12/24/2011

The Democrats' reaction to firms fleeing California

The question is how much more profits a company could make some place else. A nice editorial in the Orange County Register:

Democratic reaction to the news that Waste Connections, a $3.6-billion company and major Sacramento-area employer, is headed to Houston to seek a friendlier business climate tells other businesses all they need to know about the attitudes of those who run California's government.
State Senate President Pro Tem Darrell Steinberg, D-Sacramento, gave these clueless and snarky remarks in response to the news: "In this instance you have a company that is, in fact, profitable, making significant revenue gains in 2011 and 2010. That doesn't speak to a bad business climate here in California when a good company is able to thrive in that way. So whatever Mr. Middelstaedt's (company CEO) reasons are to leave the great state of California, I know I'm pushing back." . . . .
Is it really the Senate president's role to determine the proper profit margin for a privately owned company? Talk about arrogance. . . .

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