It was rather amazing to see Gov. Granholm on CNN yesterday talking about Michigan being a leader in the green movement. She did not mention Michigan faces the nation's highest jobless rate, that we have the worst performance in real GDP since 2002 (49 other states grew; we declined), or the 20% hike in DTE's residential electric rates of which just 2.5 percentage points are accounted for by resolution of rate skewing.

Michigan faces a daunting economic challenge as the MBT still contains a surcharge that discourages business in Michigan. Also, we still don't have a state-level budget.

A severe recessionary economy, a clueless governor and a state unable to improve the business climate suggests more bad news for DTE. Elections have consequences and Michigan is getting the level of incompetence we elected.

DTE is down versus one year ago and two years ago, even with a strong showing since its March lows. DTE is also down since 2002. As Bill Clinton said "it's the economy."