GTT: California Egress Continues

The Exodus from California continues.  This time, it’s a big one — Toyota

Toyota (TM) is expected to announce today the shift of hundreds of jobs in its sales and marketing department from Southern California to a location outside Dallas, according to several reports.

Toyota did not immediately respond to a request for comment, but an announcement could come later today after Toyota officials discuss the move with employees at their Torrance, Calif., facility.

While Toyota gained its early foothold in the U.S. in Southern California, the car maker now makes most of its U.S. built cars in Texas and the South. The move is apparently designed to consolidate its business operations within a smaller area.

GTT: California Exodus

GTT: California Exodus

The Los Angeles Times said about 5,300 people work at Toyota’s Torrance complex but that it was uncertain on Monday how many of those employees will be asked to transfer to Texas and whether the shift would entail layoffs.

The newspaper, citing people with knowledge of Toyota’s plans, said the move is expected to take several years.

Employees in Toyota’s Torrance offices and other U.S. locations asked to move to Texas will be offered relocation packages and financial assistance.

The new Texas headquarters is expected to house at least three units, including Toyota Motor Sales USA, Toyota Financial Services and Toyota Engineering and Manufacturing North America. The move will be scheduled to begin in August and will take place in stages through the end of 2016.

The move is seen as a blow to Southern California, where an undisclosed number of jobs will be lost in an important sector for the region, and a big win for Texas, which will be adding hundreds of new, mostly white collar, well-paying jobs.

Texas Governor Rick Perry has made several trips to California in a very-public effort to lure companies and their jobs to Texas, touting his state’s lower corporate taxes and less regulated business environment.

Florida GOP Debate

Don’t look now, but Newt Gingrich just won another Republican debate. Tonight in Orlando, Florida, he was the clear winner. Newt came across as the smartest and most complete candidate in the room. He even had the best “moment” of all of the candidates.

When asked what he would do to help the country regain its confidence, Newt’s answer was a homerun. He recalled the Ronald Reagan bromide: “When your brother-in-law is out of work, you’re in a recession. When you are out of work, you’re in a depression. When Jimmy Carter’s out of work, the country will be in recovery.” Newt said the defeat of Barack Obama would be the single most important economic stimulus that the country needs.

Rick Perry lost ground tonight. So did the Massachusetts governor, who reminded me again of why I would like to punch him in the mouth. Michelle Bachman’s biggest problem is that she isn’t Sarah Palin. Ron Paul, John Huntsman, and that Johnson fellow somehow think they are running for the libertarian nomination. Sorry, but they were just on the wrong stage. Herman Cain and Rick Santorum had their opportunities, but didn’t change their also-ran status.

Unless Sarah Palin gets in the race, I’m going to have to seriously consider Newt Gingrich for the top spot.

Anyway, that’s the way I saw it. What about you?

Cringe-worthy moments … Malkin

President Zero

Rick Perry’s commercial hits the incumbent where he is most vulnerable.

I give it a solid 9.5.

Social Security is a Ponzi Scheme

Krugman says social security is ponzi scheme



Gov Rick Perry says so. So did NYT economist and columnist Paul Krugman.

ZH points to this article from Boston Review.
I’ve saved a copy before it disappears down the memory hole.

Click on the thumbnail to enlarge …

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