Michigan Auto and Auto Parts Companies Total Pretax Earnings Were Down the Tubes in the First Half of 2018, With Their Total Pretax Earnings Declining By 22%. GM's Pretax Earnings Were Down By 31% and Ford's Were Down By 28%.

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As a Comparison, in Barack Obama's Last Year in Office in 2016, the Detroit, Michigan Area Companies Total Pretax Earnings Growth in 2016 Was 3% Over That in Annual 2015, and Total Pretax Earnings Growth in 2015 Was an Exceptional 72% Over That in Annual 2014   

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And Detroit Area Companies Had Their Total Annual Pretax Earnings Increase By $61.2 Bil From Total Pretax Losses of $30.9 Bil in 2009 to Total Pretax Income of $30.3 Bil in 2016 and By an Even Higher $73.8 Bil From Total Pretax Losses of $43.5 Bil in 2008 to Total Pretax Income of $30.3 Bil in 2016
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And in Barack Obama's Last Year in Office in 2016, All Michigan Companies Total Pretax Earnings Growth in 2016 Was 4% Over That in Annual 2015, and Total Pretax Earnings Growth in 2015 Was an Exceptional 61% Over That in Annual 2014   

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From a review of US SEC filings, there were 44 Companies headquartered effectively in Michigan with stock market caps of more than $1 Bil recently.

Of these 44 Michigan Cos, 16 are in the Motor Vehicles and Parts Industry.

My focus is on Pretax Income rather than on After-Tax Net Income because Income Taxes are simply a transfer of financial wealth between US Corporations and the US Federal, US State and Foreign Governments.  It has nothing whatsoever to do with Company Operating Performance.

From a review of SEC filings, the chart below shows the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the First Half of 2018 and 2017 for these 44 Michigan Companies.

	US	US
	GAAP	GAAP
	Pretax	Pretax
	Income	Income
	(Loss)	(Loss)
	6 Months	6 Months
	June	June	Better
	July	July	(Worse)
Michigan Companies	or Aug	or Aug	%
Market Caps Above $1 Bil	2018	2017	Change
	mils $	mils $
Motor Vehicle and Parts Cos
General Motors	4,461	6,440	-31%
Ford Motor	3,268	4,517	-28%
Lear Corp	905	808
Aptiv plc	761	592
BorgWarner	647	583
Autoliv	439	401
WABCO Holdings	266	205
Gentex	261	263
American Axle	260	155
Delphi Technologies plc	237	220
Meritor	177	99
Visteon	137	133
Cooper-Standard Holdings	121	116
Gentherm	36	44
Veoneer	(93)	(30)
Adient plc	(111)	513	-122%
Total all 16 Motor Vehicle and Parts Cos	11,772	15,059	-22%
Cos in all Other Sectors
DowDuPont	3,910	2,942	33%
Kellogg	1,180	694	70%
Stryker	1,165	943	24%
Ally Financial	789	702
DTE Energy	674	736
Masco	512	472
CMS Energy	446	435
Credit Acceptance Corp	356	301
Penske Automotive Group	320	282
Domino's Pizza	195	180
Perrigo Co plc	166	20
Chemical Financial	164	135
Wolverine World Wide	123	43
Syntel	118	99
Flagstar	106	100
Universal Forest Products	102	85
Steelcase	90	79
Herman Miller	84	95
La-Z-Boy	70	60
Taubman Centers	65	61
Sun Communities	58	43
TriMas	57	35
Neogen	37	36
Agree Realty	30	30
Altair Engineering	7	(11)
Diplomat Pharmacy	(4)	9
Esperion Therapeutics	(92)	(84)
Whirlpool	(500)	410	-222%
Total 28 Cos in all Other Sectors	10,228	8,933	15%
Total all 44 Michigan Companies	22,000	23,992	-8%

Also from a review of SEC filings, the chart below shows the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for Annual 2016, 2015, 2014, 2009 and 2008 for these Michigan Companies During the Obama Administration.

