Largest Texas Non-Oil & Gas Companies Total Pretax Income Deteriorated in 2019 ..... March 2019 Quarter Up 7%, June 2019 Quarter Down 4%, September 2019 Quarter Down 13% and December 2019 Quarter Down 14% ..... Same Downtrend Just Less Pronounced as Texas Oil & Gas Companies' Comparable Profits in March 2019 Quarter Down 26%, June 2019 Quarter Down 35%, September 2019 Quarter Down 85% and December 2019 Quarter Down 74%. With Such Horrible Profits, The Texas Economy Must Now Be Under Severe Stress. The Texas Economy Desperately Needs Someone Like Financially Savvy, Data-Driven Pete Buttigeg in the White House.

There were 25 Texas Non-Oil & Gas Companies with stock market caps above $10 bil in Mid-2019.

From a review of SEC filings, below are the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for these 25 Texas Non-Oil & Gas Companies in each of the four quarters of both 2019 and 2018.

`		US	US			US	US			US	US			US	US
		GAAP	GAAP			GAAP	GAAP			GAAP	GAAP			GAAP	GAAP
		Pretax	Pretax			Pretax	Pretax			Pretax	Pretax			Pretax	Pretax
		Income	Income			Income	Income			Income	Income			Income	Income
Texas Largest Non-Oil & Gas Companies		(Loss)	(Loss)			(Loss)	(Loss)			(Loss)	(Loss)			(Loss)	(Loss)
Reporting Quarterly Earnings to the SEC		Dec	Dec			Sept	Sept			June	June			March	March
in All 4 Quarters of Both 2019 and 2018	Texas	Quarter	Quarter			Quarter	Quarter			Quarter	Quarter			Quarter	Quarter
Market Caps Above $10 Bil	City HQs	2019	2018			2019	2018			2019	2018			2018	2017
		mils $	mils $			mils $	mils $			mils $	mils $			mils $	mils $
AT&T	Dallas	3,138	5,745			4,886	6,207			5,073	6,780			5,371	6,141
Texas Instruments	Dallas	1,257	1,503			1,580	1,924			1,514	1,706			1,377	1,553
LyondellBasell Industries	Houston	752	796			1,105	1,347			1,175	1,634			1,020	1,534
Kimberly Clark	Irving	633	489			841	577			594	573			582	174
Southwest Air	Dallas	666	817			819	786			968	960			504	602
D R Horton	Arlington	523	376			660	608			627	616			463	445
Waste Management	Houston	531	659			615	597			497	609			462	511
Sysco Corp	Houston	477	355			582	538			682	593			431	365
Comerica	Dallas	351	400			372	381			385	419			424	335
Celanese	Irving	41	174			323	462			239	442			385	432
Yum China Holdings	Plano	128	65			322	279			231	203			322	403
Vistra Energy	Irving	254	(262)			159	525			502	31			301	(395)
Atmos Energy	Dallas	230	201			70	64			104	98			275	241
American Air Lines	Fort Worth	571	394			557	496			882	756			245	238
Crown Castle	Houston	214	205			277	169			250	185			216	118
CenterPoint Energy	Houston	182	181			332	209			224	(88)			191	212
CoPart	Dallas	205	165			202	149			187	133			204	171
Waste Connections	The Woodlands	166	162			202	203			189	181			154	157
Jacobs Engineering Group	Dallas	254	92			54	142			94	147			112	49
Match Group	Dallas	151	135			157	122			152	143			95	87
Lennox Intl	Richardson	141	106			144	134			140	185			83	44
Camden Property Trust	Houston	97	41			45	40			44	40			40	41
Invitation Homes	Dallas	53	26			34	1			39	(14)			21	(18)
McKesson	Irving	294	650			(970)	587			619	6			(633)	(1,094)
Dell Technologies	Round Rock	91	(275)			159	(995)			(111)	(468)			(143)	(623)
Total 25 Largest Texas Non-Oil & Gas Cos		11,400	13,200			13,527	15,552			15,300	15,870			12,502	11,723
….. % Change From Prior Year Quarter		-14%				-13%				-4%				7%

Such very poor earnings in the last half of of 2019, coupled with the huge CoronaVirus Losses which will start hitting the books in 2020, signals future very unhealthy pay raises for the many already underpaid Texas non-executive employees.

Texas Company non-executive workers really have had the deck stacked against them for decades versus what is going on with the sky-high annual percentage pay and employee benefit raises of their Companies' Top-Tier Executives.

So which 2020 Democratic Presidential candidate could best help close this massive annual percentage pay raise gap between Texas Company Top-Tier executives and their already massively underpaid, hardworking Texas non-executive employees?

More than anything needed to solve this thorny problem is to possess exceptionally strong financial and data science skills, coupled with a keen understanding of how businesses operate.  And you also must have a high degree of  economic fairness. 

Joe Biden, Bernie Sanders, Elizabeth Warren and Amy Klobuchar all have little if any financial acumen, no data science understanding and little if any understanding of how businesses operate in this fast-changing world.

Further, all four of them worked for the US Government, particularly in the past ten years, when these comparative pay raise results of Top-Tier Executives and non-executive employees were so horrendous, not just in Texas but also in every other US State.  

On the positive side, all four of them have a high degree of economic fairness.

Michael Bloomberg has both the financial acumen and the understanding of how businesses operate.  

But he has no data science expertise. 

Also and most important of all, Bloomberg has a low degree of economic fairness.  

In the many years he was accumulating his wealth of $60+ bil, US income inequality expanded dramatically in each year by leaps and bounds.  

So, like many US business tycoons with their sole fixation on maximization of Company profits, Bloomberg accumulated his massive wealth on the backs of the declining US middle class and growing number of people dropped to the lower economic class.  

And while he was accumulating his massive amount of wealth, Bloomberg was strongly anti-union.

And by his punitively racial "Stop and Frisk" policy, many New York City people of color were singled out and physically thrown against the wall.

I think there is only one Democratic Presidential candidate who has the requisite financial acumen, data science skills, understanding of how business operate and economic fairness to help turn the tide around on this massive, continuing US income inequality expansion caused mainly by the massive gap in annual percentage pay raises between executive and non-executive employees  ..... Pete Buttigieg.