DTE, even with its rally since March 2009, is still below its level of 7 years ago. As Bill Clinton said "it's the economy." Sure enough, DTE is down and so is the Michigan economy. However, the Dow Jones Utility Average is up 100% since 7 years ago. The national economy is also up versus the 2002 experience. WOE #1: THE MICHIGAN ECONOMY.

MI's Real GDP US Real GDP
2002 336,862 10,049
2003 341,109 10,301
2004 337,851 10,676
2005 339,266 10,990
2006 334,680 11,295
2007 330,819 11,524
2008 (est)324,203 11,639
2009 (est)307,992 11,406
Mil. of $ Bil. of $
% Change (2003-09):-10% 11%
Source: BEA

Michigan is the the only state to experience a decline in overall economic activity since 2002. While the governor claimed you'd be "blown away," it appears her rhetoric is quite unreliable. In fact, she's back at it with tax increases proposals. WOE #2: INCOMPETENT POLITICAL LEADERSHIP DEVOID OF VERACITY.

Other companies offer better return potential versus DTE. Since March 2009 DTE has risen nicely, but other companies including AUY and various Michigan firms have done even better, on balance. WOE #3: OTHER COMPANIES LOOK MORE APPEALING.

% Change
Ford 300
Steelcase50
Kellogg 34
Stryker 48
Pfizer 50
Comerica158
Overall 107

SUPPORTERS OF DTE HAVE BEEN BEATING THE DRUMS FOR THIS STOCK FOR SOME TIME. THEY OFFER A POOR TRACK RECORD AS DTE IS DOWN FROM 3 YEARS AGO. WOE #4: BAD INVESTMENT ADVICE FROM DTE'S SUPPORTERS.

http://messages.finance.yahoo.com/Busine...

In conclusion, DTE faces lots of woes.