After Years of Threats, Schwab Joins Exodus, to Move Headquarters from San Francisco to Texas

The Great Wolf Richter brings us a blockbuster report:

“As we’ve said previously, our strategy is to maintain our headquarters in San Francisco, where the firm was founded,” said a Charles Schwab spokeswoman in December 2016. The company had threatened to leave San Francisco in an arm-twist tactic with its landlord as its office lease was coming up for renewal. It worked apparently, and Schwab renewed the lease on its 417,000 square feet at 211 Main St. for another 10 years, and San Francisco breathed a sigh of false relief.

At the time, it had already made the decision to build a new campus in Westlake (northwest of Dallas-Fort Worth Airport), Texas. In October 2018, it filed plans to more than double the office space at the Westlake campus to 1.16 million square feet to accommodate up to 7,000 worker bees.

Schwab talked a good talk and kept the cat toy jiggling. SF was happy to watch the cat toy and leave Schwab alone. Otherwise, SF and the whole state of CA bureaucracy would pounce and scratch the company's eyes out as it sucks as many taxes, penalties and fines out of them as they possibly could. And then once done (if there is a such thing) would bid a final “don’t let the door hit you in the ass” thanks-for-nothing farewell.