From an exhaustive review of SEC filings including analysis of business descriptions, let me lay out the US Broad-Based Manufacturing numbers and the reader can decide whether this position makes any sense.
I found 75 US Broad-Based Manufacturing Companies with current total stock market capitalizations of more than $10 bil each.
The Total 2013 Audited Earnings From Continuing Operations of these 75 largest US Broad-Based Manufacturing Companies were a massive $175.4 bil, up an incredibly high $164.8 bil, or up a phenomenally off-the-charts 1,553% from the comparable Total Audited Earnings of $10.6 bil in 2008, the last year of the Bush/Cheney Presidency.....yeah, that's up 15.5 times.
Also, the Total Audited Earnings of these 75 largest US Broad-Based Manufacturing Companies in 2013 of $175.4 bil were up a massive $127.9 bil, or an increase of a staggering off-the-charts 269%, over the comparable earnings in 2007 of $47.5 bil, which was before the disastrous effects of the 2008 financial meltdown hit......yeah, these 75 largest US Broad-Based Manufacturing Corps not only recouped the earnings they lost with the 2008 financial meltdown, but they also added another incredibly high $127.9 bil, or an additional 269%, of Audited Earnings.
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 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 $164.8 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.
Further, the Total Audited Earnings in 2013 of $175.4 bil were up a robust 21% from the comparable 2012 Total Earnings of $145.0 bil.
Below here are the Audited Earnings (Losses) Fron Continuing Operations of each of these 75 largest US Broad-Based Manufacturers with total stock market capitalizations of more than $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 | ||||
| Apple | Cupertino | CA | Sep 14 | 39,510 | 37,037 | 41,733 | 14,013 | 8,235 | 6,119 |
| Intel | Santa Clara | CA | Dec 13 | 9,620 | 11,005 | 12,942 | 4,369 | 5,292 | 6,976 |
| Cisco Systems | San Jose | CA | Jul 13 | 7,853 | 9,983 | 8,041 | 7,767 | 6,134 | 8,052 |
| Ford Motor | Dearborn | MI | Dec 13 | 7,148 | 5,664 | 20,222 | 2,712 | (14,833) | (2,819) |
| United Technologies | Hartford | CT | Dec 13 | 6,074 | 5,200 | 5,216 | 4,179 | 5,053 | 4,548 |
| General Motors | Detroit | MI | Dec 13 | 5,331 | 6,136 | 9,287 | (22,938) | (31,051) | (42,685) |
| Hewlett Packard | Palo Alto | CA | Oct 13 | 5,113 | (12,650) | 7,074 | 7,660 | 8,329 | 7,264 |
| Dow Chemical | Midland | MI | Dec 13 | 4,816 | 1,100 | 2,784 | 566 | 626 | 2,962 |
| 3M | St. Paul | MN | Dec 13 | 4,721 | 4,511 | 4,357 | 3,244 | 3,520 | 4,151 |
| Boeing | Chicago | IL | Dec 13 | 4,586 | 3,903 | 4,011 | 1,335 | 2,654 | 4,058 |
| Honeywell | Morristown | NJ | Dec 13 | 3,962 | 2,931 | 1,865 | 2,189 | 2,812 | 2,460 |
