It’s not just families and retirees fleeing the government of New Jersey. Now, one of the state’s most dominant and historically tied corporations are leaving too, according to a report today by Reuters. Exxon Mobil is seeking to move its corporate registration from New Jersey to Texas, marking a symbolic shift for the company whose roots date back to the early days of the U.S. oil industry.
The proposal, disclosed in a proxy filing Tuesday, would redomicile the company in Texas, where Exxon’s headquarters has been located since 1989. If approved by shareholders, the change would make Exxon the latest major corporation to register in Texas instead of states traditionally used for corporate incorporation.
• Exxon Mobil plans to shift its corporate registration from New Jersey to Texas
• Move would align its legal home with its Texas headquarters
• Company has faced climate-related lawsuits, including a case filed by New Jersey
There's a great line from an old Ten Years After song that says "Tax the rich, feed the poor, 'till there are no rich no more."
That's what so many of these deep blue States are doing. They're creating tax and punish emvironments that big businesses don't have to put up with just because of proximity. But we all know if there's one thing Democrats don't do - it's learn from their mistakes. Juss' sayin'...
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