Of these 70 California Corps, 37 of them are Technology Corps.
These 37 Largest California Technology Corps filing with the SEC generated Audited US GAAP Total After-tax Net Income from Continuing Operations of $103 bil in the most recent fiscal year 2011, which was a profit improvement of a massive $80 bil, or up 346%, over the Total After-tax Net Income of $23 bil generated by these same 37 technology companies just three years earlier in 2008, the last year of the Bush/Cheney Administration.
And to illustrate just how widespread this earnings improvement during the Obama Administration is in the California Technology Sector, 34 of these 37 California Largest Technology Corps had 2011 earnings increases from that of three years ago, at the end of the Bush/Cheney Presidential term.
Further, to illustrate how awesomely powerful the total earnings growth was in the California Technology Sector during the Obama Administration, these 37 Largest California Technology Corps had their Audited US GAAP Total After-tax Net Income increase by $30 bil, or by 129%, in 2009 over 2008; by another $28 bil, or by 52% in 2010 over 2009; and by another $23 bil, or by 28%, in 2011 over 2010. Whew!
So if the question to be answered is whether, in the aggregate, these 37 Largest California Technology Corps are better off now than they were in the last year of the Bush/Cheney Administration, the answer is clearly yes, and by $80 bil better, or by nearly three and a half times better, as earnings performance is measured by the prestigious US Accounting Profession.
And the 33 Largest California Non-Technology Corps filing with the SEC generated Audited US GAAP Total After-tax Net Income from Continuing Operations of $79 bil in the most recent fiscal year 2011, which was a profit improvement of $30 bil, or up a robust 61%, over the Total After-tax Net Income of $49 bil generated by these same 33 Largest California Non-Technology companies just three years earlier in 2008, the last year of the Bush/Cheney Administration.
The two California Big Oil Corps......Chevron and Occidental Petroleum....comprised a massive 64% of the Total Earnings of these 33 Largest California Non-Technology Corps in 2008, the last year of the Bush/Cheney Administration.
But during the most recent three years of the Obama Administration, the California Finance and Other Sectors experienced huge total earnings growth.
The 13 Largest Non-Technology California Corps in the Finance Sector had their Total After-tax Net Income increase from only $4.6 bil in 2008 to $25.8 bil in 2011, an increase of a massive 455%. The clear leader here was the very well run Wells Fargo, which had its After-tax Earnings increase from only $2.7 bil in 2008 to $16.2 bil in the most recent 2011.
So, clearly it wasn't just the California Technology Sector, but also particularly the California Finance Sector, and even many California Corps in Other Sectors, which have had spectacular total earnings growth during the Obama Administration.
The only negative here is that this total earnings growth has decelerated, particularly so in 2012. It's all about the November 2010 Tea Party Election, which must be reversed all over the country in November 2012, in order to re-accelerate this total earnings growth, which is so critically needed to spur the country's present tepid real GDP growth and also needed to spur the presently modest US job creation.
President Obama can't do it alone. He needs a US Congress that will work with him. And even blue States like California can help here, not just by voting in more California US Congressional Democrats, but also by contributing to and helping in campaigns all across the country to remove from office the many Uncompromising, Very Conservative Republican members in key US Congressional races like Joe Walsh in Illinois, Michele Bachmann in Minnesota, Allen West in Florida, Steve King in Iowa, and Larry Bucshon in Indiana.....just to name a few. These Republicans, strongly supported by the Tea Party, have good intentions, but they are severely harming the country's economy.
Below here is the Audited under US GAAP After-tax Net Income or Net Loss for each of these 37 Largest California Technology Corps and 33 Largest California Non-Technology Corps for each of the most recent five fiscal years. The majority of these 70 California Corporations have a December Fiscal Year End (FYE).
