Clearly, the wholescale outstanding operating execution of US Companies is overwhelmingly the main cause of the off-the-charts earnings recovery from the horrible aftershocks of the 2008 financial meltdown.
However, I find it interesting that nearly half of the country gives the Obama Administration absolutely no credit for any role whatsoever in this nearly miraculous earnings recovery of the key US Broad-Based Manufacturing Industry after the aftershocks that resulted primarily from the 2008 financial meltdown, which occurred in 2008 during the George W. Bush/Dick Cheney Presidency.
From an exhaustive review of SEC filings including analysis of business descriptions, let me lay out the US Broad-Based Manufacturing audited Earnings numbers for companies with total stock market capitalizations now of between $3 bil and $10 bil and the reader can decide whether this position makes any sense.
I found 154 US Broad-Based Manufacturing Companies with current total stock market capitalizations of between $3 bil and $10 bil each.
The Total Audited Earnings From Continuing Operations for 2013 and 2012 Combined of these 154 US Broad-Based Manufacturing Companies were $63.1 bil, up an incredibly high $62.1 bil, or up a phenomenally off-the-charts 6,573% from the comparable Total Audited Earnings for 2009 and 2008 Combined of only a paltry $942 mil.....yeah, that's up more than 65 times.
Given the across-the-board phenomenal magnitude of these Audited Earnings Improvement numbers, I suggest that anyone who still asserts that the Obama Administration, with much help from both a Democratically controlled US Senate and the US Federal Reserve, had nothing whatsoever to do with this massive earnings improvement of the US Manufacturing Industry needs to take a remedial course in critical reasoning and financial analysis.
What I also find interesting is that by far the bulk of this $62.1 bil of Total Audited Earnings Improvement occurred in one year.....2010....., when the US House was also under Democratic control. And so the end result was that in November 2010, Democrats in the US Congress were crushed in the polls.....it's pretty clear to me that US voters don't always vote rationally.....in their best economic interests.
Below here are the Audited Earnings (Losses) Fron Continuing Operations of each of these 154 US Broad-Based Manufacturers with total stock market capitalizations now of between $3 bil and $10 bil each for each of the fiscal year ends 2013, 2012, 2011, 2009, 2008 and 2007:
| 2013 | 2012 | 2011 | 2009 | 2008 | 2007 | ||||
| Audited | Audited | Audited | Audited | Audited | Audited | ||||
| Most | Net | Net | Net | Net | Net | Net | |||
| US Broad-Based | City | Recent | Income | Income | Income | Income | Income | Income | |
| Manufacturing Companies | HQs | FYE | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | |
| mil $s | mil $s | mil $s | mil $s | mil $s | mil $s | ||||
| Celanese Corp | Irving | TX | Dec 13 | 1,101 | 376 | 426 | 484 | 371 | 337 |
| Visteon | Van Buren Township | MI | Dec 13 | 775 | 170 | 210 | 184 | (647) | (305) |
