Thursday, June 22, 2017

In TrumpCare, Kentucky US Senator Mitch "Humana" McConnell Is Simply Doing What Humana Wants Done

Kentucky is Headquarters to 10 Companies with Stock Market Capitalizations above $1 Bil.

Here are the most recent first quarter 2017 and 2016 earnings for each of these 10 largest Kentucky Publicly-held Companies.

1Q 17 1Q 17

2017 2016

Quarter Quarter

Calendar US GAAP US GAAP Net Net

1Q 17 Net Net Income Income
Kentucky Company  City State Recent
Month Income Income Better Better
Market Caps Above $1 Bil HQs HQs FYE
End (Loss) (Loss) (Worse) (Worse)

 $ mils  $ mils  $ mils %

Humana Louisville KY Dec16
Mar            1,115               254             861 339%

All But Humana

Yum! Brands Louisville KY Dec16
Mar               280               226               54 24%
Brown Forman Louisville KY Apr17
Apr               144               522            (378) -72%
Ashland Global Holdings Covington KY Dec16
Mar               102                 87               15 17%
Valvoline Lexington KY Sep16
Mar                 71                 68                 3 4%
Texas Roadhouse Inc Louisville KY Dec16
Mar                 36                 37                (1) -3%
Tempur Sealy Intl Lexington KY Dec16
Mar                 32                 39                (7) -18%
Papa John's Intl Inc Louisville KY Dec16
Mar                 30                 28                 2 7%
Stock Yards Bancorp Inc Louisville KY Dec16
Mar                 11                 10                 1 10%
Churchill Downs Louisville KY Dec16
Mar                   7                   3                 4 133%

Total all 9 But Humana

             713          1,020            (307) -30%

Total all 10

         1,828          1,274             554 43%

When you want to understand how Mitch McConnell legislates, you follow the money.

Mitch McConnell's Close Ties To Humana's Founder

Three of Top 5 Contributors To Mitch McConnell Are Health Care Companies

In McConnell's case, Louisville, Kentucky-based Health Insurer Humana generated most-recent First Quarter 2017 Earnings of $1.115 Bil, which was 61% of the First Quarter 2017 Total Earnings of Kentucky's 10 largest Companies.

Also, Humana's First Quarter 2017 Earnings increased by 339% over the First Quarter 2016.

How did Kentucky's other 9 largest Companies perform in the most recent First Quarter 2017?

Well, their Total Earnings Declined by 30%.  And all 9 of them are very fine Companies.  I have to wonder what McConnell is doing to help the earnings of these 9 Kentucky Companies?

In nearly his entire career in the US Congress, Health Insurer Humana has dominated McConnell's thinking, thus his richly earned "Humana" nickname.

Interestingly under the McConnell US Senate version of Trumpcare, the huge economic benefits received by Humana from the much higher Insurance Premium Revenues and by the massive Income Tax cuts effective January 1, 2017 (yeah, retroactively) that both Humana and their top executives would receive are paid for by the massive reduction in Medicaid health care benefits of Kentucky's many poor.  It's that simple.  Robin Hood in Reverse!