Chevron CEO: California a Bad Place to Do Business

John Watson the CEO of Chevron reports:

for the first time, more people and businesses are now leaving California than moving here. Eighty-four percent of business owners say they wouldn't locate in California if they weren't here already. Californians pay some of the highest tax rates in America, yet somehow the state remains in a chronic fiscal crisis. In order to return California to prosperity, we need to seriously address some very difficult issues.

Ouch.