McKesson -- a Fortune 500 company -- has moved its headquarters from San Francisco to Dallas.
McKesson topped the the list of largest San Francisco-based companies, based on revenue. McKesson ranks No. 6 on the Fortune 500. The second-largest San Francisco-based company, based on revenue, is Wells Fargo, which is exempt from the city’s gross receipts taxes, as required by state law. The city declined to identify specific companies that get the exemption.
Sounds errily like Toyota North America moving its headquarters from Los Angeles to Plano, on the north side of DFW.Third on the list of largest San Francisco-based companies is payments giant Visa, which moved its headquarters officially to One Market St. several years ago. Visa did not respond to a question on whether it’s subject to the city’s gross receipts taxes.
As I've said many times on the blog, I've never seen so much construction as I'm seeing on the north side of DFW.
Link here to the McKesson story; and, here. Because of other things going on in San Francisco (like tech and Silicon Valley) and the size of Los Angeles, I doubt either city will miss one or two big companies. But the reader notes that a city like Portland, OR, can hardly afford the loss of (m)any downtown businesses. And it's our shared belief that Portland is looking to San Francisco for guidance on how to "run" a city.
By the way, no wonder Warren Buffett likes Wells Fargo: the company is exempt from San Francisco's gross receipts taxes. Wow, what a deal.
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AAPL vs TSLA
Tesla and Apple both reported in the last 24 hours: Apple, Inc., reported yesterday; Tesla reported today. Apple looks stronger than ever. Tesla? The tea leaves suggest 2019 will be "the year," one way or the other.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on what you read here or what you think you may have read here.
Note: I am the original Apple Fanboy. Fanboy #3 to be exact.
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We Can See Clearly Now
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