Monday, October 1, 2018

Tennessee Companies Earnings Were Robust During the 8 Years (2003-2010) That Phil Bredesen was Tennessee Governor Despite the US Financial Meltdown in 2008 .......................................................................................

Phil Bredesen served as the Governor of Tennessee from 2003 to 2010.

From a review of SEC files, there were 36 Tennessee Companies which filed their annual financial statements consecutively from 2002 to 2010 and which have stock markets caps of above $1 Bil or which were sold for more than $1 Bil subsequent to 2010.

Despite the horrific 2008 US Financial Meltdown, these 36 Tennessee Companies generated Audited US GAAP Total Pretax Income From Continuing Operations of $11.662 Bil in Fiscal Year Ended 2010, which was Bredesen’s last year as Tennessee Governor, an increase of 71% from that in 2002 of $6.816 Bil, the year before Bredesen started his two terms as Tennessee Governor.

In 2009, Tennessee Companies were able to recover 95% of their Total Earnings Lost in the 2008 US Financial Meltdown Year.

From a review of SEC filings, the chart below shows the Audited Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for FYEs years 2010, 2009. 2008, 2007 and 2002 for these fine 36 Tennessee Companies.
2010 2009 2008 2007 2002
Audited Audited Audited Audited Audited
Pretax Pretax Pretax Pretax Pretax
Tennessee Companies City Income Income Income Income Income
Stock Market Caps or Sold For > $1 Bil HQs 2010 (Loss) (Loss) (Loss) (Loss) (Loss)
FYE  $ mils  $ mils  $ mils  $ mils  $ mils
FedEx Memphis TN May 11       2,265       1,894          677       2,016       1,338
HCA Healthcare Nashville TN Dec 10       2,231       2,002       1,170       1,398       1,603
Unum Group Chattanooga TN Dec 10       1,331       1,292          824          997          593
AutoZone Memphis TN Aug 10       1,161       1,034       1,007          936          691
Dollar General Goodlettsville TN Jan 11          985          552          194            (3)          415
International Paper Memphis TN Dec 10          886       1,150     (1,104)       1,654          371
Eastman Chemical Kingsport TN Dec 10          636          254          461          470            84
HealthSpring Franklin TN Dec 10          309          210          186          135            10
Tractor Supply Brentwood TN Dec 10          265          190          176          160            61
CoreCivic Nashville TN Dec 10          252          231          234          203              7
Life Point Health Brentwood TN Dec 10          241          222          209          202            76
Amsurg Nashville TN Dec 10          216          214          198          169            40
Thomas & Betts Memphis TN Dec 10          185          140          418          264            (2)
CLARCOR Franklin TN Nov 10          143          106          145          131            71
Regal Entertainment Group Knoxville TN Dec 10          126          157          186          602          207
Mueller Industries Memphis TN Dec 10          122            23          121          184            88
Cracker Barrel Lebanon TN Jul 10          116            90            94          116          143
Buckeye Technologies Memphis TN Jun 11          116          126          (52)            67          (42)
National Healthcare Murfreesboro TN Dec 10            81            68            53            72            27
Tivity Health Franklin TN Dec 10            78            21            93            75            18
National Health Investors Murfreesboro TN Dec 10            62            57            51            76            26
Forward Air Corp Greeneville TN Dec 10            53            18            69            72            34
First Horizon National Memphis TN Dec 10            49        (421)        (329)        (294)          558
Astec Industries Chattanooga TN Dec 10            49            11            98            88            (7)
Team Health  Knoxville TN Dec 10            40            59            70            68            30
Mid America Apartment Comm Germantown TN Dec 10            31            33            31            33            16
Wright Medical Group Memphis TN Dec 10            31            16            22              2            26
Vanguard Health Systems Nashville TN Jun 11              6          (58)            49              6            28
Healthcare Realty Trust Nashville TN Dec 10              4            25            15            11            39
Education Realty Trust Memphis TN Dec 10          (16)            (4)            (8)            (8)              0
ServiceMaster Global Memphis TN Dec 10          (20)            10        (160)            (8)          222
Pinnacle Financial Partners Nashville TN Dec 10          (20)          (65)            43            33              1
Louisiana-Pacific Nashville TN Dec 10          (54)        (180)        (765)        (289)            12
Brookdale Senior Living Brentwood TN Dec 10          (80)          (99)        (460)        (264)            20
Delek US Holdings Brentwood TN Dec 10          (85)              5            43          131            (1)
Ryman Hospitality Properties Nashville TN Dec 10        (133)            17              5          165            13
Total all 36 Tennessee Companies     11,662       9,400       4,064       9,670       6,816
Pretax Income Change vs Preceding Year
………. Amount in $ mils
       2,262       5,336     (5,606)
………. % Change
 24% 131% -58%
Pretax Income % Increase 2010 vs 2002
 71%
Pretax Income % Increase 2010 vs 2008
 187%



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