| Brunswick | Lake Forest | IL | Dec 13 | 775 | 147 | 91 | (586) | (788) | 80 |
| Rock-Tenn | Norcross | GA | Sep 13 | 733 | 252 | 146 | 222 | 82 | 82 |
| Ashland | Covington | KY | Sep 13 | 677 | 38 | 56 | 78 | 175 | 201 |
| Goodyear Tire & Rubber | Akron | OH | Dec 13 | 675 | 237 | 417 | (364) | (23) | 190 |
| WABCO Holdings | Piscataway | NJ | Dec 13 | 662 | 313 | 368 | 24 | 216 | 128 |
| Westlake Chemical | Houston | TX | Dec 13 | 610 | 386 | 259 | 53 | (30) | 115 |
| AGCO Corp | Duluth | GA | Dec 13 | 592 | 516 | 585 | 136 | 386 | 233 |
| Joy Global | Milwaukee | WI | Oct 13 | 534 | 767 | 631 | 455 | 373 | 280 |
| ITT | White Plains | NY | Dec 13 | 490 | 110 | (577) | (111) | 32 | 61 |
| Flowserve | Irving | TX | Dec 13 | 488 | 451 | 429 | 428 | 445 | 258 |
| FMC Corp | Philadelphia | PA | Dec 13 | 467 | 463 | 420 | 257 | 347 | 166 |
| Linear Technology | Milpitas | CA | Jun 14 | 460 | 407 | 398 | 361 | 289 | 367 |
| Lear Corporation | Southfield | MI | Dec 13 | 456 | 1,317 | 570 | (648) | (664) | 267 |
| NCR | Duluth | GA | Dec 13 | 456 | 475 | (98) | (30) | 230 | 171 |
| Waters Corp | Milford | MA | Dec 13 | 450 | 461 | 433 | 323 | 322 | 268 |
| Juniper Networks | Sunnyvale | CA | Dec 13 | 440 | 187 | 425 | 115 | 512 | 361 |
| Albemarle | Baton Rouge | LA | Dec 13 | 440 | 330 | 420 | 190 | 213 | 247 |
| Packaging Corp America | Lake Forest | IL | Dec 13 | 436 | 164 | 158 | 266 | 136 | 170 |
| Ball Corp | Broomfield | CO | Dec 13 | 435 | 429 | 469 | 388 | 320 | 282 |
| Crown Holdings | Philadelphia | PA | Dec 13 | 428 | 664 | 396 | 450 | 330 | 601 |
| Newell Rubbermaid | Atlanta | GA | Dec 13 | 420 | 392 | 187 | 285 | (50) | 482 |
| Energizer Holdings | St. Louis | MO | Sep 13 | 407 | 409 | 261 | 298 | 329 | 321 |
| Ingredion | Westchester | IL | Dec 13 | 403 | 434 | 423 | 47 | 275 | 203 |
| Microchip Technology | Chandler | AZ | May 14 | 395 | 127 | 337 | 217 | 246 | 297 |
| Trinity Industries | Dallas | TX | Dec 13 | 386 | 252 | 147 | (138) | 282 | 290 |
| Polaris Industries | Medina | MN | Dec 13 | 381 | 312 | 228 | 101 | 117 | 113 |
| Teredata | Dayton | OH | Dec 13 | 377 | 419 | 353 | 254 | 250 | 200 |
| Mohawk Industries | Calhoun | GA | Dec 13 | 367 | 251 | 178 | (1) | (1,452) | 714 |
| Flextronics | San Jose | CA | Mar 14 | 366 | 303 | 521 | 19 | (6,136) | (681) |
| B/E Aerospace | Wellington | FL | Dec 13 | 366 | 234 | 228 | 142 | (99) | 147 |
| Pall Corp | Port Washington | NY | Jul 14 | 364 | 330 | 281 | 241 | 196 | 217 |
| Snap-on | Kenosha | WI | Dec 13 | 360 | 315 | 284 | 144 | 244 | 194 |
| Maxim Integrated Products | San Jose | CA | Jun 14 | 355 | 452 | 355 | 125 | 10 | 318 |
| Intl. Flavors & Fragances | New York | NY | Dec 13 | 354 | 254 | 267 | 196 | 230 | 247 |
| First Solar | Tempe | AZ | Dec 13 | 353 | (96) | (39) | 640 | 348 | 158 |
| Airgas | Radnor | PA | Mar 14 | 351 | 341 | 313 | 196 | 261 | 223 |
| Babcock & Wilcox | Charlotte | NC | Dec 13 | 333 | 218 | 71 | 148 | 324 | 215 |
| Rayonier | Jacksonville | FL | Dec 13 | 332 | 271 | 277 | 313 | 149 | 174 |
| Hubbell | Shelton | CT | Dec 13 | 330 | 302 | 270 | 181 | 223 | 208 |
