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Stocks open higher: Abu Dhabi is helping bail out Dubai, Citigroup says it will pay back the government, and Exxon is acquiring an energy company. Dow is up in early trading.
About that Citigroup repayment: It'll pay back the $20 billion government loan by selling stock and issuing other capital as early as this week. (NYT)
Ex-TCW star starts own firm: Jeffrey Gundlach, who was ousted from the L.A. money management firm in a power struggle, will be getting help from billionaire Howard Marks, chairman of the Oaktree Capital investment firm. Gundlach's firm will be called Doubleline. (DealBook)
L.A. hotels still weak: The average daily rate in L.A. County for October was $140.84, down 13.4 percent from a year earlier. Average occupancy was 73.1 percent, down from 76.3 percent. The steepest rate drop was in Bev Hills. (LAT)
Feds looking at Stanley Chais: He's the Bev Hills money manager who is accused of arranging a feeder fund for Bernie Madoff's operation. U.S. Attorney's office says it's opened a criminal investigation. (LAT)
Hollywood sells Hollywood?: Weird - City Councilman Richard Alarcon wants to create a film commission that would promote L.A. to the entertainment industry. But isn't the entertainment industry centered in L.A.? (Daily News)
Tiger's West Coast address: OC Register found a Corona del Mar condo that's linked to Woods' property in Orlando. It was purchased in April 2004 for $3 million.
Realtor Mark Whitehead says tax records link it to Woods' Orlando property, and neighbors and others we caught up with on the block on Saturday say they've seen Woods at the Corona del Mar condo at various times: Jogging, loading golf clubs into an Escalade, limping around after his knee surgery last year, and spending time with his wife and children.
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.