Wall Street Banks And Tech Companies Are Fleeing New York And California

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Now that working from home has taken its hold, the trend offers CEOs options. No longer do they have to pay for expensive real estate in New York City or San Francisco. They can have people working remotely or relocate jobs to locations that are less costly.

Major cities, such as New York, Los Angeles and San Francisco, have punishingly high tax rates and lack business-friendly policies. With pushes to defund the police and cutting down on prosecutions, cities have been plagued by crime, violence, looting and disorder. Government officials have demonstrated flagrant disregard for their citizens by haphazardly ordering businesses and schools to shutdown with little warnings.

A number of bankers told their boss, Ken Moelis, the CEO of his eponymous investment bank Moelis, that they wanted to leave New York City for Florida. In response to their request, Moelis replied, “We’re a talent business. I want to attract, I want to motivate and I want to retain the greatest talent in the world. And if that talent wants to do it in Florida, that’s where we’ll support them.

,"For myself, yes, I have moved to Texas." He continued,"We've got the Starship development here in South Texas where I am right now. We've got big factory developments just outside of Austin for Giga Texas as well." reported, “California, with its steep housing costs, raging wildfires and strict business regulations, has been losing residents to other states, with Texas as the most popular exodus destination.

Oracle, led by billionaire Larry Ellison, moved its headquarters to Austin because of California’s high tax rate, exorbitant living costs and the ability to have remote workers. The tech giant offers employees the option of either working remotely or selecting which office they’d prefer working at.

 

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Between aliens destroying NYC in the movies and Cuomo taking out the rest commercial estsblishment crave stability... the kind Rudi gave & myopic, pseudo-liberals like Cuomo & Peloci gave up... at least they gave up common man's stability to ensure theirs!!

“ With pushes to defund the police and cutting down on prosecutions, cities have been plagued by crime, violence, looting and disorder.” Do you think this is 1980?

We still feel Wall St is the place to be!

Scare city is back and it never felt better...

Maybe the housing market can start singing a less oppressive tune when they’re gone.

We need to get back to bartering, INDIGENOUS way of life,... We need to care for each other and our PLANET. Slow down! Stop and smell the flowers.

What’s up with the weird spin on this article? Why not just report the news without the whiney bitchiness lol

you people are very stupid for reporting this! I thought y’all want radical democrats in power? Y’all ain’t fighting realDonaldTrump again? Y’all ain’t seen shit yet USA will be like Nigeria before 2024. 😏 third world country

Confused about how to react to news like this? Follow me for guidance on how to navigate our difficult market.

Let’s be real. If anyone’s moving, it’s to get out of their duty as American companies to pay taxes. Fine. Let other states subsidize their workers. Good luck with that FL and TX. Already have some of the worst public education in the country.

I owe you an apology to ever doubt your sincerity and professionalism. It’s was just like a dream to me when I received my first payment. After my second payment it became a reality now after several payments it has become a way of life. lisaMakT

This article is garbage and clearly partisan. Sounds more like what the author HOPES will happen, not what IS happening. Violent crime because of defunding? Give me a break? Companies move to FL because of DECREASING COVID there? 🙄 Junk writing - do better

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Not good for red States. California and NY will get bailed out by Fed Govt while Wall Street Banks and Big Tech will have so much more influence at the local and state level in those red states. Becareful what you which for.

. Are they running to Texas, by any chance? JoeBiden FBI TheJusticeDept

And they'll poison the other states they move to with libness

Who cares. There is too many people in NYC and southern Cali.

Are you fleeing too?

But why? 🤨

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