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In 2015, a large number of Boeing engineers were being forcibly relocated to Southern California.
The announcement was made in 2013, most of the transfers occurred in 2014-2015 and this was for commercial aviation services. The groups moving out are in defense.
BCA groups in, BDS groups out, the number of people doesn't change much. I think it's actually cheaper to employ engineers in Southern California than the Puget Sound because they aren't unionized (but more expensive than every other place).
I work in BCA. The picture is fine so far (other than the high cost of living).
Boeing is a perfect example of LuvSouthOC's point that Southern California under-punches for corporate headquarters given it is the 2nd largest population center in the country. Despite 14,000 employees in California and being the 3rd largest state for Boeing, few of the top corporate executives are based in California. California is a "branch" state in the overall corporate structure where employees are answering to people in Seattle, Chicago, Arlington, etc..
Boeing reports through four operating segments.
Overall corporate HQ: Chicago
Commercial Airlines HQ: Seattle
Defense, Space, and Security HQ: Arlington
Global Services: Plano, TX
Capital Corp: Seattle
So the best Southern California ranks in the Boeing hierarchy is the Boeing Space and Intelligence Systems complex in El Segundo reports to the Boeing Space and Missile Systems HQ in Arlington, VA (Jim Chelton) which reports to the Boeing Defense, Space, and Security HQ in Arlington (Leanne Caret), which reports to the overall CEO/CFO based in Chicago, IL. Four levels down in the corporation.
Hence in all of the executives the Boeing Corporation lists as top leaders on its own website, 2 are based in So Cal: Boeing: Executive Biographies
Even most of the movie studios have been bought out and the center of power has shifted somewhat. The Warner Brothers CEO in LA has to answer to the Time Warner Execs in New York City that own them, the Universal Pictures exec in LA has to answer to the NBCUniversal division based in New York City who then answers to the Comast CEO in Philadelphia who owns them, the 20th Century Fox exec in LA has to answer to the 21st Century Fox leadership in New York City than owns them, and Paramount in LA has to answer to the Viacom execs in New York City. Columbia Pictures reports to Sony leadership in Japan. Only Disney remains a truly Southern California based company where the top leadership is based here, has complete control, and doesn't have to answer to higher ranking leadership elsewhere.
The lack of corporate HQ's that match the size of the metro are just a partial part of the puzzle for why the Los Angeles metro ranks 13th and the Inland Empire 19th among the top 25 metro areas in the country for median household income, despite the high cost of housing. https://www.census.gov/library/visua...ncome-dot.html
OC and LA are sorely lacking in big companies. Sure, we are not nearly as bad off as San Diego, but compared to the Bay Area, we look like slouches. That said, OC is supposed to be an excellent place to launch start ups. They have been exploding. No doubt lots of millennials are part of that. It doesn't hurt that OC is an amazingly attractive place to live, of course, and obviously that is probably what the big draw is.
Irvine is the bit magnet, but increasingly, even little Aliso Viejo has gotten in on the act in a big way.
Boeing is a perfect example of LuvSouthOC's point that Southern California under-punches for corporate headquarters given it is the 2nd largest population center in the country. Despite 14,000 employees in California and being the 3rd largest state for Boeing, few of the top corporate executives are based in California. California is a "branch" state in the overall corporate structure where employees are answering to people in Seattle, Chicago, Arlington, etc..
Boeing reports through four operating segments.
Overall corporate HQ: Chicago
Commercial Airlines HQ: Seattle
Defense, Space, and Security HQ: Arlington
Global Services: Plano, TX
Capital Corp: Seattle
So the best Southern California ranks in the Boeing hierarchy is the Boeing Space and Intelligence Systems complex in El Segundo reports to the Boeing Space and Missile Systems HQ in Arlington, VA (Jim Chelton) which reports to the Boeing Defense, Space, and Security HQ in Arlington (Leanne Caret), which reports to the overall CEO/CFO based in Chicago, IL. Four levels down in the corporation.
Hence in all of the executives the Boeing Corporation lists as top leaders on its own website, 2 are based in So Cal: Boeing: Executive Biographies
Even most of the movie studios have been bought out and the center of power has shifted somewhat. The Warner Brothers CEO in LA has to answer to the Time Warner Execs in New York City that own them, the Universal Pictures exec in LA has to answer to the NBCUniversal division based in New York City who then answers to the Comast CEO in Philadelphia who owns them, the 20th Century Fox exec in LA has to answer to the 21st Century Fox leadership in New York City than owns them, and Paramount in LA has to answer to the Viacom execs in New York City. Columbia Pictures reports to Sony leadership in Japan. Only Disney remains a truly Southern California based company where the top leadership is based here, has complete control, and doesn't have to answer to higher ranking leadership elsewhere.
The lack of corporate HQ's that match the size of the metro are just a partial part of the puzzle for why the Los Angeles metro ranks 13th and the Inland Empire 19th among the top 25 metro areas in the country for median household income, despite the high cost of housing. https://www.census.gov/library/visua...ncome-dot.html
Defense, Space and security are headquartered in Arlington, VA so that the executives can be close to DC . Nothing's getting designed or built there. The same goes for Plano, TX. Global Services is really spread out. Plano, TX is just executive offices.
