Included in these 39 Largest Michigan Corps are 14 in the Auto Industry.
The 14 Michigan Corps in the Auto Industry generated Audited US GAAP Total After-tax Net Income of $34 bil in 2011, which was an incredibly massive $103 bil profit improvement from the Total After-tax Net Loss of $69 bil of these same 14 companies reported three years earlier in 2008, the last year of the Bush/Cheney Presidential term.
And the Michigan Corps not in the Auto Industry also did just fine on the earnings front in the more recent years.
Michigan Corp 2011 Earnings
Since corporate earnings drive stock prices, in this post I turn my attention to just how well the stock market prices of these Michigan Corps have performed since President Obama took office.
Of these 39 Michigan Corps, 27 of them had their common stock trading on both January 16, 2009, which is the last day stocks traded before President Obama took office, and also on yesterday's date, Wednesday, October 10, 2012.
I retrieved all of the below stock market closing price information from the excellent Big Charts.com website.
These 27 Michigan Corps had an average stock market price increase of an off-the-charts 344% since President Obama took office on January 20, 2009. This is far better than the increase in both the S&P 500 Index, which increased by 69%, and the Dow Industrials Index, which increased by 61%, both during the identical time span.
So what this means in simplistic terms is that if you invested the same amount of money.....say $1,000.....in the common stock of each of these 27 Michigan companies at the closing market price on January 16, 2009, this would have cost you initially $27,000, ignoring any transaction costs, and this stock portfolio would now be worth $119,880. Whew!
Of these 27 Michigan Corps, only 7 of them were in the Auto Industry. The low number here is due mainly to some of them previously being bankrupt and thus not having common stock that traded at the earlier date. But the 7 included had a nosebleed average stock market price increase of 430% since President Obama took office.
The even more incredible thing to me is that the other 20 Michigan Corps not in the Auto Industry had their average stock market price increase by an off-the-charts 314% since President Obama took office.
Michigan citizens have to be extremely happy with the stock market performance of their many fine Michigan companies during the Obama Administration.
And Michigan citizens also must be very pleased with how the Obama Administration worked so hard and very effectively on so many fronts to create a US economic environment that permitted these Michigan companies, both auto and non-auto ones, to flat out flourish. This highly successful effort created a robust US economic environment which was quite a change from what existed in the horrible financial meltdown, near Depression year of 2008.
When I think of the Obama Administration, the thought that comes top of mind is whole-scale competence. But frankly, it's also pretty clear to me that the Obama Administration is just not very good at selling its many accomplishments, particularly on the economic front. After all, playing a very helpful role in turning a stock portfolio of 27 Michigan companies from $27,000 to $119,880 in only 3 3/4 years is clearly something you want to write home about. And it clearly wasn't due just to the very successful Auto Rescue, since 20 of these Michigan companies are not in the auto industry.
Below here are the common stock market closing prices of each of these 27 Michigan companies at both yesterday's date, and also at the date just before President Obama took office, as well as the percentage stock market price changes for this period of time.
| Market | Market | Percentage | ||
| Michigan | Price | Price | Increase | |
| HQs | 10-10-12 | 1-16-09 | (Decrease) | |
| S&P 500 Index | 1,432.56 | 850.12 | 69% | |
| Dow Industrials Index | 13,344.97 | 8,281.22 | 61% | |
| Companies Headquartered in Michigan | ||||
| Auto Industry | ||||
| TRW Automotive | Livonia | $47.15 | $3.86 | 1122% |
| American Axle | Detroit | $11.98 | $1.41 | 750% |
| Ford Motor | Dearborn | $9.98 | $2.19 | 356% |
| Penske Automotive | Bloomfield Hills | $31.13 | $7.43 | 319% |
| Borg Warner | Auburn Hills | $66.81 | $18.89 | 254% |
| Federal Mogul | Southfield | $9.50 | $4.30 | 121% |
| Gentex | Zeeland | $16.80 | $8.79 | 91% |
| Average Increase: all 7 Auto Corps | 430% | |||
| Non-Auto Sectors | ||||
| Trimas | Bloomfield Hills | $24.17 | $1.29 | 1774% |
| Valassis Communications | Livonia | $25.90 | $1.43 | 1711% |
| LA-Z-BOY | Monroe | $15.33 | $1.65 | 829% |
| Dominos Pizza | Ann Arbor | $37.31 | $6.22 | 500% |
| Credit Acceptance | Southfield | $84.20 | $18.17 | 363% |
| Perrigo | Allegan | $117.14 | $29.48 | 297% |
| Syntel | Troy | $61.49 | $26.37 | 133% |
| Steelcase | Grand Rapids | $10.33 | $4.65 | 122% |
| Wolverwine WW | Rockford | $43.41 | $19.55 | 122% |
| Whirlpool | Benton Harbor | $84.10 | $39.84 | 111% |
| Dow Chemical | Midland | $28.08 | $15.03 | 87% |
| Herman Miller | Zeeland | $19.53 | $12.33 | 58% |
| PulteGroup | Bloomfield Hills | $15.89 | $11.15 | 43% |
| Masco | Taylor | $14.32 | $10.36 | 38% |
| Compuware | Detroit | $9.36 | $6.91 | 35% |
| Stryker | Kalamazoo | $52.22 | $41.02 | 27% |
| Con-way | Ann Arbor | $27.91 | $22.62 | 23% |
| Kellogg | Battle Creek | $51.43 | $44.63 | 15% |
| Kelly Services | Troy | $12.96 | $11.67 | 11% |
| Citizens Republic Bancorp | Flint | $19.39 | $22.10 | -12% |
| Average Increase: all 20 Non-Auto Corps | 314% | |||
| Average Increase: all 27 Michigan Corps | 344% | |||
| S&P 500 Index | 1,432.56 | 850.12 | 69% | |
| Dow Industrials Index | 13,344.97 | 8,281.22 | 61% |
It should be pointed out that the above earlier period stock price of Citizen's Republic Bancorp has been adjusted to reflect the effect of a one-for-ten reverse stock split.
OK, so that now is five of the US Battleground States down, and a handful yet to go. So let's see.....here's the average stock market price increases during the Obama Administration for these five states.....Ohio Corps up 161%, Florida Corps up 137%, Virginia Corps up 97%, Colorado Corps up 179%, and now Michigan blowing them all away by being up 344%. And all five states had average stock market price increases that were substantially higher than the overall stock market increases for the same time frame. Next up.....Nevada.
