There is good news too.
At some point in the near future, the excessive CA regulations will also collapse because there won’t be enough businesses or taxpayers to fund them.
I just heard on the radio that Cafe Press is moving from California to Louisville, KY with 600 jobs. Things must really be bad in la-la land because Louisville isn’t near the top in business friendly cities.
You don’t need to look at the numbers to see that California is in decline. Just drive through any business district and notice the vacant car dealerships, the shuttered businesses, and “for sale,” “for rent,” or “available” signs on every block and in every strip mall.
On the positive side, traffic congestion seems to have eased a bit. When you don’t have a job, you don’t have to drive to work.
• The Great California Exodus
WSJ ^ | 4-21-12 | Joel Kotkin
http://online.wsj.com/article/SB10001424052702304444604577340531861056966.html?mod=WSJ_hp_mostpop_read
4 million more people have left California in last 20 years than have come from other states.
Most people leaving are families
Things will get worse as Jerry Brown crams people into high-density housing
AB32, Cap and Trade will raise cost of energy and drive out manufacturing
The $100 billion bullet train
Green jobs are 2% of work force
California’s untapped 25 billion barrels of oil
Withholding water from the Central Valley farmers
48th worst business tax
10.3% tax on millionaires ($250,000)
9.3% tax on over $48,000
40% don’t pay income tax
Jerry Brown facilitated public employee collective bargaining in 1977
April 18, 2012, Villaraigosa gave his State of the City address http://www.dailynews.com/breakingnews/ci_20432596/full-text-mayor-antonio-villaraigosas-2012-state-city
Most of Villaraigos’s speech dealt with busses, trains, walking and bicycling and the union jobs they will provide. He did mention some of the new companies that moved to Los Angeles.
Lets look at BYD Co.
Buffet-Backed Carmaker Arrives in L.A. Late With Fewer Jobs
By Alan Ohnsman and Christopher Palmeri – Oct 24, 2011
Villaraigosa gave this Chinese car and bus manufacturing company $2 million for salesmen. The manufacturing will all be done in China and Los Angeles will buy their cars and busses. Not only that, Villaraigosa guaranteed that the city of Los Angeles would cover a 10 year lease if the Chinese don’t hold up to their end of the bargain.
Sweet!... For China, that is.
Now get this, Warren Buffett is a major stockholder in the company.
So at the printing date, BYD hired 20 employees and expects to have 100 by the end of 2012. It only cost us $2 million.
Then, the city of Los Angeles will buy these foreign built busses redistributing the wealth to China.
So, lets look at CODA, another company Villaraigosa said moved to Los Angeles.
http://www.hybridcars.com/vehicle/coda-electric-sedan.html
California buyers will have the chance to purchase a Chinese-built highway-capable all-electric car by the end of this year.
The Bloomberg article mentions that Los Angeles chased away Northrup Grumman Corp and Hilton Worldwide Corp.
Notice that none of the jobs listed by Villaraigosa were manufacturing jobs?
OOPS! Update:
• Buffett-backed Chinese carmaker hit by slowdown and solar woes
Reuters ^ | April 25, 2012 | by Alison Leung and Kelvin Soh
(Reuters) - BYD Co Ltd , a Chinese carmaker backed by U.S. billionaire Warren Buffett, posted a 90 percent slide in quarterly profit as it was hit by a slowdown in the world’s largest car market and losses in its solar business. China’s once-sizzling auto industry has succumbed to softening economic growth, further exasperated by new vehicle offerings in the fiercely competitive market. BYD, which attracted investment from Buffett’s Berkshire Hathaway because of its battery technology, has started selling pure electric cars and buses in China.
Here you go, The State of the City Speech
April 18, 2012, Villaraigosa gave his State of the City address http://www.dailynews.com/breakingnews/ci_20432596/full-text-mayor-antonio-villaraigosas-2012-state-city
Will the last employed person to leave California please close the gate behind yourself?