Stocks edge lower: A weak housing report and not-so-hot earnings from Coca-Cola are partly to blame. Dow is down about 25 points in early trading.
LAX expansion approved: Airport commissioners signed off on more than 1.1 billion in construction contracts to overhaul the Bradley international terminal. They'll add 1 million square feet of space for ticket counters, security checkpoints and passenger lounges. (LAT)
Staples re-ups: The office supply giant's original naming-rights deal with AEG has been "extended in perpetuity." In 1999, Staples said it would almost $120 million to put its name on top of Staples Center for 20 years. No details on terms of extension. (LAT)
Another dip for gas: An average gallon of self-serve regular in the L.A. area is running just a little over $3, but with the recent spurt in oil, look out for higher prices. (EIA)
Sylmar gets corporate HQ's: Tutor Perini Corp., the general contracting giant, will be moving to the Valley - and the mayor makes the official announcement today. It's a man-bites-dog story - big corporate offices generally have been moving away from L.A. (Business Journal)
Peter Chernin back in game: News Corp.'s former No. 2 is counseling Comcast as it tries to take control of NBC Universal. Also advising is another for News Corp. executive, Peter Liguori. From the LAT:
Not only does Chernin have expertise managing entertainment companies, he also knows the top two Comcast executives, in part because they have neighboring vacation homes: Chernin owns a house near Comcast Chief Executive Brian Roberts' home on Martha's Vineyard. And his ski lodge in the exclusive Yellowstone Club in Montana is next door to one owned by Steve Burke, Comcast's chief operating officer.
Help for aircraft lease company: International Lease Finance will receive a $2 billion infusion from its parent, AIG. That's on top of an earlier $1.7 billion. From the WSJ:
AIG shelved plans to sell ILFC during the summer. That presented the leasing unit with the challenge of how to cover $2 billion in debt from commercial banks expiring on Oct. 15. Many industry officials thought ILFC would seek to roll over the debt but questioned where it could get financing on profitable terms after multiple downgrades of its credit rating.
Actor suspended: Seymour Cassel is out at the Screen Actors Guild for two years. An internal trial board found Cassel guilty of "conduct unbecoming a member" for sexual harassment of staff members at a guild Town Hall meeting in May. (Variety)
Kerkorian may cut holdings: The Bev Hills billion might reduce his stake in MGM Mirage, the big hotel and casino operator whose earnings are being hammered by the real estate downturn. No deal is expected until the company's CityCenter development is completed. (AP)
Lacter on radio: This week's business chat with KPCC's Steve Julian looks at the latest addition at L.A. Live and the airport commission's approval of a makeover at LAX. Also on kpcc.org and on podcast.