These 79 Largest New York Corps filing with the SEC generated Externally Audited US GAAP Total After-tax Net Income from Continuing Operations of a massive $169 bil in the most recent fiscal year 2011, which was a profit improvement of an off-the-charts $312 bil, as compared with the Total After-tax Net Loss of $143 bil generated by these same 79 New York companies just three years earlier in 2008, the last year of the Bush/Cheney Administration.
New York Largest Corp 2011 Earnings
Since corporate earnings drive stock prices, in this post I turn my attention to just how well the stock market prices of these New York Corps have performed since President Obama took office.
Of these 79 New York Corps, 70 of them had their common stock trading on both January 16, 2009, which is the last day stocks traded before President Obama took office, and also today, Tuesday, October 16, 2012.
I also excluded from these 70 both AIG and Citigroup because of their substantial help from the US Government, coupled with the very complex transactions making it difficult to get to the true meaningful stock price increases. That brings it down to 68 New York Largest Corps.
I retrieved all of the below stock market closing price information from the excellent Big Charts.com website.
These 68 New York Corps had an average stock market price increase of a very robust 166% since President Obama took office on January 20, 2009. This is more than double the increase in both the S&P 500 Index, which increased by 71%, and the increase in the Dow Industrials Index, which increased by 64%, both during the same time span.
All citizens in the State of New York and also outside of New York but in the New York City Metropolitan Area, especially New Jersey and Connecticut, have to be extremely happy with the stock market performance of their many fine New York companies during the Obama Administration.
And New York State and New York City Metropolitan citizens living outside of New York also must be very pleased with how the Obama Administration worked so hard and very effectively on so many fronts to create a US economic environment that permitted these New York companies to flat out flourish. This highly successful effort created a robust US economic environment which was quite a change from what existed in the just horrible financial meltdown, near Depression year of 2008. And particularly here, the work by the Obama Administration in rescuing New York's Big Financial Industry, which was clearly headed for complete economic collapse, was near miraculous.
When I think of the Obama Administration, the thought that comes top of mind to me is widespread competence, all throughout the upper ranks of the US government. But frankly, it's also pretty clear to me that the Obama Administration is just not very good at selling its many significant accomplishments, particularly on the economic front.
The 35 Non-Financial New York Corps, led by Sirius XM Radio, have an average stock price increase of an exceptional 198% during the Obama Administration so far.
The 33 Financial New York Corps have an average stock price increase of a very robust 131%.
Below here are the common stock market closing prices of each of these 68 New York Largest companies at both the most recent date, and also at the date just before President Obama took office, as well as the percentage stock market price changes for this period of time.
| Market | Market | Percentage | |
| Price | Price | Increase | |
| 10-16-12 | 1-16-09 | (Decrease) | |
| S&P 500 Index | 1,454.92 | 850.12 | 71% |