| Reliance Steel & Aluminum | Los Angeles | CA | Dec 13 | 325 | 408 | 349 | 149 | 484 | 408 |
| Masco Corp | Taylor | MI | Dec 13 | 323 | (18) | (352) | (102) | (327) | 539 |
| Pitney Bowes | Stamford | CT | Dec 13 | 320 | 414 | 456 | 453 | 468 | 380 |
| MeadWestvaco | Richmond | VA | Dec 13 | 319 | 156 | 181 | 225 | 80 | 266 |
| Oshkosh | Oshkosh | WI | Sep 13 | 316 | 246 | 291 | (1,172) | 287 | 285 |
| Marvell Technology | Santa Clara | CA | Jan 14 | 315 | 307 | 615 | 353 | 147 | (114) |
| Mettler-Toledo Intl | Columbus | OH | Dec 13 | 306 | 291 | 269 | 173 | 203 | 179 |
| RPM International | Medina | OH | May 14 | 306 | 110 | 234 | 181 | 120 | 44 |
| TransDigm Group | Cleveland | OH | Sep 13 | 303 | 325 | 152 | 163 | 133 | 89 |
| Westinghouse Air Brake Technologies | Wilmerding | PA | Dec 13 | 292 | 252 | 170 | 115 | 131 | 109 |
| Lincoln Electric | Cleveland | OH | Dec 13 | 292 | 257 | 217 | 49 | 212 | 203 |
| Valspar | Minneapolis | MN | Oct 13 | 289 | 292 | (139) | 160 | 151 | 172 |
| Valmont Industries | Valley | NE | Dec 13 | 280 | 239 | 237 | 154 | 136 | 97 |
| F5 Networks | Seattle | WA | Sep 13 | 277 | 275 | 241 | 92 | 74 | 77 |
| Tupperware Brands | Orlando | FL | Dec 13 | 274 | 193 | 218 | 175 | 161 | 117 |
| International Game Technology | Las Vegas | NV | Sep 13 | 273 | 250 | 292 | 149 | 342 | 508 |
| Timken | Canton | OH | Dec 13 | 263 | 496 | 457 | (66) | 283 | 211 |
| Dana Holding | Maumee | OH | Dec 13 | 261 | 315 | 240 | (436) | (959) | (423) |
| Donaldson | Minneapolis | MN | Jul 14 | 260 | 247 | 264 | 166 | 132 | 172 |
| WR Grace | Columbia | MD | Dec 13 | 258 | 41 | 219 | 81 | 137 | 113 |
| IDEX Corp | Lake Forest | IL | Dec 13 | 255 | 38 | 194 | 113 | 127 | 154 |
| Avery Dennison | Glendale | CA | Dec 13 | 244 | 158 | 142 | (747) | 266 | 304 |
| Molex | Lisle | IL | Jun 13 | 244 | 281 | 299 | (321) | 215 | 241 |
| NewMarket Corp | Richmond | VA | Dec 13 | 242 | 237 | 205 | 162 | 73 | 79 |
| Harmon Intl | Stamford | CT | Jun 14 | 235 | 142 | 330 | 40 | (422) | 96 |
| Carlisle | Charlotte | NC | Dec 13 | 235 | 229 | 172 | 152 | 114 | 221 |
| Xylem | Rye Brook | NY | Dec 13 | 228 | 297 | 279 | 263 | 224 | 219 |
| Gentex | Zeeland | MI | Dec 13 | 223 | 169 | 165 | 65 | 62 | 122 |
| Tenneco | Lake Forest | IL | Dec 13 | 222 | 304 | 183 | (54) | (405) | 5 |
| Nordson | Westlake | OH | Oct 13 | 222 | 225 | 222 | (160) | 118 | 91 |
| Crane | Stamford | CT | Dec 13 | 221 | 196 | 23 | 134 | 135 | (62) |
| Sonoco Products | Hartsville | SC | Dec 13 | 220 | 196 | 218 | 155 | 157 | 212 |
| Trimble Navigation | Sunnyvale | CA | Dec 13 | 218 | 190 | 149 | 64 | 141 | 117 |
| Owens-Illinois | Perrysburg | OH | Dec 13 | 215 | 220 | (481) | 198 | 322 | 359 |
| Plum Creek Timber | Seattle | WA | Dec 13 | 214 | 203 | 193 | 236 | 233 | 280 |
| Bemis | Neenah | WI | Dec 13 | 213 | 174 | 187 | 153 | 172 | 185 |
| Graco | Minneapolis | MN | Dec 13 | 211 | 149 | 142 | 49 | 121 | 153 |
| Colfax | Annapolis Junction | MD | Dec 13 | 209 | (42) | 5 | 22 | (1) | 65 |
| Brocade Communication Systems | San Jose | CA | Oct 13 | 209 | 195 | 51 | (77) | 167 | 77 |
