Tuesday morning headlines

Sharp drop in stocks: Only so-so earnings reports could be playing a role. Dow is down more than 100 points in early trading.

B of A does well: Excluding a big one-time charge, earnings easily topped analyst expectations, mainly the result of a sharp drop in losses tied to defaulting loans. (AP)

Holiday season a bit merrier: Shoppers plan to spend an average of $688.87 in 2010, a slight increase from a year earlier, but below the amount spent in 2007, before the recession. (LAT)

Tribune Co. CEO headed out: The board is expected to ask for the resignation of Randy Michaels, whose frat house approach to management has made the parent company of the LAT a corporate laughingstock. (NYT)

Disney picks up Marvel films: The Mouse House has agreed to pay Paramount at least $115 million for distribution rights to "Iron Man 3" and the "Avengers." Paramount was hired to distribute Marvel films before the company was bought by Disney. (Bloomberg)

IHOP sues church: The Glendale-based restaurant chain wants the International House of Prayer to stop using its IHOP trademark. (LAT)

Another bump in gas prices: An average price of regular in the L.A. area is $3.154, up more than a nickel from last week, according to the government's survey.

Oxy profit rises: Oil and gas prices improved from year-ago levels and production increased. Earnings for the L.A.-based energy company beat expectations. (MarketWatch)

William Morris HQs for sale: Or more specifically, a loan on the three-building property in Bev Hills. The complex is in the process of being foreclosed on. (THR)

Jack Welch nixed Newsweek-Daily Beast deal: The former GE CEO, who was brought in to advise Daily Beast owner Barry Diller, recommended that Diller drop out. (NY Post)


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