Tag Archives: Dallas

Schwab Abandons High-Tax San Francisco For New $100 Million Mega-HQ In Dallas, by Tyler Durden

Posted on December 1, 2019 | Leave a comment

Charles Schwab is leaving San Francisco for Dallas. It feels like the beginning of an exodus of corporations out of high-cost, high-hassle California. From Tyler Durden at zerohedge.com:

Charles Schwab’s $26 billion deal to acquire TD Ameritrade will result in the relocation of its San Francisco-based headquarters to Dallas-Fort Worth, reported The Wall Street Journal.

Schwab gave no timeframe on the transition to Westlake, a suburb of Dallas-Fort Worth, Texas. The region is considered one of the fastest-growing financial hubs in the country at the moment. The merger is expected to be completed in 2H20 and could take 12 to 36 months to integrate both firms completely.

Schwab’s new Dallas-Fort Worth campus will cost around $100 million, covers 70 acres with 500,000 square feet of office space.

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Posted in Business, Economics, Financial markets, Government

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Dallas on Verge of Bankruptcy Due to Pensions; Just a Matter of Time (For Dallas, Houston, LA, Oakland, Chicago, etc), by Mike Mish Shedlock

Posted on November 23, 2016 | 2 comments

Dallas will follow Stockton, San Bernardino, and Detroit, into bankruptcy, and precede and precede of other American cities. From Mike Mish Shedlock at mishtalk.com:

Dallas is on the verge of bankruptcy due to untenable pension problems.

The Dallas police and fire plan is only 45% funded. Lump sum withdrawals have escalated, and it’s only a matter of time before such withdrawals are halted.

The fund needs a billion dollars in funding this year, the equivalent of the entire city budget, just to keep up with outflows.

Bankruptcy is inevitable. No one should be surprised.

Please consider Dallas Stares Down a Texas-Size Threat of Bankruptcy.

Picture the next major American city to go bankrupt. What springs to mind? Probably not the swagger and sprawl of Dallas.

But there was Dallas’s mayor, Michael S. Rawlings, testifying this month to a state oversight board that his city appeared to be “walking into the fan blades” of municipal bankruptcy….

To continue reading: Dallas on Verge of Bankruptcy Due to Pensions; Just a Matter of Time (For Dallas, Houston, LA, Oakland, Chicago, etc)

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Posted in Collapse, Debt, Pensions

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