Thursday, May 6, 2010

CEOs are sending california a message


"Recent polls show Californians in a deep funk over the state's prospects. A new study of corporate leaders in Chief Executive magazine shows why. Asked to rank states by business climate, CEOs put California DEAD LAST. Texas was No. 1.

California's long-term job losses are downright ugly. Since 2001, while politicians dither and spend, 634,000 factory jobs have disappeared along with 34% of the industrial base. From 2003 to 2007 alone, according to the Milken report, 79,000 jobs were lost due to excessive regulation and too-high taxes.

But if California's private companies are suffering, its public sector sure isn't. From 2001 to 2009, California lost 235,000 net private-sector jobs, but gained 163,700 government jobs. Those cushy union jobs also pay more than comparable private jobs and provide gold-plated benefits. Now Californians find they actually have to pay for this foolishness."

http://www.investors.com/NewsAndAnalysis/Article.aspx?id=532309

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