								Year
					Obama	Obama		Before
				Obama	Second	Third	Obama	Obama
				Last	Last	Last	First	First
				Year	Year	Year	Year	Year
				2016	2015	2014	2009	2008
				Audited	Audited	Audited	Audited	Audited
				Pretax	Pretax	Pretax	Pretax	Pretax
Michigan Companies	City	State	2016	Income	Income	Income	Income	Income
Stock Market Caps Above $1 Bil	HQs	HQs	FYE	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)
				$ mils	$ mils	$ mils	$ mils	$ mils
Detroit Area Cos
General Motors	Detroit	MI	Dec 16	12,008	8,371	4,246	(25,104)	(29,285)
Ford Motor	Dearborn	MI	Dec 16	6,796	10,252	1,234	2,599	(14,895)
Ally Financial	Detroit	MI	Dec 16	1,581	1,393	1,246	(6,959)	4,737
Lear Corp	Southfield	MI	Dec 16	1,411	1,081	824	(643)	(579)
DTE Energy	Detroit	MI	Dec 16	1,105	950	1,275	782	819
Aptiv plc	Troy	MI	Dec 16	1,035	1,013	1,635	(1,160)	(1,821)
BorgWarner	Auburn Hills	MI	Dec 16	943	875	980	18	14
Masco	Livonia	MI	Dec 16	830	689	507	(151)	(193)
Autoliv	Auburn Hills	MI	Dec 16	804	676	667	6	249
Credit Acceptance Corp	Southfield	MI	Dec 16	531	475	421	229	107
Penske Automotive Group	Bloomfield Hills	MI	Dec 16	508	492	458	129	(517)
WABCO Holdings	Rochester Hills	MI	Dec 16	369	298	357	13	254
Domino's Pizza	Ann Arbor	MI	Dec 16	345	306	259	136	83
American Axle	Detroit	MI	Dec 16	299	273	177	(297)	(1,121)
Syntel	Troy	MI	Dec 16	273	327	319	135	100
Flagstar	Troy	MI	Dec 16	258	240	(103)	(442)	(423)
Cooper-Standard Holdings	Novi	MI	Dec 16	195	153	88	(395)	(93)
Taubman Centers	Bloomfield Hills	MI	Dec 16	190	195	1,280	(78)	(7)
Visteon	Van Buren Township	MI	Dec 16	161	69	(43)	324	(531)
Meritor	Troy	MI	Sep 16	155	67	315	(68)	115
Chemical Financial	Detroit	MI	Dec 16	150	124	90	12	28
Federal-Mogul	Southfield	MI	Dec 16	145	(81)	(105)	(72)	(446)
Gentherm	Northville	MI	Dec 16	111	129	94	1	6
Ramco-Gershenson Prop Trust	Farmington Hills	MI	Dec 16	61	67	(2)	13	32
Agree Realty	Bloomfield Hills	MI	Dec 16	46	40	19	16	14
Universal Logistics	Warren	MI	Dec 16	39	65	73	8	24
Sun Communities	Southfield	MI	Dec 16	31	170	33	(7)	(28)
TriMas	Bloomfield Hills	MI	Dec 16	(58)	(22)	70	21	(124)
Total all 28 Detroit Area Cos				30,322	28,687	16,414	(30,934)	(43,481)
Total Pretax Income Improvement in $ mils
….. 2016 vs 2009 (Obama's Last Year vs First Year)	61,256
….. 2016 vs 2008 (Obama's Last Year vs Year B4 First Year)	73,803
Adient plc	Plymouth	MI	Sep 17	377	944	670	N/A	N/A
Delphi Technologies plc	Troy	MI	Dec 17	318	398	439	N/A	N/A
Metaldyne Performance Group	Southfield	MI	Dec 17	135	174	54	18	N/A
Diplomat Pharmacy	Flint	MI	Dec 17	36	41	9	3	N/A
Altair Engineering	Troy	MI	Dec 17	14	12	N/A	N/A	N/A
Veoneer	Southfield	MI	Dec 17	(22)	(8)	N/A	N/A	N/A
Esperion Therapeutics	Ann Arbor	MI	Dec 17	(75)	(50)	(36)	N/A	N/A
Total all 35 Detroit Area Cos				31,105	30,198	17,550	(30,913)	(43,481)
Total Pretax Income % Increase
….. 2016 vs 2015 (Obama's Last Year vs Second Last Year)				3%
….. 2015 vs 2014 (Obama's 2nd Last Year vs 3rd Last Year)				72%
Michigan Cos Outside of Detroit Area
Stryker	Kalamazoo	MI	Dec 16	1,921	1,735	1,160	1,624	1,580
Whirlpool	Benton Harbor	MI	Dec 16	1,114	1,031	881	293	246
Kellogg	Battle Creek	MI	Dec 16	928	773	819	1,684	1,631
CMS Energy	Jackson	MI	Dec 16	826	796	729	335	440
Gentex	Zeeland	MI	Dec 16	511	464	415	96	92
Steelcase	Grand Rapids	MI	Feb 17	196	175	137	(31)	(9)
Herman Miller	Zeeland	MI	May 17	179	197	145	35	99
Universal Forest Products	Grand Rapids	MI	Dec 16	161	131	96	39	7
La-Z-Boy	Monroe	MI	Apr 17	131	125	106	43	(96)
Wolverine World Wide	Rockford	MI	Dec 16	111	165	182	86	141
Neogen	Lansing	MI	May 17	67	56	52	27	22
Total all 46 Michigan Cos				37,250	35,846	22,272	(26,682)	(39,328)
Total Pretax Income Improvement in $ mils
…2016 vs 2008 (Obama's Last Year vs First Year)	63,932
…2016 vs 2009 (Obama's Last Year vs Year B4 First Year)	76,578
Total Pretax Income % Increase
…2016 vs 2015 (Obama's Last Year vs Second Last Year)	4%
…2015 vs 2014 (Obama's 2nd Last Year vs 3rd Last Year)	61%

I excluded both DowDupont and Perrigo because the magnitude of their unusual one-time items was so enormous and thus resulted in their GAAP Reported Pretax Income (Loss) amounts to be not very meaningful.