Thursday, February 27, 2014
Occidental Petroleum is Moving from Westwood to Houston
I have never understood why Occidental Petroleum had their headquarters in Westwood Village (located .75 miles from UCLA). Now it has been announced that it is moving to Houston. The news is saying that LA is only home to 3 of the Fortune 500 companies while New York City has many more. Why was OP in LA? I have the feeling that the answer was that Armand Hammer enjoyed living here. Should the new Mayor of LA worry that this signals that our great city is not sufficiently business friendly? I don't believe that Fortune 500 companies are the wave of our future. LA needs to position itself so that startup Internet companies view this as an exciting place to locate. What are the synergies between such startups and the celebrity culture and Hollywood?