal Market Access of the Municipal Securities Rulemaking Board).

These 22 Catholic Hospital Organizations had total Net Assets of $70.3 bil at the most recent reported balance sheet date, which was March 31, 2012 for most of them.

In comparison, the total Net Assets of these same 22 Catholic Hospital Organizations was $63.6 bil one year ago, and was $49.3 bil at their respective fiscal year ends (FYEs) of the closest date to three years earlier.

Thus, the Net Assets of these 22 Catholic Hospital Organizations increased by $21 bil, or by 42%, in just the most recent three years, or during the entire Obama Administration so far.

When you think about it, that 42% Net Asset growth in only three years is just incredible. The overwhelming majority of the Net Assets balance at any time is the cumulative tax-free profits, both from hospital operations and from investments, since the inception of the hospital organizations.

In just the most recent three years, these 22 Catholic Hospital Organizations generated a 42% profit growth on their Net Asset balance of three years ago, which was accumulated over decades and decades of hospital operations and investment returns.

Clearly, the executives of Catholic Hospitals, all employees of Catholic Hospitals, all retirees of Catholic Hospitals, the Board of Directors of Catholic Hospitals, and the bondholders of these Catholic Hospitals have to all be just elated with what has happened with the financial strength of their Catholic Hospitals during the Obama Administration.

In this post, I am addressing the US Non-Catholic, Non-Profit Hospitals.  With a quick review, I found 81 of these Hospital Organizations which had Total Net Assets above $1 bil each.

What has happened to the Total Net Assets of these 81 Non-Catholic, Non-Profit Hospital Organizations during the Obama Administration so far?

Well, even better than what happened with the Catholic Hospitals, whose Total Net Assets grew by 42%.

The Non-Catholic, Non-Profit Hospitals had their Total Net Assets Increase by a higher 49% during the Obama Administration.

Their Total Net Assets at the most recent reported balance sheet date, or at March 2012 for the overwhelming majority of them, were $185 bil, or an increase of $61 bil in roughly the most recent three years.  Whew!

Clearly, the executives, employees, retirees, Board of Directors, and Bondholders of these Non-Catholic, Non-Profit Hospital Organizations have to all be just elated with what has happened with the financial strength of their Hospitals during the Obama Administration.

And frankly, so should hospital patients, US businesses, and US taxpayers.  

Why?  Because if the Obama Administration had not completely rescued these Non-Profit Hospitals, the US health care cost curve would have sloped substantially upward, with resultant massively higher hospital patient fees, higher health insurance premiums, and higher Medicare and Medicaid costs.

And also frankly, how in the world could the US Supreme Court be in a position of making a sufficiently reasoned ruling on health insurance mandates and perhaps even on whether the Affordable Care Act should be overthrown, when they couldn't possibly have the necessary understanding on the finances of Non-Profit Hospitals, which is both so complicated and also so critical to the viability of the entire US Health Care System. 

And it's pretty clear that the US Congress doesn't have the requisite understanding of the financial aspects of the US Health Care System.  

The only part of the US Government that does is the Obama Administration, working in conjunction with the Fed.

Below here are these 81 Non-Catholic, Non-Profit Hospital Organizations, along with their Net Asset Amounts at the Most Recently Reported Balance Sheet Date and at the Fiscal Year Ended (FYE) closest to Three Years Earlier, thus roughly during the most recent three years of the Obama Administration.