| Dow Industrials Index | 13,551.78 | 8,281.22 | 64% |
| New York Largest Corps | |||
| Financial Corps | |||
| Newcastle Investment | $7.75 | $0.75 | 933% |
| XL Group | $25.23 | $3.18 | 693% |
| SL Green Realty | $78.60 | $16.29 | 383% |
| iStar Financial | $8.46 | $2.19 | 286% |
| MasterCard | $479.01 | $128.22 | 274% |
| American Express | $58.63 | $17.01 | 245% |
| Fortress Investment Group | $4.23 | $1.50 | 182% |
| MBIA | $11.00 | $4.10 | 168% |
| M&T Bank | $97.39 | $39.93 | 144% |
| Moodys | $45.50 | $21.39 | 113% |
| Arch Capital Group | $44.24 | $22.73 | 95% |
| Gramercy Capital | $2.80 | $1.45 | 93% |
| JPMorgan Chase | $42.83 | $22.82 | 88% |
| Primus Guaranty | $47.70 | $25.65 | 86% |
| Goldman Sachs | $123.22 | $73.05 | 69% |
| BlackRock | $189.97 | $117.16 | 62% |
| Marsh & McLennan | $34.85 | $21.85 | 59% |
| Northstar Realty Finance | $6.41 | $4.06 | 58% |
| Everest Re Group | $112.32 | $73.84 | 52% |
| Vornado Realty | $79.30 | $53.49 | 48% |
| Assurant | $40.51 | $28.53 | 42% |
| Assured Guaranty | $14.09 | $9.95 | 42% |
| MetLife | $36.35 | $28.44 | 28% |
| Icahn Enterprises | $42.90 | $36.36 | 18% |
| Jefferies Group | $14.77 | $12.54 | 18% |
| Morgan Stanley | $17.87 | $15.59 | 15% |
| NY Community Bancorp | $14.24 | $12.47 | 14% |
| Nasdaq OMX Group | $24.08 | $21.17 | 14% |
| Capital Trust | $3.53 | $3.14 | 12% |
| NYSE Euronext | $24.47 | $22.23 | 10% |
| Bank NY Mellon | $23.56 | $22.96 | 3% |
| Annaly Capital Management | $15.72 | $15.35 | 2% |
| ETrade Financial | $9.22 | $11.40 | -19% |
| Average Increase: All 33 Largest New York Financial Corps | 131% | ||
| Non-Financial Corps | |||
| Sirius XM Radio | $2.84 | $0.11 | 2424% |
| Estee Lauder | $64.96 | $13.06 | 398% |
| CBS | $34.07 | $7.20 | 373% |
| Loral Space & Communications | $72.30 | $15.80 | 358% |
| Fifth & Pacific Companies | $10.64 | $2.46 | 333% |
| Ralph Lauren | $163.84 | $41.13 | 298% |
| IAC/InterActiveCorp | $55.00 | $15.14 | 263% |
| Coach | $56.21 | $17.00 | 231% |
| Viacom | $55.72 | $17.68 | 215% |
| News Corp | $24.77 | $8.02 | 209% |
| Jones Group | $13.65 | $4.43 | 208% |
| Interpublic Group | $11.33 | $3.83 | 196% |
| McGraw-Hill | $56.09 | $21.44 | 162% |
| IBM | $211.00 | $84.92 | 148% |
| Constellation Brands | $35.78 | $15.21 | 135% |
| Phillip Morris Intl | $92.52 | $42.12 | 120% |
| Omnicom Group | $50.73 | $26.62 | 91% |
| Arrow Electronics | $34.14 | $19.29 | 77% |
| Time Warner Cable | $98.66 | $56.31 | 75% |
| Colgate Palmolive | $108.59 | $63.54 | 71% |
| Verizon | $44.08 | $26.17 | 68% |
| Loews | $42.10 | $25.09 | 68% |
| Bunge Ltd | $70.26 | $43.83 | 60% |
| Time Warner | $45.29 | $28.83 | 57% |
| Bristol Myers Squibb | $34.13 | $22.07 | 55% |
| Pfizer | $25.80 | $17.50 | 47% |
| CA | $25.38 | $18.00 | 41% |
| Corning | $13.56 | $9.70 | 40% |
| Forest Labs | $35.43 | $25.76 | 38% |
| PepsiCo | $70.30 | $51.37 | 37% |
| Paychex | $32.97 | $25.43 | 30% |
| Leucadia National | $22.44 | $18.58 | 21% |
| Hess | $54.99 | $52.98 | 4% |
| L-3 Communications | $73.65 | $75.50 | -2% |
| Avon Products | $17.14 | $20.25 | -15% |
| Average Increase: All 35 Largest New York Non-Financial Corps | 198% | ||
| Average Increase: All 68 Largest New York Corps | 166% | ||
| S&P 500 Index | 1,454.92 | 850.12 | 71% |
| Dow Industrials Index | 13,551.78 | 8,281.22 | 64% |
It should be pointed out that the above earlier period stock prices of E Trade Financial has been adjusted to reflect the effect of a one-for-ten reverse stock split, and of both Time Warner and Time Warner Cable have each been adjusted for a one-for-three reverse stock split.