| Triumph Group | Berwyn | PA | Mar 14 | 206 | 297 | 282 | 85 | 93 | 72 |
| Owens Corning | Toledo | OH | Dec 13 | 205 | (16) | 281 | 67 | (811) | 29 |
| Terex | Westport | CT | Dec 13 | 204 | 75 | 20 | (450) | (70) | 534 |
| Jarden Corp | Boca Raton | FL | Dec 13 | 204 | 244 | 205 | 129 | (59) | 28 |
| SPX Corp | Charlotte | NC | Dec 13 | 201 | (177) | 133 | 48 | 259 | 291 |
| Leggett & Platt | Carthage | MO | Dec 13 | 193 | 243 | 174 | 121 | 128 | 65 |
| Dolby Laboratories | San Francisco | CA | Sep 13 | 190 | 265 | 311 | 144 | 201 | 244 |
| Sensata Technologies | Attleboro | MA | Dec 13 | 188 | 177 | 6 | (27) | (114) | (234) |
| Hexcel | Stamford | CT | Dec 13 | 188 | 164 | 136 | 56 | 111 | 63 |
| Teledyne Technologies | Thousand Oaks | CA | Dec 13 | 185 | 163 | 142 | 114 | 114 | 102 |
| Silgan Holdings | Stamford | CT | Dec 13 | 185 | 151 | 193 | 159 | 125 | 127 |
| MICROS Systems | Columbia | MD | Jun 14 | 182 | 172 | 167 | 115 | 98 | 102 |
| Lennox International | Richardson | TX | Dec 13 | 180 | 135 | 112 | 62 | 124 | 166 |
| FLIR System | Wilsonville | OR | Dec 13 | 177 | 225 | 223 | 230 | 201 | 134 |
| Generac Holdings | Waukesha | WI | Dec 13 | 175 | 93 | 325 | 43 | (556) | (10) |
| AptarGroup | Crystal Lake | IL | Dec 13 | 172 | 162 | 184 | 125 | 154 | 139 |
| Cytec Industries | West Patterson | NJ | Dec 13 | 172 | 76 | 58 | (1) | (197) | 207 |
| AO Smith | Milwaukee | WI | Dec 13 | 170 | 163 | 111 | 90 | 78 | 87 |
| Dresser-Rand Group | Houston | TX | Dec 13 | 169 | 183 | 121 | 211 | 198 | 107 |
| PerkinElmer | Waltham | MA | Dec 13 | 168 | 68 | 1 | 93 | 128 | 133 |
| Esterline Technologies | Bellevue | WA | Oct 13 | 168 | 114 | 134 | 107 | 114 | 88 |
| Allison Transmission | Indianapolis | IN | Dec 13 | 165 | 514 | 103 | (324) | (328) | 42 |
| Teradyne | North Reading | MA | Dec 13 | 165 | 217 | 344 | (134) | (395) | 72 |
| Steel Dynamics | Fort Wayne | IN | Dec 13 | 164 | 142 | 266 | (11) | 455 | 394 |
| Cadence Design Systems | San Jose | CA | Dec 13 | 164 | 440 | 72 | (150) | (1,857) | 287 |
| Kennametal | Latrobe | PA | Jun 14 | 162 | 207 | 311 | 50 | (101) | 167 |
| Scotts Miracle-Gro | Marysville | OH | Sep 13 | 161 | 113 | 140 | 153 | (11) | 113 |
| Cabot Corp | Boston | MA | Sep 13 | 158 | 201 | 205 | (77) | 86 | 127 |
| IPG Photonics | Oxford | MA | Dec 13 | 156 | 148 | 121 | 5 | 38 | 32 |
| The Toro Company | Bloomington | MN | Oct 13 | 155 | 130 | 118 | 63 | 120 | 142 |
| Huntsman | Salt Lake City | UT | Dec 13 | 154 | 378 | 251 | 115 | 479 | 43 |
| Middleby Corp | Elgin | IL | Dec 13 | 154 | 121 | 95 | 61 | 64 | 53 |
| ON Semiconductor | Phoenix | AZ | Dec 13 | 154 | (86) | 15 | 63 | (429) | 205 |
| Graphic Packaging Holding | Atlanta | GA | Dec 13 | 147 | 120 | 275 | 56 | (99) | (49) |
| Woodward | Fort Collins | CO | Sep 13 | 146 | 142 | 132 | 94 | 122 | 98 |
| Curtiss Wright | Charlotte | NC | Dec 13 | 138 | 92 | 119 | 95 | 109 | 104 |
| Zebra Technologies | Lincolnshire | IL | Dec 13 | 134 | 122 | 130 | 47 | (38) | 110 |
| Acuity Brands | Atlanta | GA | Aug 13 | 127 | 116 | 106 | 85 | 149 | 129 |
