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Stocks head lower: No carryover from yesterday's gains. Dow is down about 20 points.
GM shares are down: Stock is now trading at $33.83; offering price was $33.
Fewer mortgages delinquencies: It's the lowest level since the beginning of 2009 - 13.5 percent of households were behind on their mortgage payments in the third quarter, from 14.4 percent during the previous three months. (NYT)
California gets stung in bond market: The state had to boost interest rates in order to attract investors to its $10 billion debt offering. The higher yields will cost taxpayers $14 million more in interest expense than had been hoped. (LAT)
California stays deep blue: State voters are very reluctant to side with a Republican candidate, according to an LAT/USC poll.
California voters surveyed in the poll repudiated the party's stance on illegal immigration by endorsing a host of positions intended to make it easier for the undocumented to gain legal status. Their support for same-sex marriage outnumbered that opposing any legal recognition by more than 3 to 1. Californians also endorsed an assertive role for government in protecting minority citizens, regulating corporations and helping the poor and needy, and rejected arguments that an activist role for government had harmed the fiber of American society.
Redistricting panel selected: Regular folks instead of political insiders will now be responsible for drawing up political districts. From the Sacramento Bee:
A majority of the commissioners selected Thursday - five of eight - are women. Four are Asian American, two are white, one is African American and another is Hispanic or Latino. Only one commissioner has an income above $250,000 per year, and only one has an income below $75,000.
Low marks for state PPOs: Most major health insurers don't do well paying claims or providing customer service, according to a survey by the Department of Insurance. From the LAT:
In the quality report card, Anthem Blue Cross, Blue Shield of California, Health Net Inc., UnitedHealthcare and Cigna Corp. received the lowest possible ratings -- poor -- for customer service. Aetna Inc. earned a slightly better rating of fair. Most of those insurers also garnered marks of fair for the ease and speed with which members see doctors and get medical care. UnitedHealthcare earned a grade of good. No insurer received the top overall rating: excellent.
Potter madness: "Harry Potter and the Deathly Hallows, Part 1" is the third-highest advance ticket-seller in Fandango's ten-year history. As of last night, "The Twilight Saga: New Moon" was still number one.
Live Nation sues ex-chairman: The Bev Hills-based concert company says that Michael Cohl failed to pay $5.35 million as per the terms of an exit contract. (THR)
Google going after Groupon: Takeover talks are underway, says All Things Digital, with the price being considered well above the $2 billion to $3 billion that Yahoo had offered the online deals company. Sounds like the discussions are early.
Gas price update: An average gallon of regular in the L.A. area is $3.153 per gallon, up four cents from last week, according to the Auto Club.
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.