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 13, 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.
When pricing out these Texas Non-Oil & Gas Companies this time, it was pretty clear that many of them had very significant stock market price declines from the last time I priced them four and a half months ago, when the average stock market increase was a substantially higher 545%. Clearly, the substantially lower oil prices have not just harmed Texas Oil & Gas Companies, but have had a very substantial spillover impact on Texas Non-Oil & Gas Companies.
On the very positive side, two Texas Companies ..... Nextstar Broadcasting Group and Pier One Imports ..... have seen their stock market prices increase by more than 80 times in the most recent six years, thereby being main drivers of this overall 515% average stock market price growth.
Below here are the huge number of 144 Non-Oil & Gas Texas 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 13, 2015, or the date the Companies were sold, if they were sold since the beginning of 2014.
| Market | Market | Market | ||||||
| Price | Price | Price | ||||||
| % | % | % | ||||||
| Change | Change | Change | ||||||
| Market | Market | Market | 3-6-09 | 12-31-07 | 12-31-07 | |||
| Price | Price | Price | to | to | to | |||
| Texas Company | HQs | 3-13-15 | 3-6-09 | 12-31-07 | 3-13-15 | 3-6-09 | 3-13-15 | |
| $s | $s | $s | ||||||
| Non-Oil & Gas Companies | ||||||||
| Nexstar Broadcasting Group | Irving | TX | 56.82 | 0.65 | 9.14 | 8642% | -93% | 522% |
| Pier 1 Imports | Fort Worth | TX | 12.92 | 0.15 | 5.23 | 8513% | -97% | 147% |
| Tuesday Morning | Dallas | TX | 17.76 | 0.57 | 5.07 | 3016% | -89% | 250% |
| Cardtronics | Houston | TX | 37.10 | 1.38 | 10.11 | 2588% | -86% | 267% |
| Zale | Irving | TX | 21.19 | 0.97 | 16.06 | 2085% | -94% | 32% |
| Multimedia Games Holding | Austin | TX | 36.44 | 1.74 | 8.34 | 1994% | -79% | 337% |
| Ashford Hospitality Trust | Dallas | TX | 9.85 | 0.65 | 4.82 | 1413% | -87% | 104% |
| Carriage Services Inc | Houston | TX | 24.29 | 1.64 | 8.80 | 1381% | -81% | 176% |
| PFSweb | Allen | TX | 10.82 | 0.74 | 5.88 | 1362% | -87% | 84% |
| Trecora Resources | Sugar Land | TX | 11.92 | 0.87 | 7.65 | 1270% | -89% | 56% |
| Tenet Healthcare | Dallas | TX | 47.29 | 3.68 | 20.32 | 1185% | -82% | 133% |
| Westlake Chemical | Houston | TX | 65.78 | 5.37 | 9.50 | 1125% | -43% | 593% |
| Alliance Data Systems | Plano | TX | 284.17 | 23.78 | 74.99 | 1095% | -68% | 279% |
| FelCor Lodging Trust | Irving | TX | 10.92 | 0.94 | 15.59 | 1062% | -94% | -30% |
| Flotek Industries | Houston | TX | 14.83 | 1.28 | 36.04 | 1059% | -96% | -59% |
| Cirrus Logic | Austin | TX | 33.50 | 3.14 | 6.88 | 967% | -54% | 387% |
| Capital Senior Living | Dallas | TX | 25.26 | 2.40 | 9.93 | 953% | -76% | 154% |
| Trinity Industries | Dallas | TX | 33.94 | 3.36 | 13.88 | 910% | -76% | 145% |
| Group 1 Automotive | Houston | TX | 80.05 | 8.33 | 23.75 | 861% | -65% | 237% |
| Tyler Technologies | Dallas | TX | 119.51 | 12.66 | 12.89 | 844% | -2% | 827% |
| Rackspace Hosting | San Antonio | TX | 51.43 | 5.46 | 10.01 | 842% | -45% | 414% |
| Chicago Bridge & Iron NV | Woodlands | TX | 45.48 | 4.87 | 60.44 | 834% | -92% | -25% |