FYE | FYE | FYE | FYE | FYE | ||
2011 | 2010 | 2009 | 2008 | 2007 | ||
Reported | Reported | Reported | Reported | Reported | ||
Audited | Audited | Audited | Audited | Audited | ||
After-Tax | After-Tax | After-Tax | After-Tax | After-Tax | ||
Net Income | Net Income | Net Income | Net Income | Net Income | ||
California | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | |
HQs | mil $s | mil $s | mil $s | mil $s | mil $s | |
California Technology Corps | ||||||
Apple | Cupertino | 25,922 | 14,013 | 8,235 | 6,119 | 3,495 |
Intel | Santa Clara | 12,942 | 11,464 | 4,369 | 5,292 | 6,976 |
Oracle | Redwood City | 9,981 | 8,547 | 6,135 | 5,593 | 5,521 |
Mountain View | 9,737 | 8,505 | 6,520 | 4,227 | 4,204 | |
Cisco Systems | San Jose | 8,041 | 6,490 | 7,767 | 6,134 | 8,052 |
Hewlett Packard | Palo Alto | 7,074 | 8,761 | 7,660 | 8,329 | 7,264 |
Qualcomm | San Diego | 4,555 | 3,520 | 1,792 | 3,347 | 3,447 |
Ebay | San Jose | 3,229 | 1,801 | 2,389 | 1,779 | 348 |
Seagate Technology | Cupertino | 2,862 | 511 | 1,609 | (3,125) | 1,251 |
Applied Materials | Santa Clara | 1,926 | 938 | (305) | 961 | 1,710 |
Western Digital | Irvine | 1,612 | 726 | 1,382 | 470 | 867 |
Symantec | Mountain View | 1,172 | 593 | 714 | (6,786) | 410 |
Activision Blizzard | Santa Monica | 1,085 | 418 | 113 | (107) | 227 |
Yahoo! | Sunnyvale | 1,063 | 1,245 | 605 | 425 | 642 |
Agilent Technologies | Santa Clara | 1,012 | 684 | (31) | 693 | 638 |
Menlo Park | 1,000 | 606 | 229 | (56) | (138) | |
Sandisk | Milpitas | 987 | 1,300 | 415 | (1,987) | 191 |
Broadcom | Irvine | 927 | 1,082 | 65 | 215 | 213 |
Adobe Systems | San Jose | 833 | 775 | 387 | 872 | 724 |
Altera | San Jose | 771 | 783 | 251 | 360 | 290 |
Intuit | Mountain View | 767 | 652 | 564 | 459 | 457 |
KLA Tencor | Milpitas | 756 | 794 | 212 | (523) | 359 |
VMWare | Palo Alto | 724 | 357 | 197 | 290 | 218 |
Marvell Technology Group | Santa Clara | 615 | 904 | 353 | 147 | (114) |
NetApp | Sunnyvale | 605 | 673 | 400 | 65 | 310 |
NVIDIA | Santa Clara | 581 | 253 | (68) | (30) | 798 |
Check Point Software | Redwood City | 544 | 453 | 358 | 324 | 281 |
Xilinx | San Jose | 530 | 642 | 357 | 362 | 369 |
Flextronics International | Silicon Valley | 511 | 606 | 25 | (6,123) | (664) |
Advanced Micro Devices | Sunnyvale | 495 | 471 | 296 | (2,412) | (2,808) |
Juniper Networks | Sunnyvale | 425 | 619 | 115 | 512 | 361 |
Linear Technology | Milpitas | 398 | 581 | 361 | 289 | 367 |
Lam Research | Fremont | 169 | 724 | 347 | (302) | 439 |
Electronic Arts | Redwood City | 76 | (276) | (677) | (1,088) | (454) |
Sanmina-SCI | San Jose | 69 | 122 | (138) | (513) | (1,143) |
JDS Uniphase | Milpitas | (56) | 72 | (62) | (910) | (40) |
SunPower | San Jose | (604) | 167 | 33 | (124) | 28 |
Total all 37 Technology Corps | 103,336 | 80,576 | 52,974 | 23,178 | 45,096 | |
Annual Increase (Decrease) | ||||||
…..Amount | 22,760 | 27,602 | 29,796 | (21,918) | ||
…..Percentage | 28% | 52% | 129% | -49% | ||
Three Year Increase (2008-2011) Under Obama | ||||||
…..Amount | 80,158 | |||||
…..Percentage | 346% | |||||
FYE | FYE | FYE | FYE | FYE | ||
2011 | 2010 | 2009 | 2008 | 2007 | ||
