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Sat Nov 30, 2019, 05:54 AM

Schwab is the latest company leaving California for Texas and it won't be the last, expert says

When financial services firm Charles Schwab announced its $26 billion mega-merger with TD Ameritrade, it also dropped a bombshell about relocating the combined company’s headquarters from San Francisco to North Texas.

The Dallas Morning News talked to corporate relocation site selection expert John Boyd about Schwab’s decision to make its campus under construction in Westlake the new headquarters, and why even more California companies are likely to pack up and move to the Lone Star State in the future. One study estimates 13,000 companies fled the Golden State in a nine-year period from 2008 to 2016.

It’s been rumored for a long time that Schwab may be looking to get out of California. Why would the company choose to have this move coincide with a major acquisition like TD Ameritrade?

There's a unique driver here above and beyond Dallas's superior business climate versus San Francisco and that's this new era of zero commission trading.

Read more: https://www.dallasnews.com/business/2019/11/30/schwab-is-the-latest-company-leaving-california-for-texas-and-it-wont-be-the-last-expert-says/

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Reply Schwab is the latest company leaving California for Texas and it won't be the last, expert says (Original post)
TexasTowelie Nov 2019 OP
redstatebluegirl Nov 2019 #1
kimbutgar Nov 2019 #2
hurl Dec 2019 #3

Response to TexasTowelie (Original post)

Sat Nov 30, 2019, 12:06 PM

1. Those employees are going to have culture shock in a huge way!

Dallas is growing so fast! We went down there a couple of weeks ago to shop, it was horrible trying to get around the city. The traffic looked like LA.

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Response to TexasTowelie (Original post)

Sat Nov 30, 2019, 12:18 PM

2. Schwab is a big asshole MF45 supporter

There are a lot of gay employees who might not make the move and sell the company stock they’d held on all these years. There will be a brain and talent drain of the company.

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Response to TexasTowelie (Original post)

Sun Dec 1, 2019, 10:44 PM

3. Republicans Love Stories Like This

They love to portray California as a terrible place to do business despite being the world's fifth largest economy because of Democratic politics, while Texas welcomes 'business refugees' with low regulations, wages, and Republican business practices that let employers off the hook for massive explosions and the like.

Of course they ignore healthcare availability, protections for workers, and any other worker-friendly policy. We have among the lowest access to healthcare for children, among the least union representation, and so on.

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