This is becoming a familiar phenomenon.
I have a business degree with an accounting major. I only say that because in 2011 I had an assignment to review any major corporation's 10K statement. I chose Smith and Wesson.
I analyzed their balance sheets from 2006 through 2010. A good barometer of a corporation's liquidity is Cash and Cash Equivalents. (The figures are in millions of dollars.) In 2006, S&W C&CE totaled $731,000. That’s not good for a corporation the size of S&W.
Heading into the election in 2007, (the panic was already starting) and their C&CE jumped to $4,065,000. In 2008 it increased to $4,359,000.
Get this, in 2009, C&CE skyrocketed to $39,822,000. That's a monster increase. That figure remained roughly the same for 2010.
Smith and Wesson executives actually admitted that the improvement in their financial position was 100% attributable to Obama.
(S&W 10K report of 2011, page 20, item 1A filed on 6/30/2011).
[Begin quote]
Political and other factors also can affect our performance. For example, we experienced strong consumer demand for our handguns and modern sporting rifle products beginning in our third fiscal quarter ended January 31, 2009, following a new administration taking office in Washington, D.C., speculation surrounding increased gun control……. [End quote]
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