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BUSINESS FLIGHT IGNITES POLITICAL BATTLE


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business-flight-ignites-political-battleHuman Events:

SACRAMENTO — Financial giant Charles Schwab’s recent announcement that it is going to “reduce our concentration in San Francisco” has renewed discussions about California’s tax rates and business climate. That is public-relations speak for shifting about 1,000 jobs from the Bay Area to corporate locations in Colorado, Texas, and elsewhere.

 

The company is keeping its financial-district headquarters, but this is its latest effort to downsize in San Francisco. Schwab has been guarded in its critique of its home city and blamed the job-shifts on the high cost of living that has resulted in recruitment problems. But most analysts point to high tax rates as a key reason for the departure.

 

The funniest news coverage of the event came from the San Francisco Business Times, which reported on Texans who are eager for the new jobs, but “who fear that more Californians will ruin the Lone Star State.” But the Texas governor issued a statement boasting about his latest conquest.Scissors-32x32.png


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