| FEI Company | Hillsboro | OR | Dec 13 | 127 | 115 | 104 | 23 | 18 | 46 |
| Regal-Beloit | Beloit | WI | Dec 13 | 126 | 200 | 158 | 99 | 129 | 118 |
| LSI Corp | San Jose | CA | Dec 13 | 125 | 196 | 90 | (48) | (622) | (2,487) |
| Heico Corp | Hollywood | FL | Oct 13 | 125 | 107 | 95 | 60 | 67 | 55 |
| Eagle Materials | Dallas | TX | Mar 14 | 124 | 58 | 19 | 29 | 42 | 98 |
| Cree | Durham | NC | Jun 14 | 124 | 87 | 44 | 152 | 31 | 32 |
| Martin Marietta Materials | Raleigh | NC | Dec 13 | 120 | 87 | 80 | 88 | 175 | 261 |
| Moog | East Aurora | NY | Sep 13 | 120 | 152 | 136 | 85 | 119 | 101 |
| Clarcor | Franklin | TN | Nov 13 | 118 | 123 | 124 | 72 | 96 | 91 |
| Belden | St. Louis | MO | Dec 13 | 105 | 43 | 101 | (24) | (362) | 136 |
| Sealed Air | Elmwood Park | NJ | Dec 13 | 94 | (1,618) | 133 | 244 | 180 | 353 |
| PolyOne | Avon Lake | OH | Dec 13 | 93 | 53 | 153 | 68 | (273) | 11 |
| Bruker | Billerica | MA | Dec 13 | 82 | 78 | 94 | 81 | 65 | 99 |
| National Instruments | Austin | TX | Dec 13 | 81 | 90 | 94 | 17 | 85 | 107 |
| Tempur Sealy | Lexington | KY | Dec 13 | 79 | 107 | 220 | 85 | 59 | 141 |
| Cognex | Natick | MA | Dec 13 | 74 | 68 | 70 | (5) | 30 | 28 |
| Berry Plastics Group | Evansville | IN | Sep 13 | 57 | 2 | (299) | 148 | (138) | (128) |
| Rockwood Holdings | Princeton | NJ | Dec 13 | 55 | 233 | 70 | 15 | (718) | 89 |
| USG Corp | Chicago | IL | Dec 13 | 48 | (182) | (396) | (787) | (463) | 77 |
| 3D Systems Corp | Rock Hill | SC | Dec 13 | 44 | 39 | 35 | 1 | (6) | (7) |
| SunPower Corp | San Jose | CA | Dec 13 | 34 | (352) | (614) | 33 | 90 | 28 |
| Vulcan Materials | Birmingham | AL | Dec 13 | 21 | (54) | (75) | 19 | 3 | 463 |
| RF Micro Devices | Greensboro | NC | Mar 14 | 13 | (53) | 1 | 71 | (888) | (3) |
| Jabil Circuit | St Petersburg | FL | Aug 14 | (2) | 319 | 334 | 171 | (1,166) | 132 |
| Riverbed Technology | San Francisco | CA | Dec 13 | (12) | 55 | 64 | 7 | 11 | 15 |
| Cepheid | Sunnyvale | CA | Dec 13 | (18) | (20) | 3 | (23) | (22) | (22) |
| Atmel | San Jose | CA | Dec 13 | (22) | 30 | 315 | (109) | (27) | 48 |
| TriQuint Semiconductor | Hillsboro | OR | Dec 13 | (38) | (26) | 48 | 16 | (15) | 23 |
| Spectrum Brands | Middleton | WI | Dec 13 | (55) | 49 | (75) | (113) | (905) | (563) |
| Allegheny Technologies | Pittsburgh | PA | Dec 13 | (91) | 160 | 212 | 38 | 574 | 754 |
| Freescale Semiconductor | Austin | TX | Dec 13 | (208) | (102) | (410) | 748 | (7,939) | (1,613) |
| Palo Alto Networks | Santa Clara | CA | Jul 14 | (226) | (29) | 1 | (21) | (19) | (16) |
| VeriFone Systems | San Jose | CA | Oct 13 | (295) | 66 | 283 | (138) | (425) | (34) |
| SunEdison | St Peters | MO | Dec 13 | (614) | (149) | (1,520) | (70) | 390 | 830 |
| SpiritAeroSystems | Wichita | KS | Dec 13 | (621) | 35 | 192 | 219 | 192 | 265 |
| US Steel | Pittsburgh | PA | Dec 13 | (1,672) | (125) | (53) | (1,406) | 2,154 | 890 |
| Total all 154 | 34,313 | 28,773 | 24,816 | 9,149 | (8,207) | 19,911 | |||
| Earnings % Increase | |||||||||
| …..2013 Over 2008 | 518% | ||||||||
| …2012&13 Over 2008&09 | 6,597% | ||||||||
| …..2013 Over 2007 | 72% | ||||||||
| …..2013 Over 2012 | 19% |
