A suffocating regulatory climate has a lot to do with the state's bad business numbers. Writing in the California Political Review this summer, Andrew Puzder, chief executive of California-based CKE Restaurants—which operates 3,000 eateries nationwide—called his company's home state "the most business-unfriendly state we operate in."
CKE, which runs Hardee's and Carl's Jr., has stopped opening restaurants in California, where the regulatory process can take up to two years. But it plans to open 300 in Texas, where the start-up time can be six weeks and opening costs $200,000 less than in California.
Comment: There's more to job creation than low taxes .... legal and regulatory reform is important too.