Quick hits today:

Fox Business Network launches
Neil Cavuto is managing editor and on the air. Romenesko

Jay Leno doesn't want to go
Fears at NBC that he could take "The Tonight Show" and jump to a rival rather than give way to Conan O'Brien. LAT

Schwarzenegger signs law that benefits AEG
Owner of Staples Center can apply for state dollars earmarked for affordable housing-related programs. The governor also signed a bill increasing by $3 the fee that his recall supporters called the car tax, and a bill sending $600 million to the LAUSD for construction. . LAT, DN

Second coming of Richard Alatorre
The former councilman's recent work as an informal advisor to Mayor Antonio Villaraigosa and unregistered advocate at City Hall for companies is explored by David Zahniser and Ted Rohrlich. LAT

Upside of the Fabian Nunez revelations
Gregory Rodriguez celebrates the end of the Latino Democratic politician as working class hero myth. LAT

Phone tax not popular
Neighborhood councils aren't sold on the mayor's plan yet. DN

Patterico still on the case
Blogger keeps up heat on LAT for taking down a blog post about Edwards denying an affair.

First-person crime story
Times reporter Kim Christensen was the victim of check forging.

Another piece on working at Gawker
New York magazine pokes around the blog empire, and editor Nick Denton responds. Romenesko