St Louis, MO is where fighter planes are built (not DC). They aren't second fiddle to anyone. St Louis could break off and be their own self sustaining fighter plane manufacturing company. It just happens to be the case that the defense headquarters is in Washington DC for obvious reasons. The same is true for satellites in El Segundo. BCA Advanced Concepts is still in California (although R&D groups are not as essential as groups that provide immediate revenue to the dismay of super smart PhDs everywhere); the people that work here are considered "the best of the best" and are still in California.
What drives house prices is local incomes. If a company staffs 14,000 engineers at $120k/year in a location, it doesn't matter if the executives happen to live in a different neighborhood. Those people go out and bid up housing prices the same as they would otherwise. As Boeing has gutted the defense side of the house in SoCal, they have increased headcount in satellites and BCA leaving the total headcount close to the same as before. Will there be an exodus at some point? Perhaps, but it hasn't started yet.
Just an intuitive observation: one key feature of SoCal seems to be a disparity between the upper class, the upper middle class and everyone else.
The upper middle class seems to be just as wealthy if not wealthier than the upper middle class elsewhere. Due to the scarcity of housing, these are the people that set the price of houses. The middle is barren which is why the median is so low.
California Among Best States For Millennials To Live
A new study from WalletHub says California is in the top half of states that are good for millennials and second in quality of life overall. Research analyst Jill Gonzales says despite some economic challenges, California offers a higher quality of life than they might find in other states.
"But, when it comes to economic health, [there's] a lot of job competition. Affordability is very hard to come across, that's why a lot of millennials in California are actually still living with their parents," Gonzales said.
The high cost of living in California also comes with a higher-than average paycheck. WalletHub's survey showed that Golden State paychecks for millennials rank at 5th in highest earnings in the nation. All that sunshine we get must also be good for a millennial's mental health, as the study showed that millennials who live in California are also less likely to be depressed.
Overall, the Golden State ranked around the middle of the pack at 22nd for millennials to live, while Washington D.C. was ranked 1st best. New Mexico was dead last in WalletHub's survey.
Gonzales says, with all its advantages, the housing crisis in California does take its toll on residents, with the state ranking third worst for millennial homeownership rates. California was only behind Hawaii in highest housing costs. Couple that with high unemployment, and underemployment, and the economic headwinds against 18-34-year olds in California are strong.
"It has one of the unemployment rates at around 12 percent for the population aged 18-34-years old. Underemployment rate is still very high, around the same - third highest in the country," Gonzales said.
If you're looking for a change of scenery (or maybe own a home someday), WalletHub's survey showed that Minnesota, West Virginia and Indiana have the highest rates of millennial homeownership.
Single millennials are the largest group of new arrivals to Aliso, and projections are that they and empty-nesters will soon dominate the city.
I guess millennials come to work in tech and bio-med, and empty-nesters will, and this is just my hunch, come because the city is close to the coast and, due to its small size, is very easy to negotiate.
Perhaps, the fact that Aliso has mostly attached housing units also appeals to people who don't want or need much space; and no longer want to be bothered with the upkeep of a SFR. I don't know.
Well the post in #936 copypasted from an article that described California as a good place for Millennials to live and then added an emoji. I guess I'm just not clear on what people's opinions are.
95 pages and 900 post on a thread started two years ago? I'm good thanks.
I read a few pages and the majority of posters seemed to not be Millennials yet seem to be very keen on making lots of generalized statements about them which I found to be quite odd.
I think Millennials definitely are buying homes but they are just forming families later in life and therefore dont buy them until they are older than previous generations. I would say about half of my cohort of friends has bought in Socal and all have dual professional incomes and are married. My friends who are not married have not bought yet, with the exception of one couple who moved back here less than a month ago. They will probably buy in the next 12-24 months.
Maybe you should read the thread. No one said that some millennials could not buy here, it's just that relatively few are able to. As for your anecdotes, they are likely valid, but that doesn't change the fact that OC is graying and our young people are fleeing to the I.E. or other more affordable places. No one is rejoicing over that fact.
That piece by Wallethub is interesting but wasn't an attempt at "invalidating the thread". Sure life is good in California, so why shouldn't it be so for millennials too? But that fact doesn't change the affordability issue in OC or other expensive areas in California.
Last edited by LuvSouthOC; 04-15-2018 at 04:40 PM..
Maybe you should read the thread. No one said that some millennials could not buy here, it's just that relatively few are able to. As for your anecdotes, they are likely valid, but that doesn't change the fact that OC is graying and our young people are fleeing to the I.E. or other more affordable places. No one is rejoicing over that fact.
That piece by Wallethub is interesting but wasn't an attempt at "invalidating the thread". Sure life is good in California, so why shouldn't it be so for millennials too? But that fact doesn't change the affordability issue in OC or other expensive areas in California.
Maybe millennials and future young americans need to understand that in order to live in a desirable area, you need to be motivated in getting an education to prosper in life. Not to expect affordable housing and government handouts. I'm quite satisfied when non-contributing members of society get priced out. They are an inconvience to be around. If you can’t afford to live in California then earn more money of GTFO.
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