I was wrong, Jeff Bezos made right decision for Amazon shareholders: Ric Edelman

At last, the results are in. Not the midterm election results. I’m talking about Amazon’s selection of Crystal City, Virginia, and Long Island City, New York, as the homes of its HQ2 sweepstakes.

Many are condemning the decision and, hey, I was a big critic before anybody. On this news outlet back in April, I encouraged Jeff Bezos to nix the entire list of 20 finalists — all major metropolitan areas — in favor of a remote, depressed location where he could truly do something transformative for a region sorely in need of it.

But Jeff ignored my plea, and he was right to do so. In fact, he made the right decision for the shareholders of Amazon. And that’s who he works for.

Yeah, I’m talking about you. Indeed, if you own a stock mutual fund, perhaps in your 401(k), you may well be one of those very shareholders. Amazon is held by one in three of U.S. stock & allocation funds, according to data from FactSet Research Systems & Morningstar Direct. So quichyerbitchin, as Ann Landers used to say, and celebrate.

More:Men's club: New HQ2 projects offer Amazon chance to stop excluding and underpaying women

Amazon HQ2 near Washington 'a win for us and our whole region': Today's talker

Amazon's HQ2 could have massively negative impact in Virginia

By selecting communities that are right across the rivers from Washington and Manhattan, Amazon is planting its new H2Qs within easy reach of the nation’s financial and governmental centers. Both cities have huge numbers of qualified employees. Both have not one, not two, but three airports to serve them. And both locations are highly desirable places to live.

And by selecting these highly established locations, Jeff gets to move in without delay. No need to waste years, at a cost of billions of dollars, developing new campuses. Instead, both locations have plenty of office space available, so new Amazon employees can move right in and get to work growing the already-enormous company. Not only does Amazon save billions of dollars in development costs, both cities are giving the company massive subsidies that will save Amazon billions of dollars more.

While others whine about Amazon’s choices, the only sound shareholders should be hearing is ka-ching!

Congratulations to Jeff Bezos for doing what he is paid to do — looking out for the best interests of his shareholders.

Ric Edelman is a founder and chairman of financial education and client experience at Edelman Financial Engines.