The Great Exodus of Business from California with CEO of CKE Restaurants, Andrew Puzder (GNSD)

November 10, 2011, 12:00pm

Summary:

CEO of CKE Restaurants, Andy Puzder, spoke with GNOC members on Thursday, June 23, 2011 at True Foods in Newport Beach. His focus was the comparison between building a business in California versus Texas and how California is too restrictive in the process. Because of this, Puzder will be packing up his business and moving to Texas where he can run his restaurants in a more hospitable state.

Detail:

Here are the three key takeaways:

• California does not allow you to build big business. (It takes 8 months just to open a restaurant in California whereas in Texas it takes about 6 weeks.)
• The taxes on businesses in California are too large.
• There are too many regulations on businesses in California such as mandatory rest breaks, no overtime pay, and required eight-hour workdays, all of which discourage a strong work ethic.