Monday morning headlines

Stocks open higher: Friday's sell-off is making way for a decent start to the week, with the Dow up about 35 points.

Oil prices edge higher: There's continued concern about the crisis in Egypt, but OPEC says it has no plans to boost output. (Reuters)

Business halts operations in Egypt: Heineken, Unilever, Nissan, and GM were among the companies suspending production as arrangements are made to get foreign workers out of the country. (WSJ).

Tourism taking a huge hit: Lots of cancellations and the timing is really bad: Winter is high season for visitors. From AP:

It is not clear how long tourists and businesses might avoid the Middle East, and therefore, how much of an impact the situation in Egypt will have on other countries in the area. Jordanian economist Hani Horani said: "Foreign tourists look at the Middle East as one entity and they will avoid traveling to an area they consider unstable."

State of the State tonight: Gov. Jerry Brown makes his case for big spending cuts and a ballot measure extending temporary tax increases on vehicles, income and sales. From the Sacramento Bee:

He said he will address the budget but will be optimistic, too, despite the dismal economy and statewide unemployment at 12.5 percent last month. "The budget is a key point," Brown said. "But we have to have some optimism, too, about how great everything is and how rich California is and how we're going to create all these jobs, and have enough water, and fix our schools, and deal with, you know, curriculum."

Borders delays payments again: The struggling bookstore chain is trying to maintain some liquidity as it inches closer to a bankruptcy filing. (NYT)

No housing crisis in San Marino: It's the only wealthy community in Socal to see home prices improve year over year. From the LAT:

Credit goes in part to San Marino's acclaimed schools, its stock of mansions with curb appeal and its small-town ambience. But it also has something else going for it, real estate experts say: an influx of money from Asian home buyers and investors. "If you go to mainland China and someone asks, 'Where do you live?,' San Marino represents that you are wealthy," said YanYan Zhang, a real estate agent whose clients include overseas buyers looking for homes here.

Disney CEO gets big raise: Robert Iger received a 2010 pay package valued at $28 million, up 30 percent from a year earlier. Much of the bump is from a performance-based bonus. (AP)

More by Mark Lacter:
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Another rugged quarter for Tribune Co. papers
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Those awful infographics that promise to explain and only distort
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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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