| Whole Foods Market | Austin | TX | 54.21 | 6.04 | 20.40 | 798% | -70% | 166% |
| Service Corp Intl | Houston | TX | 25.47 | 2.91 | 14.05 | 775% | -79% | 81% |
| Southwest Airlines | Dallas | TX | 44.51 | 5.13 | 12.20 | 768% | -58% | 265% |
| Helen of Troy | El Paso | TX | 76.80 | 8.99 | 17.14 | 754% | -48% | 348% |
| Texas Pacific Land Trust | Dallas | TX | 149.49 | 18.25 | 44.75 | 719% | -59% | 234% |
| Sally Beauty Holdings | Denton | TX | 33.51 | 4.18 | 9.05 | 702% | -54% | 270% |
| Susser Holdings | Corpus Christi | TX | 82.46 | 11.10 | 20.50 | 643% | -46% | 302% |
| Texas Capital Bancshares | Dallas | TX | 50.83 | 6.94 | 18.25 | 632% | -62% | 179% |
| Torchmark | McKinney | TX | 53.57 | 7.58 | 26.90 | 607% | -72% | 99% |
| Retractable Technologies | Little Elm | TX | 3.30 | 0.48 | 1.52 | 586% | -68% | 117% |
| Fossil Group | Richardson | TX | 80.18 | 11.75 | 41.98 | 582% | -72% | 91% |
| Texas Industries | Dallas | TX | 92.10 | 13.69 | 70.10 | 573% | -80% | 31% |
| Omega Protein | Houston | TX | 13.11 | 1.95 | 9.29 | 572% | -79% | 41% |
| Celanese Corp | Irving | TX | 55.81 | 8.36 | 42.32 | 568% | -80% | 32% |
| US Physical Therapy | Houston | TX | 48.55 | 7.66 | 14.37 | 534% | -47% | 238% |
| PROS Holdings | Houston | TX | 23.48 | 3.79 | 19.62 | 520% | -81% | 20% |
| Brinker Intl | Dallas | TX | 60.73 | 9.96 | 19.56 | 510% | -49% | 210% |
| Consolidated Graphics | Houston | TX | 64.84 | 10.95 | 47.82 | 492% | -77% | 36% |
| Alamo Group | Sequin | TX | 59.21 | 10.05 | 18.12 | 489% | -45% | 227% |
| Cinemark Holdings | Plano | TX | 41.73 | 7.12 | 17.00 | 486% | -58% | 145% |
| Bio-Path Holdings | Houston | TX | 1.73 | 0.30 | 0.90 | 477% | -67% | 92% |
| Builders FirstSource | Dallas | TX | 6.00 | 1.08 | 6.07 | 453% | -82% | -1% |
| KMG Chemicals | Houston | TX | 22.41 | 4.08 | 14.46 | 449% | -72% | 55% |
| Men's Wearhouse | Houston | TX | 51.70 | 9.73 | 26.98 | 431% | -64% | 92% |
| AZZ Inc | Fort Worth | TX | 44.30 | 8.56 | 14.18 | 418% | -40% | 213% |
| Crown Castle Intl | Houston | TX | 84.91 | 16.74 | 41.60 | 407% | -60% | 104% |
| ATRION | Allen | TX | 330.14 | 65.35 | 125.00 | 405% | -48% | 164% |
| DXP Enterprises | Houston | TX | 44.56 | 9.31 | 23.34 | 379% | -60% | 91% |
| Eagle Materials | Dallas | TX | 82.23 | 17.45 | 35.48 | 371% | -51% | 132% |
| Cash America Intl | Fort Worth | TX | 24.93 | 5.46 | 14.65 | 356% | -63% | 70% |
| Darling Intl | Irving | TX | 14.07 | 3.09 | 11.56 | 355% | -73% | 22% |
| Lennox Intl | Richardson | TX | 107.86 | 24.27 | 41.42 | 344% | -41% | 160% |
| Cyberonics | Houston | TX | 65.26 | 14.77 | 13.16 | 342% | 12% | 396% |
| Rush Enterprises | New Braunfels | TX | 24.58 | 5.57 | 17.80 | 341% | -69% | 38% |
| Zix | Dallas | TX | 3.92 | 0.91 | 4.60 | 331% | -80% | -15% |
| Diodes | Plano | TX | 29.85 | 7.00 | 30.07 | 326% | -77% | -1% |
| Dresser-Rand Group | Houston | TX | 80.94 | 19.12 | 39.05 | 323% | -51% | 107% |
| Kronos Worldwide | Dallas | TX | 12.84 | 3.04 | 8.73 | 322% | -65% | 47% |
| Insteel Industries | Mount Airy | TX | 20.50 | 4.90 | 11.73 | 318% | -58% | 75% |
| Weingarten Realty Investors | Houston | TX | 35.12 | 8.43 | 31.44 | 317% | -73% | 12% |
| Biglari Holdings | San Antonio | TX | 422.49 | 102.80 | 218.00 | 311% | -53% | 94% |
