These 10 Largest South Carolina Corps filing with the SEC generated Externally Audited US GAAP Total After-tax Net Income from Continuing Operations of $651 mil in the most recent fiscal year 2011, which was an off-the-charts 379% profit increase as compared with the Total After-tax Net Income of $136 mil generated by these same 10 South Carolina companies just three years earlier in 2008, the last year of the Bush/Cheney Administration.
South Carolina 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 South Carolina Corps have performed since President Obama took office.
Of these 10 South Carolina Corps, only 6 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 on last Friday, October 19, 2012.
I retrieved all of the below stock market closing price information from the excellent Big Charts.com website.
These 6 South Carolina Corps had an average stock market price increase of 93% since President Obama took office on January 20, 2009. This is much higher than both the 69% increase in the S&P 500 Index and the 61% increase in the Dow Industrials Index, both during the same time span.
South Carolina citizens have to be very happy with the stock market performance of their many fine South Carolina companies during the Obama Administration.
And South Carolina citizens 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 South Carolina companies to 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.
So it's not just the Blue States and Swing States which have had very robust average stock market price increases during the Obama Administration. Corporations in all Red States, including South Carolina, have also been fortunate to experience these very nice average stock market price increases too. This just shows that the Obama Administration has been evenhanded in focusing on creating an excellent US economic environment that have permitted businesses all throughout the country to prosper.
Below here are the common stock market closing prices of each of these 6 South Carolina 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.
|S&P 500 Index||1,433.19||850.12||69%|
|Dow Industrials Index||13,343.51||8,281.22||61%|
|South Carolina Largest Corps|
|Average Increase: All 6 Largest South Carolina Corps||93%|