Thus, as a backdrop for this upcoming speech and continuing a much deserved tribute to Bernanke's key role in helping the US avoid a Deep, Prolonged Financial Depression, I think it would be helpful to update just what has been going on with Stock Market Prices for Companies in each US State since March 6, 2009, the lowest point for the overall US Stock Market resulting from the aftershocks of the horrific late 2008 US Financial Meltdown, through the most recent date March 16, 2015......a roughly six year period of time.
Long-term Audited Earnings From Continuing Operations Under US Generally Accepted Accounting Principles (GAAP) drive Long-Term Changes in Stock Market Prices. These Company Earnings crashed with the late 2008 US Financial Meltdown and thus the linked Stock Market Prices of the related Companies also crashed.
But since the 2008 US Financial Meltdown, these Earnings have been consistently exceptional and thus the Stock Market Prices of the related Companies have also consistently exploded upwardly in the past six years.
This is the dilemma faced by the current US Fed ..... raise US interest rates or continue former US Fed Chair Ben Bernanke's economic policies which have continued to spur Company Earnings and thus also Company Stock Market Prices.
I think the current US Fed should tweak Bernanke's economic policies some to try to more effectively deal with income and wealth inequality, but why in the world would you want to alter them significantly since they have been so incredibly successful?
And the US Congress, and frankly also US Companies, just have to do a much better job addressing income and wealth inequality.
Michigan Companies stock market prices have been on absolute fire in the past 4 1/2 months. They experienced average stock market price growth of 926% for the 6 years since March 6, 2009 through the most recent date March 16, 2015. This average growth since March 6, 2009 was a much lower but still fantastic 807% only 4 1/2 months ago.
The greater Detroit area 33 Companies experienced an unbelievably off-the-charts 1,250% average stock market price appreciation since March 6, 2009 through the most recent date March 16, 2015. Who says that wise economic actions by the US Government can't help turn around a very troubled industry?
So, Michigan Companies' off-the-charts 924% average stock market price appreciation for the past 6 years tops by quite a bit Companies in all other US States starting with the letter M through the end of the alphabet. It's going to be very difficult for Companies in any US State to exceed this 924% average growth marker.
Below here are the 51 Michigan Headquartered Companies with Stock Market Caps now above $100 mil and which have had their common stocks trading from December 31, 2007, or early in 2008 for companies first going public then, through the most recent date March 16, 2015, or the date the Companies were sold, if they were sold since the beginning of 2014.
|Detroit Metro Area Companies|
|TriMas Corp||Bloomfield Hills||MI||29.50||1.04||10.59||2737%||-90%||179%|
|Saga Communications||Grosse Pointe Farms||MI||41.34||2.35||5.89||1661%||-60%||602%|
|Domino's Pizza||Ann Arbor||MI||101.53||5.88||13.23||1627%||-56%||667%|
|WABCO Holdings||Rochester Hills||MI||117.49||8.45||50.09||1290%||-83%||135%|
|Synthetic Biologics||Ann Arbor||MI||2.45||0.15||5.12||1533%||-97%||-52%|
|Penske Automotive Group||Bloomfield Hills||MI||50.59||5.03||17.46||906%||-71%||190%|
|Credit Acceptance Corp||Southfield||MI||195.76||18.19||20.67||976%||-12%||847%|
|Taubman Centers||Bloomfield Hills||MI||79.10||13.56||49.19||483%||-72%||61%|
|Ramco-Gershenson Properties Trust||Farmington Hills||MI||18.82||3.88||21.37||385%||-82%||-12%|
|Agree Realty||Farmington Hills||MI||32.65||10.50||30.10||211%||-65%||8%|
|Universal Truckload Services||Warren||MI||26.63||11.26||19.16||137%||-41%||39%|
|United Bancorp||Ann Arbor||MI||12.10||7.25||17.00||67%||-57%||-29%|
|Meadowbrook Insurance Group||Southfield||MI||8.47||5.46||9.41||55%||-42%||-10%|
|Total all 33 Detroit Metro Area Companies||1,250%||-70%||129%|
|Rest of Michigan Companies|
|Mercantile Bank||Grand Rapids||MI||19.45||3.17||15.50||514%||-80%||25%|
|Wolverine World Wide||Rockford||MI||30.27||6.69||12.26||353%||-45%||147%|
|Universal Forest Products||Grand Rapids||MI||52.83||19.82||29.46||167%||-33%||79%|
|Total all 18 Rest of Michigan Companies||331%||-59%||70%|
|Average % Change all 51 Michigan Companies||926%||-66%||108%|