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Strategies & Market Trends : Galapagos Islands

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To: Libbyt who wrote (45958)	8/12/2003 1:06:11 AM
From: Techplayer	Read Replies (4) of 57110

Hi Libby, I came across this months' fortune magazine (Buffett and Gates) on the cover. There is an article about the woes of CA that are forcing numerous businesses of all types from the state. Issues include workers comp expenses (5.85/$100 versus 2.50 for the national average), mandatory OT on every day worked over 8 hours (forcing call centers like Verizon's to move) and the ability for every employee to take 6 weeks off (paid) for family and health issues every year. It is mandatory for employers to pay 55% of income tax free if the employee makes up to 69k. The article starts off talking about how far left Davis and the Dem controlled house and Senate) have moved. Other issues mentioned are the number of tech jobs going over seas and the increased spending per employee still coming between now and 2006. I believe that the author stated that CA is becoming another Sweden. It just sounds ugly.

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