| First Cash Financial Services | Arlington | TX | 47.65 | 11.72 | 14.68 | 307% | -20% | 225% |
| RCI Hospitality Holdings | Houston | TX | 10.32 | 2.63 | 26.92 | 292% | -90% | -62% |
| National Western Life Insurance | Austin | TX | 254.49 | 65.05 | 207.37 | 291% | -69% | 23% |
| Texas Instruments | Dallas | TX | 57.12 | 14.71 | 33.40 | 288% | -56% | 71% |
| Clear Channel Outdoor Holdings | San Antonio | TX | 9.68 | 2.52 | 27.66 | 284% | -91% | -65% |
| DR Horton | Fort Worth | TX | 26.35 | 6.93 | 13.17 | 280% | -47% | 100% |
| Flowserve | Irving | TX | 56.38 | 14.86 | 32.07 | 279% | -54% | 76% |
| Stage Stores | Houston | TX | 22.32 | 5.92 | 14.80 | 277% | -60% | 51% |
| Kirby | Houston | TX | 73.61 | 19.95 | 46.48 | 269% | -57% | 58% |
| Team Inc | Sugar Land | TX | 37.40 | 10.32 | 36.58 | 262% | -72% | 2% |
| Primoris Services Corp | Dallas | TX | 17.03 | 4.70 | 7.52 | 262% | -38% | 126% |
| Comerica | Dallas | TX | 45.99 | 12.84 | 43.53 | 258% | -71% | 6% |
| Geospace Technologies | Houston | TX | 16.81 | 4.81 | 29.05 | 250% | -83% | -42% |
| US Lime & Minerals | Dallas | TX | 64.41 | 18.42 | 30.35 | 250% | -39% | 112% |
| International Bancshares | Laredo | TX | 25.87 | 7.63 | 20.94 | 239% | -64% | 24% |
| Bristow Group | Houston | TX | 58.74 | 17.41 | 56.65 | 237% | -69% | 4% |
| Uranium Energy Corp | Corpus Christi | TX | 1.41 | 0.42 | 3.06 | 236% | -86% | -54% |
| Capital Southwest Corp | Dallas | TX | 48.84 | 14.60 | 29.60 | 235% | -51% | 65% |
| Waste Connections | Woodlands | TX | 47.85 | 14.58 | 20.60 | 228% | -29% | 132% |
| Legacy Texas Financial Group | Plano | TX | 24.28 | 7.86 | 11.81 | 209% | -33% | 106% |
| Insperity | Kingwood | TX | 54.92 | 18.94 | 28.28 | 190% | -33% | 94% |
| Greatbatch | Frisco | TX | 53.85 | 18.66 | 19.99 | 189% | -7% | 169% |
| Stewart Information Services | Houston | TX | 39.17 | 13.65 | 26.09 | 187% | -48% | 50% |
| National Instruments | Austin | TX | 31.38 | 10.95 | 22.22 | 186% | -51% | 41% |
| Furmanite | Houston | TX | 7.24 | 2.55 | 11.80 | 184% | -78% | -39% |
| Copart | Dallas | TX | 37.28 | 13.49 | 21.28 | 176% | -37% | 75% |
| Stratus Properties | Austin | TX | 12.99 | 4.74 | 33.94 | 174% | -86% | -62% |
| Conns | Woodlands | TX | 27.39 | 10.04 | 15.13 | 173% | -34% | 81% |
| American National Insurance | Galveston | TX | 96.39 | 35.38 | 121.24 | 172% | -71% | -20% |
| Southside Bancshares | Tyler | TX | 30.24 | 11.22 | 15.27 | 170% | -27% | 98% |
| HCC Insurance Holdings | Houston | TX | 56.48 | 21.34 | 28.68 | 165% | -26% | 97% |
| American Campus Communities | Austin | TX | 41.17 | 15.61 | 26.85 | 164% | -42% | 53% |
| Benchmark Electronics | Angleton | TX | 23.69 | 9.13 | 17.73 | 159% | -49% | 34% |
| Forestar Group | Austin | TX | 15.64 | 6.10 | 23.59 | 156% | -74% | -34% |
| Solera Holdings | Westlake | TX | 50.43 | 20.05 | 24.78 | 152% | -19% | 104% |
| Prosperity Bancshares | Houston | TX | 52.33 | 21.16 | 29.39 | 147% | -28% | 78% |
| Kimberly-Clark | Dallas | TX | 105.79 | 43.92 | 69.34 | 141% | -37% | 53% |
| ION Geophysical | Houston | TX | 2.16 | 0.91 | 15.78 | 137% | -94% | -86% |
| Silicon Laboratories | Austin | TX | 50.61 | 21.80 | 37.43 | 132% | -42% | 35% |
| Waste Management | Houston | TX | 53.32 | 23.26 | 32.67 | 129% | -29% | 63% |