Reported | Reported | Reported | Reported | Reported | ||
Audited | Audited | Audited | Audited | Audited | ||
After-Tax | After-Tax | After-Tax | After-Tax | After-Tax | ||
Net Income | Net Income | Net Income | Net Income | Net Income | ||
California | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | |
HQs | mil $s | mil $s | mil $s | mil $s | mil $s | |
California Non-Technology Corps | ||||||
Big Oil | ||||||
Chevron | San Ramon | 27,008 | 19,136 | 10,563 | 24,031 | 18,795 |
Occidental Petroleum | Los Angeles | 6,640 | 4,569 | 3,151 | 7,183 | 5,072 |
Total 2 Big Oil Corps | 33,648 | 23,705 | 13,714 | 31,214 | 23,867 | |
Finance Including REITs | ||||||
Wells Fargo | San Francisco | 16,211 | 12,663 | 12,667 | 2,698 | 8,265 |
Visa | San Francisco | 3,646 | 2,964 | 2,352 | 804 | (1,071) |
Franklin Resources | San Mateo | 1,821 | 1,451 | 904 | 1,600 | 1,773 |
Toyota Motor Credit | Torrance | 1,486 | 1,853 | 1,063 | (623) | (223) |
Charles Schwab | San Francisco | 864 | 454 | 787 | 1,230 | 1,120 |
Public Storage | Glendale | 834 | 689 | 797 | 980 | 489 |
UnionBanCal | San Francisco | 763 | 554 | (65) | 284 | 573 |
HCP | Long Beach | 550 | 321 | 103 | 228 | 131 |
KKR Financial Holdings | San Francisco | 318 | 371 | 77 | (1,078) | 217 |
CBRE Group | Los Angeles | 240 | 142 | (28) | (1,076) | 400 |
PacWest Bancorp | Rancho Santa Fe | 51 | (62) | (9) | (728) | 90 |
Prologis | San Francisco | (244) | (1,589) | (355) | (367) | 841 |
International Lease Finance Corp | Los Angeles | (724) | (496) | 887 | 696 | 597 |
Total all 13 Finance Corps | 25,816 | 19,315 | 19,180 | 4,648 | 13,202 | |
Other Sectors | ||||||
Walt Disney | Burbank | 5,258 | 4,313 | 3,609 | 4,729 | 4,851 |
Amgen | Thousand Oaks | 3,683 | 4,627 | 4,605 | 4,052 | 3,078 |
Gilead Sciences | Foster City | 2,789 | 2,890 | 2,626 | 1,970 | 1,576 |
DIRECTV | El Segundo | 2,636 | 2,312 | 1,007 | 1,607 | 1,445 |
McKesson | San Francisco | 1,403 | 1,130 | 1,263 | 823 | 989 |
Allergan | Irvine | 938 | 5 | 624 | 565 | 487 |
GAP | San Francisco | 833 | 1,204 | 1,102 | 967 | 867 |
Mattel | El Segundo | 769 | 685 | 529 | 380 | 600 |
Ross Stores | Pleasanton | 657 | 555 | 443 | 305 | 261 |
Clorox | Oakland | 543 | 287 | 526 | 472 | 382 |
Safeway | Pleasanton | 518 | 591 | (1,098) | 965 | 888 |
Avery Dennison | Pasadena | 154 | 242 | (835) | 153 | 172 |
McClatchy | Sacramento | 54 | 33 | 57 | 3 | (2,727) |
Century Aluminum | Monterey | 11 | 60 | (206) | (895) | (106) |
Standard Pacific | Irvine | (16) | (12) | (13) | (1,231) | (695) |
Shea Homes Limited Partnership | Walnut | (107) | (55) | (423) | (610) | (556) |
KB Home | Los Angeles | (179) | (69) | (102) | (976) | (1,415) |
Leap Wireless | San Diego | (318) | (785) | (238) | (143) | (76) |
Total all 18 Corps in Other Sectors | 19,626 | 18,013 | 13,476 | 13,136 | 10,021 | |
Total all 33 Non-Technology Corps | 79,090 | 61,033 | 46,370 | 48,998 | 47,090 | |
Annual Increase (Decrease) | ||||||
…..Amount | 18,057 | 14,663 | (2,628) | 1,908 | ||
…..Percentage | 30% | 32% | -5% | 4% | ||
Three Year Increase (2008-2011) Under Obama | ||||||
…..Amount | 30,092 | |||||
…..Percentage | 61% |