Stocks edge higher: We'll see if the Dow can remain over 11,000. The index is up a few points in early trading.
Earnings season begins: Intel releases its third-quarter numbers on Tuesday, J.P. Morgan Chase on Wednesday, Google Thursday and GE on Friday.
Fed expected to act in November: The central bank's plan, according to economists surveyed by CNBC, is likely to involve purchasing $500-billion in assets as a way of boosting the recovery.
Big government?: You're hearing a lot about that on the campaign trail, but NYT columnist Paul Krugman notes that total government payrolls have fallen by more than 350,000 since January 2009. So what happened?
The stimulus wasn't actually all that big compared with the size of the economy. Furthermore, it wasn't mainly focused on increasing government spending. Of the roughly $600 billion cost of the Recovery Act in 2009 and 2010, more than 40 percent came from tax cuts, while another large chunk consisted of aid to state and local governments. Only the remainder involved direct federal spending.
Council members propose pension cuts: The plan calls for most civilian city workers to contribute 2 percent of their salaries to pay for the healthcare provided to retired employees. It also would raise the retirement age from 55 to at least 60. From the LAT:
The Coalition of L.A. City Unions, which represents roughly 20,000 city employees, said the council would need to enter into talks with the unions and warned that benefits cannot be changed simply by passing an ordinance. Still, coalition spokeswoman Barbara Maynard said her organization would be willing to negotiate over each item proposed by Garcetti.
Ex-Ticketmaster head back in game: Fred Rosen is being named CEO of a Canadian ticketing concern that will compete against Bev Hills-based Live Nation - now made up of Ticketmaster. From the WSJ:
Instead of listing and selling tickets for thousands of events on a single, centralized website, the new company plans to offer a so-called white-label service that will enable clients such as concert venues, festivals and sports teams to sell tickets to consumers directly from their own websites. "The middle-man model is dead," Mr. Rosen said in a telephone interview. "You have to evolve."
Acting president at American Apparel: He's Tom Casey, former CFO of Blockbuster. Last week the L.A.-based fashion company also said it worked out a deal with a major lender that eases its financial problems. (Bloomberg)
Station-swapping for PBS: OC channel KOCE will take the lead in network programming now that KCET is going independent. That means PBS mainstays will remain on the local air. From the LAT:
Reaction from fans to the KCET-PBS split has been swift and mostly negative. "I will never watch again, nor give another penny," said one commenter on The Times' Show Tracker blog. "KCET has just committed suicide. RIP," wrote another. One called KCET "an oasis" for its airings of "Live From the Met" and "Antiques Roadshow," while many questioned the wisdom of leaving the system.
Mixed bag on LAX incursions: There were no serious "near-misses" involving jetliners on the ground over the past year, according to an FAA report, but the airport did show a bump in the number of minor runway incursions. (Daily Breeze)