Tuesday morning headlines

Stocks edge higher: Just four more days until the December jobs report. Dow is up about 65 points in early trading.

Oscar nominations: As expected, "Avatar" and "The Hurt Locker" lead the way with nine nominations each. (NYT, The Wrap)

Getting pedals fixed: Toyota is asking customers to wait for a certified letter before making an appointment. Unless, that is, they start noticing that their vehicle exhibits worrisome symptoms. Getting around to everybody will take weeks. (LAT)

L.A. budget cuts advance: A council committee signed off on a plan to lay off up to 1,500 workers and cut spending across the board - including for police and fire. Up to now, public safety had been off the table, but Councilman Bernard Parks said it's too big a portion of the overall budget not to be included. (Daily News)

Sony layoffs: All told, 450 people, or 6.5 percent of the workforce. Biggest impact will be in the home entertainment and information technology divisions. It's the second time in a year that Sony Pictures has cut its workforce. (LAT)

Super Bowl sell-out: CBS has sold its final spot for the big game. There are close to 70 commercials, some of them topping $3 million. (AP)

Stunning ad decline: Newspaper classified revenue is down 70 percent over the last 10 years, from $19.6 billion in 2000 to roughly $6 billion in 2009. Wowser. (Poynter)

Film Company IPO: The indie movie producer is pushing ahead with its offering sometimes this month, looking to raise about $90 million. Film Company has produced just two movies. (LAT)

Gas prices dip: An average gallon of regular in the L.A. area is $3.025, down a couple of pennies from last week, according to the government's report.

Lacter on radio: This morning's business chat with KPCC's Steve Julian looks at L.A.'s deteriorating budget situation and the struggles faced by small banks. Also on kpcc.org and on podcast.


More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner


Advertisement
Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook