Wednesday morning headlines

Another Northrop loss: Wash. Post reports that Boeing Co. has won that huge contract to secure the nation's northern and southern borders. The company's proposal centers on a network of 1,800 towers that would be equipped with cameras and heat and motion detectors. L.A.-based Northrop had been in the running, along with Lockheed and others. LAT has a short pickup of Post story but no mention of local angle.

H-P update: Isn't it appropriate that the story about snooping down boardroom leaks should now be reported with the help of countless leaks? Take your pick - the LAT is reporting that Attny. Gen. Bill Lockyer's criminal probe is going back to early 2005. The WSJ has e-mails suggesting that Chairwoman Patricia Dunn was directing the company's investigation into the leaks (though there doesn't seem to be evidence that she was aware that the snoops were getting phone records without authorization). The juiciest stuff comes from the NYT, which reports that the company considered having investigators pose as cleaning crews in the San Francisco offices of CNET and the WSJ.

School standings: Not that anyone reads these things, but the WSJ's annual survey of business schools is out and USC's Marshall School fell to 15th place from 10th position last year. The school got good marks for "overall polish and professionalism," but was nicked for "unrealistic salary expectations" and graduates "wanting to stay in L.A." UCLA's Anderson school was in 19th position, same as in 2005. This year's top business school was the University of Michigan's Ross School of Business.

Falling oil: Prices this morning have dropped as low as $60.61. But is it because there's plenty of supply or slower demand - or both? Kudos to BW's Mark Morrison, who signaled the prospects for lower prices in August.

Countrywide cuts: The Ventura County Star is reporting that Calabasas-based Countrywide Financial will be cutting 5 percent to 10 percent of its workforce over the next few months. It's not clear whether layoffs are involved, but there is a 60-day hiring freeze. The paper obtained a memo from new Countrywide president David Sambol, who outlined the cost-cutting effort.

Broadcom resignation: Talk about spin control - the company's CFO, William Ruehle, has "accelerated his retirement" in the midst of a government inquiry into how the company granted stock options. An internal investigation finds unreported option-related expenses to the tune of $1.5 billion. By the way, none of this is said to involve co-founders Henry Nicholas and Henry Samueli.

Grocery ban: The Long Beach City Council approves an ordinance that bans big-box retailers like Wal-Mart and Kmart from selling groceries. That covers fruits and vegetables but not alcohol or carbonated beverages. But it's academic at this point since the city does not have any superstores that carry groceries.

Zillow updates: Starting today, homeowners can change information about their homes that appears on the popular Zillow.com Web site. That includes stuff like room additions or a new pool that would boost the property's estimated value. There had been complaints that such additions hadn't been included by Zillow. But doesn't that run the risk of overstated claims?

CW confusion: Tonight is the launch of a new television network borne out of the failure of the WB and UPN. The CW , which is a product of CBS and Warner Bros., gets started with an episode of "America's Next Top Model." But viewers might get frustrated early on because the CW will air on KTLA (Channel 5), while a number of popular shows that remain came from the old UPN, which aired on Channel 13.

Stern responds:: The shock jock denies rumors about possible plans for a return to broadcast radio. Stern did tell listeners, however, that he has received three offers to go back. "Why would I? I've probably got 4 million people already [The N.Y. Post estimates about 1 million] who paid 13 bucks a month to hear me," he claimed. I bet he comes back n some fashion or form.