Monday, December 12, 2011

Rational people, not government apologists, make rational choices.

Waste Connections to move headquarters from Folsom to Texas

Waste Connections, Inc., the Folsom trash-hauling company, said today it's moving its headquarters to The Woodlands, Texas.

The company, one of the fastest-growing public companies in the Sacramento area, has been threatening for months to move, saying it was unhappy with the business climate in California.

"Our expanding geographic reach and expected continuing growth required us to make an objective assessment of the appropriate location for our corporate headquarters. The Woodlands offers our employees an attractive, lower cost, and more centrally located community well serviced by two major airports," said Ronald J. Mittelstaedt, chairman and chief executive, in a press release.

"Every corporate employee has been offered the opportunity to relocate, and almost all are expected to move."

Wast Connections employs 120 to 130 workers at its headquarters. It is the largest publicly-held company based in the Sacramento area, as measured by its $3.6 billion market capitalization.

The company said it will begin the relocation process this month but won't complete the move until next September.

Mittelstaedt added, "We will be forever grateful to our many friends and supporters across California, and we remain committed to continuing our corporate and employee-led philanthropic support within the local communities where we operate."

Waste Connections expects to spend $15 million on the move next year. It could take a loss on its office lease in Folsom.

The company's stock was down 30 cents to $32.28 on the New York Stock Exchange.


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