10/15/2018

News

Bay Area exodus: Here are the companies that have moved headquarters or opened offices out of California

Every week brings news of yet another Bay Area company that plans to move its headquarters out of the region — essentially saying enough is enough. Enough with drug-users shooting up across from Twitter’s San Francisco headquarters. Enough with walking by someone defecating in the street in the city’s Financial District, enough with avoiding confrontations […]

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The Transbay Transit Center has been shut down amid concerns about a cracked steel beam

The $2.2 billion Transbay Transit Center opened Aug. 12 after years of delays and cost overruns. Six weeks later, the Salesforce Transit Center, as its now known, has been shut down after “crews today discovered a fissure in one of the steel beams in the ceiling,” according to the Transbay Joint Powers Authority, the public […]

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Is California facing a tax exodus? Thanks to Trump’s tax law, more may start to flee

Even one of the most iconic figures of Bay Area business, Charles Schwab founder and Chairman Chuck Schwab, sees more people leaving California as a result of the tax changes, and not just at the upper end of the income scale. “A lot of companies will be moving their people out of here, unless something […]

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Households making six figures qualify as “low income” in San Francisco

The federal government is well aware of the steep prices Bay Area residents pay when it comes to just getting by. For four-person households in San Mateo, Marin and San Francisco counties, the threshold for “low” income housing bumped up to $117,400 per year according to the U.S. Department of Housing and Urban Development’s latest […]

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Why Hershey is uprooting this Bay Area food business for a headquarters move to Austin

The Pennsylvania-based chocolate and snack foods giant acquired the local jerky startup for nearly $220 million in 2015. At the time, Hershey said it was committed to keeping Krave’s headquarters in Sonoma.

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Last call for Campari’s S.F. headquarters as spirits giant relocates to New York

San Francisco will soon be drained of one of the world’s largest spirits companies with Campari America’s recent decision to relocate its Bay Area headquarters to the East Coast. The Campari Group subsidiary plans to vacate its offices in Levi’s Plaza this fall after signing a nearly 65,000-square-foot lease in New York City to accommodate […]

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Bechtel Group moving headquarters to suburban Washington, D.C.

San Francisco lost one of its most storied firms Thursday when Bechtel Group said it will move its headquarters to Reston, Va., by year-end after more than a century here. The loss of the San Francisco headquarters of the secretive engineering, construction and project management company means the Bay Area will lose about 150 jobs […]

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Are construction costs killing new Bay Area housing?

Even with apartment rents near record highs, rising construction costs and city fees are slowing down housing development around the Bay Area. In San Francisco, 4,500 new units were completed in 2017, down 14 percent for the year. Completions are expected to fall further based on the pipeline. . . . Developers are grappling with […]

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San Francisco’s restaurant industry vets dish on dire hiring picture and skyrocketing costs

Labor now accounts for more than 30 percent of the average restaurateur’s business, and some operators have increased prices by about 8 percent to help combat the additional expenses.

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California worse than every state but one for building housing

California ranks 49th in the nation for housing per capita, highlighting how seriously state policy makers need to take the state’s housing crisis, gubernatorial candidate Lt. Gov. Gavin Newsom said this month. The ranking comes from a 2016 report from McKinsey Global Institute titled “A Tool Kit to Close California’s Housing Gap: 3.5 Million Homes […]

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California brain drain could be on horizon, as fewer local kids get into state colleges

Overcrowded campuses and increased international popularity is forcing the University of California and California State University schools to turn away thousands of eligible local students, an exodus that could lead to a brain drain in the state later. The worry that tens of thousands of bright, talented Californians could be leaving the state for good […]

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Stat of the Week: $150,000 added to every new home

That’s the estimated cost of city fees tacked onto each new single-family home in Fremont. The Terner Center for Housing Innovation at the University of California, Berkeley, compared housing development fees in seven cities: Berkeley, Oakland, Fremont, Los Angeles, Irvine, Sacramento and Roseville. Fremont topped for both single-family homes and for multifamily units at about […]

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San Francisco has some streets dirtier than the world’s filthiest slums, new report finds

The City of San Francisco has more than 153 blocks with conditions so unsanitary that they rate close to the worst slums in India, Brazil or Kenya, a new report has found. NBC Bay Area studied a 10-mile swath of downtown San Francisco, including tourist attractions like Union Square and several of the city’s biggest […]

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Pandora slashes staff, says Oakland is too expensive so it will expand in Atlanta

Oakland-based Pandora Media said Wednesday that it will cut 5 percent of its workforce and expand its business in Atlanta, because the Southern city is more cost effective than growing the brand in the East Bay.

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Why California’s gasoline prices may spike to $4 a gallon by summer

California drivers could see the price of gas soar to $4 a gallon by May, a price point that hasn’t happened in the state since July 2014, analysts said this week. Patrick DeHaan, head of petroleum analysis at Boston-based GasBuddy, told Bloomberg on Thursday that with gas prices at their lowest for the year, they […]

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