			Most	Three	Three	Obama	Obama
			Recent	Years	Years	Bump	Bump
		Most	Balance	Earlier	Earlier	Net	Net
		Recent	Sheet	FYE	FYE	Assets	Assets
		Balance	Net	Balance	Net	Increase	Increase
		Sheet	Assets	Sheet	Assets	Amount	%
Hospital Organization	HQs	Date	mils $s	Date	mils $s	mils $s
Kaiser Permanente	Oakland, CA	Mar 12	13,995	Dec 08	11,431	2,564	22%
Sutter Health	Sacramento, CA	Mar 12	6,882	Dec 08	4,298	2,584	60%
Partners Healthcare System	Boston, MA	Mar 12	5,888	Sep 09	4,975	913	18%
Adventist Health System	Winter Park, FL	Dec 11	5,146	Dec 08	3,407	1,739	51%
Mayo Clinic	Rochester, MN	Mar 12	5,032	Dec 08	2,326	2,706	116%
Cleveland Clinic Health System	Cleveland, OH	Mar 12	4,711	Dec 08	2,715	1,996	74%
UPMC	Pittsburgh, PA	Mar 12	4,305	Jun 09	2,756	1,549	56%
BJC HealthCare	St Louis, MO	Mar 12	4,293	Dec 08	2,705	1,588	59%
Memorial Sloan-Kettering Cancer Center	NY, NY	Mar 12	4,114	Dec 08	3,224	890	28%
Advocate HealthCare Network	Oak Brook, IL	Mar 12	3,808	Dec 08	1,842	1,966	107%
The Methodist Hospital System	Houston, TX	Mar 12	3,658	Dec 08	2,375	1,283	54%
NY and Presbyterian Hospital	NY, NY	Mar 12	3,373	Dec 08	2,333	1,040	45%
Banner Health	Phoenix, AZ	Mar 12	3,258	Dec 08	1,669	1,589	95%
Inova Health System	Northern VA	Mar 12	3,243	Dec 08	1,885	1,358	72%
Johns Hopkins Health System	Baltimore, MD	Mar 12	3,234	Jun 09	1,273	1,961	154%
Children's Medical Center Boston	Boston, MA	Mar 12	3,204	Sep 09	2,516	688	27%
Indiana University Health	Indianapolis, IN	Mar 12	3,003	Dec 08	1,434	1,569	109%
Baylor Health Care System	Dallas, TX	Mar 12	2,991	Jun 09	2,166	825	38%
Texas Health Resources	Dallas, TX	Mar 12	2,964	Dec 08	1,921	1,043	54%
Carolinas Health Care System	Charlotte, NC	Dec 11	2,911	Dec 08	2,087	824	39%
Northwestern Memorial Health Care	Chicago, IL	Feb 12	2,623	Aug 09	1,642	981	60%
Texas Children's Hospital	Houston, TX	Mar 12	2,591	Sep 09	2,088	503	24%
Baycare Health System	Tampa, FL	Mar 12	2,571	Dec 08	1,523	1,048	69%
Sentara Health Care	Norfolk, VA	Mar 12	2,565	Dec 08	1,489	1,076	72%
Jefferson Health System	Radnor, PA	Mar 12	2,491	Jun 09	1,860	631	34%
Children's Hospital Philadelphia	Philadelphia, PA	Dec 11	2,471	Jun 09	1,938	533	28%
Children's Healthcare of Atlanta	Atlanta, GA	Mar 12	2,347	Dec 08	1,482	865	58%
Baptist Health South Florida	Miami, FL	Mar 12	2,243	Sep 09	1,571	672	43%
OhioHealth	Columbus, OH	Mar 12	2,188	Jun 09	1,259	929	74%
NorthShore Long Island Jewish Health	NY, NY	Mar 12	2,167	Dec 08	614	1,553	253%
Duke University Health System	Durham, NC	Mar 12	2,147	Jun 09	1,392	755	54%
Scripps Health	San Diego, CA	Mar 12	2,081	Sep 09	1,354	727	54%
Memorial Hermann Healthcare System	Houston, TX	Mar 12	2,009	Jun 09	1,509	500	33%
Novant Health	Winston-Salem, NC	Mar 12	1,957	Dec 08	1,557	400	26%
Oregon Health & Science University	Portland, OR	Mar 12	1,926	Jun 09	1,570	356	23%
Iowa Health System	Des Moines, IA	Mar 12	1,845	Dec 08	1,067	778	73%
University Penn Health System	Philadelphia	Mar 12	1,826	Jun 09	1,163	663	57%
Baptist Memorial Health Care	Memphis, TN	Mar 12	1,816	Sep 09	1,501	315	21%
NorthShore University Health Systems	Evanston, IL	Mar 12	1,732	Sep 09	1,443	289	20%
Geisinger Health System	Danville, PA	Mar 12	1,706	Jun 09	901	805	89%
Sanford	Sioux Falls, SD	Mar 12	1,699	Jun 09	1,242	457	37%
Spectrum Health System	Grand Rapids, MI	Mar 12	1,569	Jun 09	1,128	441	39%
ProMedica Health Care	Toledo, OH	Dec 11	1,535	Dec 08	1,042	493	47%
Rush University Medical Center	Chicago, IL	Mar 12	1,506	Jun 09	1,073	433	40%
Stanford Hospital & Clinics	Palo Alto, CA	Feb 12	1,495	Aug 09	807	688	85%
Allina Health System	Minneapolis, MN	Mar 12	1,491	Dec 08	804	687	85%
Seattle Children's Healthcare	Seattle, WA	Mar 12	1,488	Sep 09	1,195	293	25%
Adventist Health West	Roseville, CA	Mar 12	1,400	Dec 08	969	431	44%
University Hospitals Health System	Cleveland, OH	Mar 12	1,392	Dec 08	1,078	314	29%
Christiana Care Health Services	Wilmington, DE	Mar 12	1,392	Jun 09	881	511	58%
Henry Ford Health System	Detroit, MI	Mar 12	1,386	Dec 08	1,053	333	32%
LifeSpan	Providence, RI	Mar 12	1,368	Sep 09	1,225	143	12%
Premier Health Partners	Dayton, OH	Dec 11	1,330	Dec 08	1,111	219	20%
Sharp Health Care	San Diego, CA	Mar 12	1,330	Sep 09	806	524	65%
South Broward Hospital District	Hollywood, FL	Jan 12	1,322	Apr 09	1,011	311	31%
Children's Memorial Medical Center	Chicago, IL	Feb 12	1,322	Aug 09	1,051	271	26%
Nationwide Children's Hospital	Columbus, OH	Mar 12	1,319	Dec 08	761	558	73%
Children's Medical Center of Dallas	Dallas, TX	Mar 12	1,313	Dec 08	821	492	60%
Cook Children's Health	Dallas, TX	Mar 12	1,303	Sep 09	840	463	55%
University Maryland Medical System	Baltimore, MD	Mar 12	1,301	Jun 09	904	397	44%
Presbyterian Health Care Services	New Mexico	Mar 12	1,291	Dec 08	706	585	83%
CareGroup Health Care System	Boston, MA	Mar 12	1,254	Sep 09	978	276	28%
Fairview Health Services	Minneapolis, MN	Mar 12	1,192	Dec 08	732	460	63%
Multicare Health System	Tacoma, WA	Mar 12	1,183	Dec 08	650	533	82%
John Muir Health	Walnut Creek, CA	Mar 12	1,164	Dec 08	756	408	54%
University of Chicago Medical Center	Chicago, IL	Mar 12	1,154	Jun 09	823	331	40%
Froedtert Health	Milwaukee, WI	Mar 12	1,138	Jun 09	824	314	38%
Orlando Health	Orlando, FL	Mar 12	1,136	Sep 09	875	261	30%
Virginia Commonwealth University Health	Richmond, VA	Mar 12	1,115	Jun 09	756	359	47%
Medical College of Wisconsin	Milwaukee, WI	Mar 12	1,112	Jun 09	808	304	38%
Wellstar Health System	Marietta, GA	Mar 12	1,102	Jun 09	715	387	54%
Cone Health	Greensboro, NC	Mar 12	1,076	Sep 09	894	182	20%
Mission Health System	Asheville, NC	Mar 12	1,071	Sep 09	882	189	21%
MedStar Health	Columbia, MD	Mar 12	1,054	Jun 09	647	407	63%
St Luke's Episcopal Health System	Houston, TX	Mar 12	1,053	Dec 08	692	361	52%
Children's Hospital Colorado	Denver, CO	Mar 12	1,043	Dec 08	678	365	54%
Alegent Health	Omaha, NE	Mar 12	1,030	Jun 09	835	195	23%
Children's Hospital Los Angeles	Los Angeles, CA	Mar 12	1,028	Jun 09	758	270	36%
Lehigh Vallley Health Network	Allentown, PA	Mar 12	1,028	Jun 09	590	438	74%
North Carolina Baptist Hospital	Winston-Salem, NC	Mar 12	1,016	Jun 09	715	301	42%
Nemours Foundation	Jacksonville, FL	Dec 11	1,008	Dec 08	744	264	35%
Total all 81 Hospital Organizations			184,824		124,121	60,703	49%

