Thursday morning headlines

Market bouncing around: Another day where stocks are pulling back after a strong start. Dow is up about 50 points.

No decision on tax cuts: The Democrats are split on whether to let rates rise for wealthy Americans. That means any action before the November election is unlikely. (WSJ)

Boxer under attack: The U.S. Chamber of Commerce has begun running ads in San Diego, Bakersfield, Fresno and Sacramento that attack the incumbent senator's voting record on jobs and the environment. From the LAT:

With the Senate race in dead heat, the chamber's ad campaign could provide a substantial boost to Fiorina, who has trailed Boxer in fundraising. After the six-week reporting period that ended June 30, Boxer had nearly 12 times more cash on hand than Fiorina, who had approximately $1 million. Boxer, who did not have any significant primary opposition, had spent $5.8 million by the end of June to Fiorina's $9.7 million. Neither candidate has aired television ads during the general election phase of the campaign.

Toys "R" Us adds mall space: The retailer is opening 600 pop-up stores this fall. They're available because so many retailers went out of business and mall operators haven't been able to fill the space. (WSJ)

Chef buys Hollywood space: The David Myers Group paid $7.2 million for two retail spaces on the ground floor of the historic Equitable building at Hollywood and Vine, where Myers intends to open a restaurant next year. (LAT)

South Bay bank to be sold: Socal investor Stephen Gordon leads a group that's pumping $460 million into Bay Cities National Bank, a five-branch Redondo Beach institution. The deal would give Gordon's group full ownership of the bank, to be renamed Opus Bank. (LAT)

Lionsgate turns down Icahn offer: The $7.50-a-share tender doesn't reflect the full value of the entertainment company, Lionsgate says in a filing. (The Wrap)

MGM deal is nearing: The founders of Spyglass Entertainment have signed a nonbinding letter of intent to take over management of the movie studio. A prepackaged bankruptcy will be required before the Spyglass folks can assume control. (LAT)

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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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