Friday, February 28, 2020

Smaller North Carolina Companies Total Pretax Income Down the Tubes in 2019 ..... Four Quarters 2019 Combined Total Pretax Income Declined By a Huge 66% From the Four Quarters 2018 Combined ..... Second Half of 2019 Total Pretax Income Declined By 74% From the Second Half of 2018 ..... And the First Half of 2019 Total Pretax Income Declined By 51% From the First Half of 2018.

There were 17 North Carolina Companies with stock market caps of between $2 bil and $1o bil in the fourth quarter of 2019.  

From a review of SEC filings, below are the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for these 17 smaller North Carolina Companies in each of the four quarters of both 2019 and 2018.


US US US US US US US US
GAAP GAAP GAAP GAAP GAAP GAAP GAAP GAAP
Pretax Pretax Pretax Pretax Pretax Pretax Pretax Pretax
Income Income Income Income Income Income Income Income
(Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)
Dec Dec Sept Sept June June March March
North Carolina Smaller Companies Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter
Market Caps $2 Bil to $10 Bil 2019 2018 2019 2018 2019 2018 2019 2018
mils $ mils $ mils $ mils $ mils $ mils $ mils $ mils $
Hanesbrands Winston-Salem          195          190          219          197          179          165            93            95
Premier Inc Charlotte          156          109            81            95            78          103            85            90
Sealed Air Charlotte          136          119          102          109            38          117            95          114
First Citizens Bancshares Raleigh          132          116          160          134          156          123          145          131
Curtiss-Wright Davidson          119          106          104            93          104            96            70            61
PRA Health Sciences Raleigh            81            83            86            22            41            42            72            57
Albemarle Charlotte            78          130          164          155          167          372          154          139
Highwoods Properties Raleigh            62            55            30            35            41            53              8            34
SPX Corp Charlotte            31            35            24              9            24            20              5            17
Extended Stay America Charlotte            25            46            64            91            71            80            35            37
JELD-WEN Holding Charlotte            20            41            40            (3)            35            57            27            36
Syneos Health Morrisville            18            60            70              2            34            30          (20)          (34)
SPX FLOW Charlotte            17            10            20            36            23            23            31            16
LendingTree Charlotte              5            (2)            26            18              7            15            (7)            12
Cree Inc Durham          (51)              4          (37)              1          (31)          (12)          (20)          (16)
CommScope Holdings Hickory        (494)          (44)        (208)            66        (372)          103            (1)            46
Brighthouse Financial Charlotte     (1,372)       1,787          804        (368)          469        (317)        (953)        (113)
Total all 17 Companies        (842)       2,845       1,749          692       1,064       1,070        (181)          722
-130% 153% -1% -125%
Pretax Income Four Quarters 2019                1,790
Pretax Income Four Quarters 2018                5,329
….. % Change From Prior Year Period -66%
Second Half 2019                   907
Second Half 2018                3,537
….. % Change From Prior Year Period -74%
First Half 2019                   883
First Half 2018                1,792
….. % Change From Prior Year Period -51%

Such horrific pretax earnings in 2019, coupled with the huge CoronaVirus Losses which will start hitting the books in 2020, signals future very unhealthy pay raises for the many already underpaid North Carolina non-executive employees.

North Carolina Company non-executive workers really have had the deck stacked against them for decades versus what is going on with the sky-high annual percentage pay and employee benefit raises of their Companies' Top-Tier Executives.


So which 2020 Democratic Presidential candidate could best help close this massive annual percentage pay raise gap between North Carolina Company Top-Tier executives and their already massively underpaid, hardworking North Carolina non-executive employees?

More than anything needed to solve this thorny problem is to possess exceptionally strong financial and data science skills, coupled with a keen understanding of how businesses operate.  And you also must have a high degree of  economic fairness. 

Joe Biden, Bernie Sanders, Elizabeth Warren and Amy Klobuchar all have little if any financial acumen, no data science understanding and little if any understanding of how businesses operate in this fast-changing world.

Further, all four of them worked for the US Government, particularly in the past ten years, when these comparative pay raise results of Top-Tier Executives and non-executive employees were so horrendous, not just in North Carolina but also in every other US State.  

On the positive side, all four of them have a high degree of economic fairness.

Michael Bloomberg has both the financial acumen and the understanding of how businesses operate.  

But he has no data science expertise. 

Also and most important of all, Bloomberg has a low degree of economic fairness.  

In the many years he was accumulating his wealth of $60+ bil, US income inequality expanded dramatically in each year by leaps and bounds.  

So, like many US business tycoons with their sole fixation on maximization of Company profits, Bloomberg accumulated his massive wealth on the backs of the declining US middle class and growing number of people dropped to the lower economic class.  

And while he was accumulating his massive amount of wealth, Bloomberg was strongly anti-union.

And by his punitively racial "Stop and Frisk" policy, many New York City people of color were singled out and physically thrown against the wall.

I think there is only one Democratic Presidential candidate who has the requisite financial acumen, data science skills, understanding of how business operate and economic fairness to help turn the tide around on this massive, continuing US income inequality expansion caused mainly by the massive gap in annual percentage pay raises between executive and non-executive employees  ....Pete Buttigieg.

On another matter, the very recent Nevada election caucus counts seem very strange to me.

I suggest that it is mathematically impossible for Pete Buttigieg to get a 17.3% Final Vote, which is already after the voter redistribution for the 15% threshold effect, which miraculously dropped down by 17% to only 14.3% in the Nevada County Convention Delegate Vote without some unfair actions to have occurred.

It is even more mathematically impossible for Amy Klobuchar to get a 7.3% Final Vote which dropped down by an amazing 42% to only 4.3% in the Nevada County Convention Delegate Vote without some unfair actions to have occurred.

So, Joe Biden got a Not First Vote but Final Vote of 18.9% in Nevada just edging out Pete Buttigieg's Not First Vote but Final Vote of 17.3%.  But unlike Pete's 17% dramatic drop in the Nevada County Convention Delegate Vote, for some strange reason Biden's Nevada County Convention Vote increased by 7%.

End result, Biden got 9 delegates and Pete only got 3 delegates, even though Biden got a final vote  of 18.9% and barely edged Pete's final vote of 17.3%.  

What you have here is massive vote count corruption in the Nevada Democratic establishment in favor of Democratic establishment candidate Joe Biden.  And the Democratic establishment is asserting that Russia is subverting the US election when it's a drop in the bucket as compared to how the US State Democratic establishments including Nevada are corrupting the vote count?

And all of the Nevada election workers have to sign Non Disclosure Agreements to work there.  I now understand why.

This is why many people have so little trust in the Democratic Party establishment and now realize that the deck is stacked against any Democratic Presidential candidate other than Joe Biden and thus it only makes sense that some of them will probably react by not voting for Democratic establishment candidate Joe Biden in South Carolina and in the Super Tuesday US States.

And for someone to loudly assert many times during the South Carolina primary, where 67% of the voters are black, that he was arrested for Nelson Mandela like Joe Biden did when he actually didn't get arrested for Nelson Mandela, it reveals that Joe Biden is either an opportunistic liar or senile and either way, he has no business being US President.