Yeah, that's correct, these 81 Non-Catholic, Non-Profit Hospital Organizations had their Total Net Assets, the salient measure of their financial strength, grow by more more than $60 bil, or by a massive 49%, in the span of the Obama Administration so far.  And all 81 of them had at least double-digit percentage increases in their Total Net Assets during the Obama Administration, with the lowest increase being 12%.

And below here, from a quick review, are 12 other Non-Catholic, Non-Profit Hospital Organizations which had Total Net Assets of more than $1 bil, but did not have very recent disclosures of their Total Net Assets, and thus the change in their Total Net Assets was only for mostly just Two Years.

			Most	Two	Two	Obama	Obama
			Recent	Years	Years	Bump	Bump
		Most	Balance	Earlier	Earlier	Net	Net
		Recent	Sheet	FYE	FYE	Assets	Assets
		Balance	Net	Balance	Net	Increase	Increase
		Sheet	Assets	Sheet	Assets	Amount	%
	HQs	Date	mils $s	Date	mils $s	mils $s
Hospitals with Two Year Net Asset Changes
St. Jude Children's Research Hospital	Memphis, TN	Jun 11	2,542	Jun 09	1,907	635	33%
Cedars-Sinai Medical Center	Los Angeles, CA	Jun 11	1,997	Jun 09	1,517	480	32%
University of Michigan Hospitals & Health Sciences	Ann Arbor, MI	Jun 11	1,751	Jun 09	1,537	214	14%
UCLA Medical Center	Los Angeles, CA	Jun 11	1,715	Jun 09	1,350	365	27%
University of North Carolina Healthcare System	Chapel, NC	Jun 11	1,694	Jun 09	1,327	367	28%
NYU Langone Medical Center	NY, NY	Aug 11	1,584	Aug 09	1,277	307	24%
Children's Hospital Cincinnati	Cincinnati, OH	Jun 11	1,534	Jun 09	1,140	394	35%
Hoag Memorial Hospital Presbyterian	Newport Beach, CA	Sep 11	1,499	Sep 09	1,375	124	9%
Packard Children's Hospital	Palo Alto, CA	Aug 11	1,243	Aug 09	1,068	175	16%
Dallas County Hospital District (Parkland)	Dallas, TX	Dec 11	1,187	Sep 09	962	225	23%
University California San Francisco	San Fran, CA	Jun 11	1,124	Jun 09	761	363	48%
University of Iowa Hospitals & Clinics	Iowa City, IA	Jun 11	1,107	Jun 09	969	138	14%
Total all 12			18,977		15,190	3,787	25%