Sunday, September 23, 2012

Nevada Audited Corporate Net Income in 2011 Under Obama/Reid/Berkley Up $22.9 Bil Over 2008 Under Bush/Ensign/Heller

From an extensive review of SEC filings, I found 32 Corps headquartered in Nevada with Pretax Income or Pretax Loss of at least $10 mil in any of the most recent three fiscal years.

These 32 Largest Nevada Corps had Audited under US Generally Accepted Accounting Principles (US GAAP) Total After-tax Net Income of $10.2 bil in the most recent fiscal year 2011, when Harry Reid was a Democratic Nevada US Senator and Shelley Berkley was a Democratic Nevada US House member.  This was a massive earnings improvement of $22.9 bil as compared with the $12.7 bil Net Loss generated just three years earlier in 2008, the last year of the Bush/Cheney Administration, and also when John Ensign was a Republican Nevada US Senator and Dean Heller was a Republican Nevada US House member.

So if the question to be answered is whether, in the aggregate, these 32 Nevada Largest Corps are better off now than they were in the last year of the Bush/Cheney Administration, the answer is clearly yes, and substantially so to the tune of $22.9 bil better, as earnings performance is measured by the prestigious US Accounting Profession.

Clearly, the best combination for a US economy under much stress is a Moderate Democratic President, a Moderate Democratic US House, and a Moderate Democratic US Senate, all of whom are very willing to work across the aisle to achieve the overall best results for all US citizens.

Below here is the Audited under US GAAP After-tax Net Income or Net Loss for each of these 32 Largest Nevada Corps for each of the most recent four fiscal years.  The overwhelming majority of these Corporations have a December Fiscal Year End (FYE).




FYE FYE FYE FYE


2011 2010 2009 2008


Reported Reported Reported Reported


Audited Audited Audited Audited


After-Tax After-Tax After-Tax After-Tax


Net Income Net Income Net Income Net Income


(Loss) (Loss) (Loss) (Loss)

HQs mil $s mil $s mil $s mil $s
Nevada Corps
Corps With Major Reorganizations



Station Casinos Las Vegas 3,963 (657) (1,697) (3,292)
Riviera Holdings Las Vegas 64 (24) (25) (12)
Affinity Gaming Las Vegas 7 386 (60) (204)
Tropicana Entertainment Las Vegas (3) 4,372 (195) (3,133)






Remaining 28 Corps




MGM Resorts Las Vegas 3,235 (1,437) (1,292) (922)
Las Vegas Sands Las Vegas 1,883 782 (369) (168)
Wynn Resorts Las Vegas 825 317 39 210
John Deere Capital Reno 364 319 149 282
Intl Game Technology Las Vegas 292 220 149 336
Amerco Reno 205 184 66 13
PDL Biopharma Incline Village 199 92 190 238
Bally Technologies Las Vegas 101 98 110 120
Allegiant Travel Las Vegas 49 66 76 35
Spectrum Pharmaceuticals Henderson 49 (49) (20) (17)
Employers Holdings Reno 48 63 83 102
Allied Nevada Gold Reno 37 34 8 (80)
Shuffle Master Las Vegas 32 23 15 (15)
Pinnacle Entertainment Las Vegas 30 (41) (63) (206)
Full House Resorts Las Vegas 13 18 6 2
Diamond Resorts Las Vegas 10 (19) (21) (89)
Global Cash Access Holdings Las Vegas 9 18 34 27
Ameristar Casino Las Vegas 7 9 (5) (131)
Monarch Casino & Resort Reno 6 8 5 10
Vestin Realty Mortgage I Las Vegas (1) (3) (12) (22)
Vestin Realty Mortgage II Las Vegas (1) (17) (30) (130)
Livedeal Las Vegas (5) (9) (14) (1)
Cord Blood America Las Vegas (7) (8) (10) (7)
Boyd Gaming Las Vegas (8) 12 4 (223)
American Casino & Entertainment Properties Las Vegas (20) (37) (22) (37)
Altair Nanotechnologies Reno (20) (22) (20) (29)
CityCenter Holdings Las Vegas (502) (1,115) (522) (68)
Caesars Entertainment Las Vegas (667) (823) 846 (5,274)






Total Remaining 28 Largest Nevada Corps 6,163 (1,317) (620) (6,044)






Grand Total all 32 Largest Nevada Corps 10,194 2,760 (2,597) (12,685)






Three Year (2008-11) Increase Under Obama/Reid/Berkley


…..Amount
22,879