Tuesday morning headlines

"Skeptics' rally" continues: Yes, that's what they're calling it. From the WSJ:

Part of the fuel for the broad-based investment rally is the trillions of dollars in debt-financed stimulus that the world's governments and central banks have been pouring into economies, in their effort to end the deep recession. The money enhances corporate profits, making stocks appear more attractive. Since businesses can't put it all to productive use, some finds its way into asset markets. The huge gains have left investors surprisingly unsatisfied. Enormous though it is, the investment boom since March has been a skeptics' rally -- fed by money managers who feel they must make risky bets in order to keep up with the the market, but who don't like what they see.

Novel CEO defense: Ex-KB Home CEO Bruce Karatz, preparing to go to trial on fraud charges early next year, commissioned a public opinion poll that found most prospective jurors would not give him a fair shake. From the LAT:

U.S. District Judge Otis Wright brushed aside the opinion survey, which he said was conducted in an "inherently biased" way. "I gave it no weight whatsoever," Wright said. He added, however, that [Karatz's attorney] was "100% correct" that the typical person on the street would probably be prejudiced against a CEO accused of fraud. Wright said he would therefore grant defense requests for special screening of the jury pool, including lengthy questionnaires and having some prospective jurors answer questions out of the presence of other prospects.

Holiday lite: Air travel will be down 4 percent from last year, according to the Air Transport Association, while the Auto Club says that 46 percent of those surveyed plan to spend the same amount on holiday travel as last year and 36 percent plan to spend less. (LAT)

Gas still steady: Prices were virtually flat from last week, with the average gallon of regular in the L.A. area at $3.021, according to the government's survey.

Another Disney departure: This time it's Mark Zoradi, president of the motion pictures group. Zoradi, who oversaw the worldwide marketing and distribution for all Disney films, is among the executives who have stepped aside following the ouster of Disney Studios Chairman Dick Cook. (The Wrap)

Hearing device company sold:Valencia-based Advanced Bionics, which was founded billionaire biotech investor Al Mann, is being sold to Swiss hearing aid company Sonova Holding for $489 million. From the LAT:

The company's devices are implanted in the inner ear and rely on processors, transmitters and electrodes that translate sounds into electrical signals for those with hearing loss. The tiny pacemaker-like devices and accompanying system cost roughly $25,000 each.

L.A.'s legal bill: You're looking at $137 million shelled out over the past two years - nearly two times more than the previous two-year period. A study also found the amount of money Los Angeles County spent on lawsuit verdicts, settlements and outside counsel rose from $138 million to $190 million in the same period. (Daily News)

Concerts still strong: Both Live Nation and Ticketmaster reported solid third-quarter results - that's during the heart of concert season - and the two locally based companies are expected to complete their merger by Q1 (barring any antitrust roadblocks). (Tech Trader Daily)

Lacter on radio: This week's business chat with KPCC's Steve Julian looks at the credit-related problems faced by Asian American banks. Also on kpcc.org and on podcast.