Friday morning headlines

Market slows down: Sluggish trading so far, with the Dow on pace to finish out May with the biggest monthly drop since February 2009.

Gas prices tumble: The average price of regular in the L.A. area fell almost 7 cents in the last week, to $3.030, according to the Auto Club. That's still 38 cents higher than a year ago.

Getaway Friday: The top Memorial Day weekend destinations, according to the Auto Club:

1) San Diego (prepare for a parking lot on the 405)
2) Las Vegas
3) Grand Canyon
4) San Francisco
5) Central Coast

Less support for drilling: About 50 percent of those surveyed in a LAT/USC poll oppose new drilling off the California coast, while 43 percent support it. In recent years, voters had increasingly favored new drilling.

Might Disney sell ABC?: The topic came up in that crazy insider trading scheme in which a Mouse House secretary and her boyfriend claimed that the company was in advanced discussions to sell the network. Disney denied it, but the stock took off nonetheless (and then fell). From Reuters:

Some believe the timing is right amid an advertising rebound and prospective new revenue for broadcasters from transmission deals with cable operators, which should boost ABC's value. And, the costs of producing original series and running a news operation continue to climb.

Suspicions about Kenneth Starr: Quite a few celebrities pulled out of the money management firm before federal authorities swooped in. Starr is accused of fraud and money laundering. From the NY Post:

In the last few weeks, several clients called Starr to demand their money back. But he was giving them only half -- one client got only $250,000 of the $500,000 demanded, sources said. Other celebs got out earlier. Director Mike Nichols cashed out because he had suspicions, sources said. So did writer-director Nora Ephron. Also getting out early were director Martin Scorsese and playwright Neil Simon.

New Hollywood financing: Village Roadshow Pictures has closed a $1 billion credit facility in a deal arranged by JPMorgan Chase, Rabobank and others. It could be a sign that the lending channels are opening up. (NYT)

Simon Fuller goes after entertainment company: The "American Idol" creator plans to submit a $600 million bid for CKX, which owns the "Idol" franchise, along with other shows. (WSJ)

Mercury on the way out?: Ford's top executives are preparing a proposal to kill the brand. Fewer than 100,000 Mercury cars and trucks were sold last year. (Detroit Free Press)

Palin gets 75K for speech: Her appearance next month at a fundraiser for a Cal State Stanislaus foundation has created an uproar. (LAT)

Buying an auto factory: It'll cost electric car maker Tesla about $42 million for the shuttered NUMMI plant in Fremont. That's where the company plans to team with Toyota to build the vehicles. (AP)