| First Financial Bankshares | Abilene | TX | 27.73 | 12.48 | 12.55 | 122% | -1% | 121% |
| CompX Intl | Dallas | TX | 11.46 | 5.29 | 14.62 | 117% | -64% | -22% |
| Comfort Systems USA | Houston | TX | 19.42 | 9.14 | 12.78 | 112% | -28% | 52% |
| Valhi | Dallas | TX | 6.06 | 2.95 | 5.31 | 105% | -44% | 14% |
| Encore Wire | Mckinney | TX | 34.94 | 17.07 | 15.92 | 105% | 7% | 119% |
| Hanger | Austin | TX | 25.46 | 12.63 | 11.01 | 102% | 15% | 131% |
| Sysco | Houston | TX | 38.57 | 20.23 | 31.21 | 91% | -35% | 24% |
| Cullen/Frost Bankers | San Antonio | TX | 69.46 | 36.61 | 50.66 | 90% | -28% | 37% |
| Ennis | Midlothian | TX | 13.78 | 7.43 | 18.00 | 85% | -59% | -23% |
| Houston Wire & Cable | Houston | TX | 9.37 | 5.08 | 14.14 | 84% | -64% | -34% |
| GameStop | Grapevine | TX | 40.70 | 22.38 | 62.11 | 82% | -64% | -34% |
| Hilltop Holdings | Dallas | TX | 19.99 | 11.00 | 10.92 | 82% | 1% | 83% |
| Westwood Holdings Group | Dallas | TX | 60.85 | 33.80 | 37.60 | 80% | -10% | 62% |
| Fluor | Irving | TX | 56.69 | 31.75 | 72.86 | 79% | -56% | -22% |
| Hallmark Financial Services | Fort Worth | TX | 11.27 | 6.50 | 15.86 | 73% | -59% | -29% |
| Harte-Hanks Inc | San Antonio | TX | 7.63 | 4.65 | 1.72 | 64% | 170% | 344% |
| Rent-A-Center | Plano | TX | 27.24 | 16.90 | 14.52 | 61% | 16% | 88% |
| Dorchester Minerals LP | Dallas | TX | 22.90 | 14.65 | 20.13 | 56% | -27% | 14% |
| Commercial Metals | Irving | TX | 14.97 | 9.64 | 29.45 | 55% | -67% | -49% |
| Quanta Services | Houston | TX | 27.67 | 17.92 | 26.24 | 54% | -32% | 5% |
| Luby's Inc | Houston | TX | 5.35 | 3.52 | 10.16 | 52% | -65% | -47% |
| AT&T | Dallas | TX | 32.76 | 22.58 | 41.56 | 45% | -46% | -21% |
| Sabine Royalty Trust | Dallas | TX | 40.34 | 29.09 | 42.88 | 39% | -32% | -6% |
| KBR Inc | Houston | TX | 14.68 | 11.71 | 38.80 | 25% | -70% | -62% |
| Capstead Mortgage Corp | Dallas | TX | 11.68 | 9.49 | 13.19 | 23% | -28% | -11% |
| Powell Industries | Houston | TX | 33.06 | 29.87 | 44.07 | 11% | -32% | -25% |
| Lexicon Pharmaceuticals | Woodlands | TX | 1.11 | 1.02 | 3.03 | 9% | -66% | -63% |
| EZCORP | Austin | TX | 10.61 | 9.91 | 11.29 | 7% | -12% | -6% |
| Luminex | Austin | TX | 15.76 | 15.66 | 16.24 | 1% | -4% | -3% |
| Integrated Electrical Services | Houston | TX | 7.94 | 7.90 | 18.79 | 1% | -58% | -58% |
| Citizens Inc | Austin | TX | 6.45 | 6.60 | 5.53 | -2% | 19% | 17% |
| NCI Building Systems | Houston | TX | 16.70 | 17.21 | 143.95 | -3% | -88% | -88% |
| Moneygram Intl | Dallas | TX | 8.61 | 9.20 | 122.96 | -6% | -93% | -93% |
| Orion Marine Group | Houston | TX | 9.01 | 9.69 | 15.00 | -7% | -35% | -40% |
| NL Industries | Dallas | TX | 7.22 | 7.77 | 11.43 | -7% | -32% | -37% |
| Dean Foods | Dallas | TX | 15.58 | 17.85 | 24.05 | -13% | -26% | -35% |
| SWS Group | Dallas | TX | 6.96 | 12.61 | 12.67 | -45% | 0% | -45% |
| JC Penney | Plano | TX | 7.73 | 14.22 | 43.99 | -46% | -68% | -82% |
| Natural Resource Partners LP | Houston | TX | 7.35 | 19.14 | 32.46 | -62% | -41% | -77% |
| Repros Therapeutics | Woodlands | TX | 9.26 | 24.44 | 37.28 | -62% | -34% | -75% |
| Layne Christensen Co | Woodlands | TX | 5.05 | 15.24 | 49.21 | -67% | -69% | -90% |
| Average Equal Company Weighted % Change all 144 Non-Oil & Gas Companies | 515% | -53% | 83% | |||||
