Lucas Oil moving

Out of Cali. The exodus continues.

https://www.roadracingworld.com/news/lucas-oil-moving-corporate-hq-out-of-california-93-losing-jobs/

 

Makes sense to me. Lucas has to pay higher salaries in CA due to high real estate prices. They can move back to Indiana and save big money.

 

and... if i say it i get banned. And that's got more to do with it i bet (what i can't say )
Imagine how much it costs to move a major company/corporation. It's more than just high salaries, and likely lots more than just high RE prices, as they could move to a less expensive part of CA.

 

Shit....

Buying a building and putting some office cubicles in it is easy.

Ever tried manufacturing in a state with its own air emissions board ?

Not only do I wish them luck on their move, I wish them massive luck on their old building.

 

Maybe they will move the MAVTV production to a local Indiana high school, where the product would be thousands of times better for far less cost.

 

Have any companies actually moved INTO Cali in the last decade or so? Seems it's all been one directional.

 

I guessing you mean because of oil contamination? From what I understand clean oil isn’t that big of a problem since it came from the earth anyway.

My old building was built as automotive use and had 7 in ground older style lifts. These have a storage tank/pit of oil to lift the big chrome cylinder with arms on top to pick the car up.

I went through several phase 1 reports for the initial purchase, a refinance, and then a sale of the building. None of them were that concerned with the in ground lifts. They were more concerned with the 3 stage clarifier that separates grease/oil from the regular water that goes into the sewer.

 

I was thinking the same thing.

For some of us weirdos, nice mild weather is an intoxicating thing, that is very hard to leave. I used to really want to leave and tried talking my wife into it when we first met. We even bought a nice house in Lakeway, a suburb of Austin. I didn’t get transferred then, but could have pushed for that transfer in later years and I chose not to.

I don’t think I will ever permanently leave, but could see owning a second house somewhere on a lake and close to grand kids.

 

Oil contamination maybe? The motorcycle industry was always based in SoCal (since the late 50s) because the Japanese companies ruled the roost for many years in the NA market. The magazines liked SoCal because they could ride all year and a bunch OEMs were nearby, so... But with print media dying and many m/c companies moving east the writing is on the wall, and Lucas is no different so why not move?

 

The “California tax” = the state income tax, sales tax, real estate tax, and the “tax-like” effects of high real estate costs and other high cost of living items. Depending on where you live, that can amount to 25-50% over the cost of living elsewhere.

 

I'll do my best to support Non-California companies....I'll buy Lucas Oil products now when possible.

 

Much of that is true, but I was really surprised when looking again at property in Texas last year, how high property tax is there. My California property tax is 1.2% of the original purchase price, plus it can go up a max of 2% a year. So I currently pay less than $5k a year, and my daughter in Texas pays more than I do on the house she bought 2 years ago. The neighborhoods we looked at, the tax rate was 2.4-2.7%. Texas property tax was more than my California property tax and state income tax I currently pay.

Now gas on the other had we really get ripped.

 

Yeah....Tejas property tax is high....but add up ALL the OTHER taxes that California jams up your ass...tally them up vs what somone in Texas pays and I bet the Texans come out money ahead.

Plus, in Tejas, if you are a Veteran with ANY percentage of disability....NO property taxes.

If I moved to Tejas, I'd be at the VA claiming SOMETHING from my military time...I'd go GET toenail fungus and tell them it's from my combat boots to see if I'd get 10 percent disability JUST to avoid the property taxes.

But, Texas is NOT on my list of places to move after my son graduates. I like "The Managment" but I just don't think Texas works for me as a destination. Que Cera Cera

 

NHRA recieved several million dollars to move their offices to Indiana. I'd imagine Lucas is getting paid pretty well. Good on the state for seeing the value in motorsport related companies.

 

I did hear on the radio last week, California is about to become the 4th largest economy in the world.

https://www.bloomberg.com/opinion/a...d-to-overtake-germany-as-world-s-no-4-economy

https://www.gov.ca.gov/2022/10/24/icymi-california-poised-to-become-worlds-4th-biggest-economy/

 

Lucas has a major presence in Indiana, especially Indianapolis. The Colts play at Lucas Oil Stadium, and the best short track in the country is at Lucas Oil Raceway Park (formerly IRP) the same site as the largest drag racing venue in the world.
Forrest should buy Putnam Park, repair turn 10, and get back to racing motorcycles there

 

Yea I heard Cali was 5th and Texas was 7th.

 

With skyrocketing purchase prices 1.2% would really hurt....new home buyers really get screwed. Seems like a weird way to damp down mobility.