I understand Governor Schwarzenegger uses Dimensional Fund Advisors (DFA) as one of his personal investment options.
Rex Sinquefield and David Booth are co-founders of DFA and David Booth is Chief Executive Officer, and Chief Investment Officer of DFA. In 2004 then Governor of California Arnold Schwarzenegger appointed David Booth to the California Commission on Jobs and Economic Growth. In August of 2006 David Booth announced that significant operations and 25 employees of DFA, would be moving to Austin, TX. Mr. Booth cited several reasons for the decision to move to Austin among them a more central location, good transportation services and connections, the quality of the workforce, the desirability of the area as a place to live and work, and the availability of economically priced workspace.
An August 2006 announcement in the Austin-American Statesman provides more insight into the motivation for DFA’s decision to move to Austin:
Sinquefield retired as co-chairman last year and moved to Missouri but remains on the board. In an April interview with the St. Louis Post-Dispatch, Sinquefield said he was helping the company with the move and that rising costs in California played a role in the decision to relocate. The region "is becoming a third-world country with increasing tax rates," Sinquefield said. "We're moving the company to Austin, Texas, where there is no personal income tax."
Since his retirement Rex Sinquefield has been very active in politics in Missouri. He has founded an influential public policy institute named The Show-Me Institute , and he has established a Chess Club in St. Louis.
In November of 2006 David Booth donated 300 million dollars to his Alma Mater, the University of Chicago - Graduate School of Business.
In June of 2003 another high profile and economically savvy business left California - citing high taxes and high cost of living / employment costs as reasons for the move. Long time resident of Rancho Santa Fe, CA, Arthur Laffer moved his La Jolla California based economic consulting firm, Laffer Associates, to Nashville, TN
There’s a very good article about Rex Sinquefield in today’s Wall Street Journal Editorial / Opinion section at: http://online.wsj.com/article_email/SB100014240529702038974045780785519369681...
If you are unfamiliar with who Rex Sinquefield is here’s the text of a document I wrote in 2009:
You Should Never Argue With Jerry Brown?