Global Markets Recap
New hero Elon Musk is back in the news today after threatening to bolt California over the extended quarantine/lock-down that has closed his car company, Tesla. He Tweeted: “Frankly, this is the final straw. Tesla will now move its HQ and future programs to Texas/Nevada immediately. If we even retain Fremont’s manufacturing activity at all, it will be dependent on how Tesla is treated in the future. Tesla is the last carmaker left in CA.”
This is democracy in action, really, because it touches all of us somehow. As a business, naturally, Tesla is perfectly entitled to pick where to run their corporate affairs, and if California won’t cooperate with what they need to remain viable, Mr. Musk should pick up & leave.
Employees who want to work can go with him – or stay behind and wait on government checks. No one is making them go, as millions seek safe jobs. America doesn’t have the dry powder to feed 300 million indefinitely, and those who want to work should – even if they have to move to find a meaningful paycheck.
For his part, California Governor Gavin Newsom can close his state for as long as he deems fit. He’s been duly elected; he should do the job the way he thinks he can protect people who put him in office. Next election, if voters want change, they can pick someone else.