These myopic projects are launched by businesses quite literally at the pinnacle of their powers, and they are a sure sign of hubris. It says right in the Bible, a new HQ goeth before the fall. In fact when I was a young business reporter at the LA Times, wearing a high collar and a skimmer as I banged out my copy on an ancient Remington, cigarette dangling from my lip, we always used to say that you should short any company that builds itself a new headquarters. If only you could short a PBS station...
PS--Surely there is fodder here for some graduate student, since of course I am relying on memory and anecdote. Where is the study analyzing the performance of companies that build new headquarters? It's a thesis waiting to happen.
Photo Credit: http://www.flickr.com/photos/carpeliam/1578386591, http://www.flickr.com/photos/paalia/3596228512/
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