Sink with California

A few news items to add to my recent observations about San Francisco.

Occidental Petroleum, No. 125 on the Fortune 500, has announced that it is moving its headquarters from Los Angeles to Houston. California is justly proud of its high-tech businesses, but it is worth noting that by revenue Occidental is about 1.75 times the size of eBay, more than twice as big as Visa, four-and-a-half times the size of AMD, and nearly five times the size of Facebook.

Apple plans to go ahead with its $5 billion headquarters in Cupertino, but it also is expanding its operations in Austin, where it is building a 38-acre campus that will be home to some 3,600 employees.

For more thoughts on California, listen to the inaugural “Mad Dogs and Englishmen” podcast, with Charles C. W. Cooke and me, here. Summary: We are not cheering for California to fail, but for it to be saved. 

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