| Caterpillar | Peoria | IL | Dec 13 | 3,803 | 5,722 | 4,981 | 827 | 3,585 | 3,578 |
| Deere | Moline | IL | Oct 13 | 3,538 | 3,072 | 2,808 | 874 | 2,053 | 1,822 |
| EMC Corp | Hopkinton | MA | Dec 13 | 3,093 | 2,886 | 2,609 | 1,122 | 1,320 | 1,614 |
| Micron Technology | Boise | ID | Aug 14 | 3,079 | 1,194 | (1,031) | 1,900 | (1,993) | (1,665) |
| DuPont | Wilmington | DE | Dec 13 | 2,863 | 2,472 | 3,232 | 1,769 | 2,010 | 2,995 |
| Chrysler Group LLC | Auburn Hills | MI | Dec 13 | 2,757 | 1,668 | 183 | (8,210) | (16,844) | (5,041) |
| Monsanto | St. Louis | MO | Aug 14 | 2,749 | 2,514 | 2,087 | 1,124 | 2,122 | 2,027 |
| Danaher | Washington | DC | Dec 13 | 2,695 | 2,299 | 1,935 | 1,152 | 1,318 | 1,214 |
| Texas Instruments | Dallas | TX | Dec 13 | 2,162 | 1,759 | 2,236 | 1,470 | 1,920 | 2,641 |
| Emerson Electric | St. Louis | MO | Sep 13 | 2,066 | 2,024 | 2,504 | 1,724 | 2,454 | 2,129 |
| Corning Inc | Corning | NY | Dec 13 | 1,961 | 1,636 | 2,817 | 2,008 | 5,257 | 2,150 |
| Mosaic | Plymouth | MN | May 13 | 1,892 | 1,931 | 2,514 | 2,350 | 2,083 | 420 |
| Eaton | Cleveland | OH | Dec 13 | 1,873 | 1,220 | 1,352 | 385 | 1,067 | 973 |
| Praxair | Danbury | CT | Dec 13 | 1,836 | 1,744 | 1,722 | 1,297 | 1,256 | 1,220 |
| Precision Castparts | Portland | OR | Mar 14 | 1,767 | 1,433 | 1,232 | 925 | 1,036 | 957 |
| Illinois Tool Works | Glenview | IL | Dec 13 | 1,630 | 2,233 | 1,775 | 969 | 1,691 | 1,828 |
| Western Digital | Irvine | CA | Jun 14 | 1,617 | 980 | 1,612 | 1,382 | 470 | 867 |
| Cummins | Columbus | IN | Dec 13 | 1,588 | 1,738 | 1,946 | 484 | 818 | 788 |
| Seagate Technology | Cupertino | CA | Jun 14 | 1,570 | 1,838 | 2,862 | 1,609 | (3,125) | 1,251 |
| CF Industries | Deerfield | IL | Dec 13 | 1,533 | 1,923 | 1,761 | 449 | 802 | 427 |
| International Paper | Memphis | TN | Dec 13 | 1,333 | 754 | 1,287 | 681 | (1,266) | 1,239 |
| Delphi Automotive PLC | Troy | MI | Dec 13 | 1,301 | 1,160 | 1,223 | (822) | (1,984) | (1,692) |
| Johnson Controls | Milwaukee | WI | Sep 13 | 1,297 | 1,311 | 1,532 | (338) | 979 | 1,295 |
| Thermo Fisher Scientific | Waltham | MA | Dec 13 | 1,279 | 1,258 | 1,023 | 851 | 975 | 767 |
| TE Connectivity | Berwyn | PA | Sep 13 | 1,277 | 1,166 | 1,228 | (3,100) | 1,527 | (214) |
| Xerox | Norwalk | CT | Dec 13 | 1,205 | 1,212 | 1,307 | 516 | 265 | 1,165 |
| Eastland Chemical | Kingsport | TN | Dec 13 | 1,172 | 443 | 607 | 136 | 328 | 321 |
| PACCAR | Bellevue | WA | Dec 13 | 1,171 | 1,112 | 1,042 | 112 | 1,018 | 1,227 |
| PPG Industries | Pittsburgh | PA | Dec 13 | 1,156 | 836 | 962 | 426 | 624 | 932 |
| Motorola Solutions | Schaumburg | IL | Dec 13 | 1,105 | 878 | 741 | (88) | (4,240) | (91) |
| Air Products & Chemicals | Allentown | PA | Sep 13 | 1,043 | 1,025 | 1,172 | 640 | 1,091 | 1,020 |
| SanDisk | Milpitas | CA | Dec 13 | 1,043 | 417 | 987 | 47 | (38) | 110 |
