3Q a good one for local firms, if you ignore auto industry.(News)

Crain's Detroit Business, November, 2006 by Henderson, Tom

Byline: Tom Henderson Local financial analyst David Sowerby said a compelling case can be made for a successful quarter for local public companies - if you disregard the automotive industry. "I would look (nationally) at the third quarter and call it the great U.S. profit machine. When I go locally, it's two different stories,'' said Sowerby, portfolio manager and chief market analyst for Bloomfield Hills-based Loomis Sayles & Co.

L.P. "One we know well, auto producers and auto suppliers. But you look at the nonauto companies, and you see a lot of double-digit growth, and that's a story that hasn't been cited enough: the success of Michigan's nonauto companies.'' Fifty-nine reporting companies in Southeast Michigan had combined losses of $4.7 billion...

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