Clarification.  Oracle is moving their world headquarters from Texas (not California) to Nashville. They are continuing to shutdown operations and sell off properties in California – the  state where they were founded – as well.

Stop us if you’ve heard this a hundred times from the Hotline: Another iconic high-tech icon is high-tailing it out of California. CNBC made the alert last night:

Oracle is moving its world headquarters to Nashville

As we noted in the Hotline on Monday, Silicon Valley is being steadily drained of its tech-industry supremacy.

Oracle says that they are moving to Tennessee because Nashville is a healthcare capital and the firm is big into healthcare services.  CEO Ellison added that Nashville’s a “fabulous place to live.”

Left unsaid is that Tennessee has no personal income tax and California’s rate can go up to 14%.

Hmm, you’re a billionaire and you and your company can pay up to a 14% tax rate or none at all. Gee, that’s a tough call.