Wednesday morning headlines

Stocks edge higher: Dow is up about 60 points in early trading despite declines today on the overseas markets.

AT&T updates pricing: No more single monthly price for unlimited Internet access. Under the new plan, subscribers can pay as little as $15 a month for 200 megabytes of data (your total bill will be higher). The more you use, the more you pay. (USA Today)

Leak may last until Christmas?: That's the worst-case scenario, according to the head of research at energy investor Tudor Pickering Holt, although as he points out, "this process is teaching us to be skeptical of deadlines." One potential concern: Disruptions from hurricanes. (Bloomberg)

Jeff Zucker's exit papers?: He'll be out as the head of NBC Universal a couple of months after the sale to cable giant Comcast is complete, reports the NY Post. Exit package is estimated at $30 million to $40 million, though some sources deny that such a deal is in place.

NBC-Comcast hearing in L.A.: House Judiciary Committee will meet Monday on the proposed $30-billion deal at the California Science Center. The L.A. locale was pushed by Rep. Maxine Waters, who has been critical of the deal. (LAT)

Amgen drug approved: It's for the osteoporosis drug Prolia that helps prevent fractures in post-menopausal women. The drug will be available within the next two weeks. From Reuters:

Prolia, which is given by injection once every six months, works to decrease the destruction of bone and increase bone mass and strength by inhibiting proteins that activate bone-destroying cells. "Denosumab is the most potent agent ever introduced into clinical practice that blocks bone degradation," Roger Perlmutter, Amgen's research chief, said in a telephone interview.

L.A. County boycotts Arizona: As part of the 3-2 vote by supervisors, county-funded travel to the state is suspended, and contracts with Arizona-based companies might be terminated. (LAT)

Disney offers tickets on Facebook: Theaters aren't yet selling tickets for "Toy Story 3," which opens June 18, but you can get them in groups through Disney Tickets Together. From the NYT:

Users click on the "go to application" button and give the service access to personal information in their profiles. A page then loads ticket times at nearby theaters based on their profile location settings. A Disney Tickets Together search in the Los Angeles ZIP code of 90004 on Tuesday served up 88 screenings at 12 theaters. The application provides an option for inviting friends who are not members of the site. The slogan: " 'Toy Story 3' arrives in theaters on June 18! Who are you bringing with you?"

Icahn extends Lions Gate offer: It's an all-out proxy fight as the activist investor extends his $7-a-share bid for the third time. From the LAT:

Whereas Icahn's bid was previously contingent upon him being able to raise his stake from just under 19% to more than 50%, he now could end up owning 20% to 50% of the company's stock, which would give him significant clout without full ownership. If his stake increases to more than 20%, Lions Gate would default on the terms of a revolving credit facility of $340 million. The company would then need either to get a waiver or to raise new money to pay back that debt.

Four Seasons cutting costs: No more huge displays of fresh flowers at many of its hotels, and some of the restaurants will close when business is slow. One suggestion that wasn't followed up: Elimination of room service from midnight to 4 a.m. From the WSJ:

Of the 82 hotels that fly Four Seasons flags, at least a dozen are in financial distress. Last year, occupancy levels at the luxury chain's U.S. hotels averaged 57%, and revenue per available room fell 26%. Even with room rates that average $400 a night, many Four Seasons hotels can't generate enough cash to pay both interest and operating costs.

Hospital's revolving door: New study of heart-failure patients finds that patients who are discharged after short stays often have to return for additional care. So much for cost-containment. (WSJ)


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
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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
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