I found 8 Companies Headquartered in Rhode Island in Google or Yahoo's superb Finance websites with current Total Stock Market Capitalizations of at least $100 mil and which also had their common stocks trading on each of the following three dates:
- On December 31, 2007 during President Bush's second term.....before the 2008 financial meltdown
- On March 6, 2009, very early in President Obama's first term, which was the lowest point for the US stock market due to the spillover effects resulting from the 2008 financial meltdown, and
- also on the most recent date August 27, 2014
The historical stock prices of these companies were obtained from the following two excellent internet resources.... Google Finance and MarketWatch Big Charts.
These 9 Rhode Island Companies had their equally-company-weighted average stock market prices decline by a massive 60% from December 31, 2007 during President Bush's second Presidential term, to March 6, 2009, very early in President Obama's first term, which was the very lowest point for the overall stock market due to the spillover effects resulting from the disastrous 2008 Financial Meltdown.
But in the five years and six months since March 6, 2009 through August 27, 2014, the equally-company-weighted average stock market prices of these same 9 Rhode Island Companies have increased by an off-the-charts 643%. All 9 Rhode Island Companies had their stock market prices more than double in the most recent five and a half years, with the lowest increase being a very robust 137%.
Thus in the six years and eight months from December 31, 2007 before the 2008 financial meltdown to the most recent date August 27 2014, the equally-company-weighted average stock market prices of these same 9 Rhode Island Companies have increased by 57%...... yeah, they have not just recouped what they lost with the 2008 financial meltdown, but also added another 57%.
Below here are the stock market prices of each of these 9 Rhode Island Companies on August 27, 2014, on March 6, 2009, and on December 31, 2007, along with the related Stock Market Price Percentage Changes:
|Rhode Island Company||OBAMA|
|United Natural Foods||Providence||RI||65.11||14.48||31.72||350%||-54%||105%|
|Washington Trust Bancorp||Westerly||RI||35.13||12.13||25.23||190%||-52%||39%|
|Average % Change all 9 Rhode Island Companies||643%||-60%||57%|
On the employment front, from the US Bureau of Labor Statistics, the seasonally adjusted unemployment rate of Rhode Island nearly doubled from 6.0% in December 2007 to 11.7% in October 2009, early in President Obama's first term which was the very lowest point for the US Labor Market due to the spillover effects resulting from the disastrous 2008 Financial Meltdown.
And then with the US economic stimulating actions of the Obama Administration taking full effect, coupled with the Quantitative Easing by the US Fed, the Rhode Island Unemployment Rate declined sharply from 11.7% in October 2009 to 7.7% in the most recently reported July 2014.
Rhode Island Citizens and the many out-of-State vacationers to Rhode Island must be very pleased with both the outstanding performance of all of the Rhode Island Companies as well as the substantial drop in the Rhode Island Unemployment Rate during the Obama Administration.