| Parker Hannifin | Cleveland | OH | Jun 14 | 1,041 | 949 | 1,155 | 556 | 510 | 958 |
| TRW Automotive | Livonia | MI | Dec 13 | 1,007 | 1,041 | 1,195 | 73 | (764) | 109 |
| Dover | Downers Grove | IL | Dec 13 | 966 | 833 | 773 | 372 | 695 | 670 |
| Whirlpool | Benton Harbor | MI | Dec 13 | 849 | 425 | 408 | 354 | 447 | 669 |
| Rockwell Automation | Milwaukee | WI | Sep 13 | 756 | 737 | 697 | 218 | 578 | 569 |
| Sherwin-Williams | Cleveland | OH | Dec 13 | 753 | 631 | 442 | 436 | 477 | 616 |
| Harley Davidson | Milwaukee | WI | Dec 13 | 734 | 624 | 548 | 71 | 684 | 934 |
| Agilent Technologies | Santa Clara | CA | Oct 13 | 724 | 1,153 | 1,012 | (31) | 693 | 638 |
| Analog Devices | Norwood | MA | Oct 13 | 673 | 651 | 861 | 247 | 525 | 502 |
| BorgWarner | Auburn Hills | MI | Dec 13 | 651 | 522 | 571 | 36 | (19) | 317 |
| Ingersoll-Rand | Davidson | NC | Dec 13 | 641 | 792 | 143 | 488 | (2,547) | 747 |
| Amphenol | Wallingford | CT | Dec 13 | 639 | 560 | 529 | 327 | 430 | 364 |
| NetApp | Sunnyvale | CA | Apt 14 | 638 | 505 | 605 | 400 | 65 | 310 |
| Lam Research | Fremont | CA | Jun 14 | 632 | 114 | 169 | 347 | (302) | 439 |
| Xilinx | San Jose | CA | Mar 14 | 630 | 488 | 530 | 357 | 362 | 369 |
| Nucor | Charlotte | NC | Dec 13 | 586 | 593 | 861 | (237) | 2,145 | 1,765 |
| KLA-Tencor | Milpitas | CA | Jun 14 | 583 | 543 | 756 | 212 | (523) | 359 |
| Weyerhauser | Federal Way | WA | Dec 13 | 563 | 384 | 319 | (568) | (1,909) | (299) |
| Avago Technologies | San Jose | CA | Oct 13 | 552 | 563 | 552 | (44) | 57 | (220) |
| Pentair plc | Golden Valley | MN | Dec 13 | 543 | (105) | (3) | 116 | 259 | 212 |
| Roper Industries | Sarasota | FL | Dec 13 | 538 | 483 | 427 | 239 | 282 | 246 |
| Stanley Black & Decker | New Britain | CT | Dec 13 | 517 | 464 | 607 | 229 | 221 | 323 |
| Ametek | Berwyn | PA | Dec 13 | 517 | 459 | 384 | 206 | 247 | 228 |
| Textron | Providence | RI | Dec 13 | 498 | 581 | 242 | (73) | 324 | 866 |
| Sigma-Aldrich | St Louis | MO | Dec 13 | 491 | 460 | 457 | 347 | 342 | 311 |
| NVIDIA | Santa Clara | CA | Jan 14 | 440 | 563 | 581 | (68) | (30) | 798 |
| Altera | San Jose | CA | Dec 13 | 440 | 557 | 771 | 251 | 360 | 290 |
| Broadcom | Irvine | CA | Dec 13 | 424 | 719 | 927 | 65 | 215 | 213 |
| Skyworks Solutions | Wobum | MA | Sep 13 | 278 | 202 | 227 | 93 | 111 | 58 |
| Applied Materials | Santa Clara | CA | Oct 13 | 256 | 109 | 1,926 | (305) | 961 | 1,710 |
| Tesla Motors | Palo Alto | CA | Dec 13 | (71) | (396) | (254) | (56) | (83) | (78) |
| Alcoa | New York | NY | Dec 13 | (2,244) | 162 | 808 | (924) | 450 | 3,179 |
| Total all 75 | 175,433 | 145,044 | 191,006 | 43,501 | 10,613 | 47,532 | |||
| Annual % Earnings Increase | |||||||||
| …..2013 Over 2008 | 1553% | ||||||||
| …..2013 Over 2007 | 269% | ||||||||
| …..2013 Over 2012 | 21% |
