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And still many Atlanta votes with zero reason as to why
Hopefully some of the Atlanta posters give a reason why (why I like having it to where you can see who voted). Atlanta is definitely a business center and hosts a ton of conventions. Wish the Atlanta posters could expand on that.
Atlanta and Houston (IMO) are top business centers. However, I think Houston is rising above the rest as a top destination for businesses.
I'm so confused. All along, I thought Houston had a diverse economy compared to Atlanta (that's how people advertised it). I thought Atlanta was too tied to the housing industry (niche), and that's what caused it to enter it's current state. Right? So, can someone please elaborate on the subject for me because I'm so confused?
Atlanta and Houston (IMO) are top business centers. However, I think Houston is rising above the rest as a top destination for businesses.
I'm so confused. All along, I thought Houston had a diverse economy compared to Atlanta (that's how people advertised it). I thought Atlanta was too tied to the housing industry (niche), and that's what caused it to enter it's current state. Right? So, can someone please elaborate on the subject for me because I'm so confused?
Not sure on the housing thing, would think that basically of these DFW, Houston, and Atlanta would be about equally tied to this industry, they all added about the same amount of people over the last decade.
On Houston it is diversifying but at best would third among this list in terms of diversied economy, not bad or good but houston is more key industry focused than some of the others.
Also for it's size (LA is the outlier among these, the readst of the metros are ~ the same size give or take a million) Atlanta's output is signifcantly smaller when compared to philly, DFW, or Houston.
I think Atlanta has a good econimic position but to me regardless of the criteria Atlanta is probably 5th on this list yet continues to get blind votes as the number one, clearly boosterism. For the record I voted LA as it is stll the largest economy of all these by far
It looks like Forbes did not include The Vanguard Group because they do not report revenue due to their client owned structure. They are unique because the clients they serve are their owners, so they don't disclose revenue to Forbes (the private company list isn't perfect due to this, but in the ballpark).
Philadelphia and Los Angeles are the only two in this thread that are the headquarters of very large and powerful investment management companies/mutual funds.
The Vanguard Group of Philadelphia controls 1.4 trillion in assets.
American Funds (subsidiary of the Capital Group Companies) of Los Angeles controls 900 billion in assets.
PIMCO of Newport Beach, a suburb of Los Angeles, controls 240 billion in assets.
-These three funds are in the top 5 in the country and are vastly larger than any other fund. Atlanta, Houston, and Dallas do not have large mutual fund companies.
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Los Angeles has large private equity companies in addition to Platinum Equity.
- Oaktree Capital Management in Los Angeles controls $76 billion in assets.
- Ares Management controls $37 billion in assets.
- Colony Capital controls $30 billion in assets.
- Yucaipa Companies controls $12.5 billion in assets.
- Leonard Green and Partners controls $9 billion in assets.
- Brentwood Associates controls $2.3 billion in assets.
- Freeman Spogli and Co controls $2 billion in assets.
- Clarity Partners of Beverly Hills controls $1 billion in assets.
- Riordan, Lewis, and Haden controls $450 million in assets.
Dallas-Forth Worth has:
- Highland Capital Management controls $35 billion in assets.
- Lone Star Funds controls $24 billion in assets.
- HM Capital Partners that controls $1 billion in assets.
Houston has First Reserve Corporation with 21.5 billion in assets.
Atlanta has Roark Capital Group that has $1.5 billion in assets.
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
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Quote:
Originally Posted by A&M Bulldawg
Atlanta and Houston (IMO) are top business centers. However, I think Houston is rising above the rest as a top destination for businesses.
I don't think Houston rises above the rest at all, in some ways yes, but in some ways it trails some of the ohers also, nor do I think that there is a clear cut business center. Houston specializes in somethings more so than other things, and that does make it a lasting business center.
I think you're underrating the impact for Los Angeles & Philadelphia here.
80% of the Nations Pharmaceutical companies are based in the region of Southeast PA & South New Jersey, all of that is within the Philadelphia area. Business clients that work in that industry wont get nearly as much exposure of benefits from any of the other cities on the list as they would in Philadelphia.
Film Industry with Los Angeles. You cant diminish that, it brings in a lot of investments and opportunities for other industries too. You wont get as much media exposure of film related anything in anywhere else on this poll other than Los Angeles.
Same goes for both aeronautics in Houston & energy in Houston. It's just something you cant replicate elsewhere.
Quote:
Originally Posted by A&M Bulldawg
I'm so confused. All along, I thought Houston had a diverse economy compared to Atlanta (that's how people advertised it).
Besides Finance, name one industry that Houston doesn't have?
It has them all, yes some take up a larger share than others, but 76% of its economy is diverse, that's more so than Washington DC, and just a bit less than New York. And no one advertises Houston as anything, its the Energy Capital and that's the only thing about its economy that is advertised mostly, in my opinion.
I don't think Houston rises above the rest at all, in some ways yes, but in some ways it trails some of the ohers also, nor do I think that there is a clear cut business center. Houston specializes in somethings more so than other things, and that does make it a lasting business center.
I think you're underrating the impact for Los Angeles & Philadelphia here.
80% of the Nations Pharmaceutical companies are based in the region of Southeast PA & South New Jersey, all of that is within the Philadelphia area. Business clients that work in that industry wont get nearly as much exposure of benefits from any of the other cities on the list as they would in Philadelphia.
Film Industry with Los Angeles. You cant diminish that, it brings in a lot of investments and opportunities for other industries too. You wont get as much media exposure of film related anything in anywhere else on this poll other than Los Angeles.
Same goes for both aeronautics in Houston & energy in Houston. It's just something you cant replicate elsewhere.
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
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I don't consider Texas to be in the South. Don't care what the devil the US Census, AlGreen, TexasReb, jluke, or anyone else on this website have to say about it.
Atlanta is a great city, done a lot of good things for itself, the country, maybe the world, but the Olympics have nothing to do with here on out, whatever the Olympics did for Atlanta was like 10 years ago.
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