Tuesday morning headlines

Stocks back on the upside: Dow is up over 130 points, but let's see what happens for the rest of the session. When sentiment is gloomy, strong openings have a way of dissolving.

May retail sales fall: First time it's happened in almost a year, largely the result of lower car sales last month. Analysts say the numbers weren't too bad. (Reuters)

More corporate hiring?: Latest survey of CEOs by the Business Roundtable shows that 51 percent expect to spend and hire more over the next six months, despite slower economic growth. (AP)

California job prospects are improving: The quarterly Manpower Survey found that 18 percent of L.A.-area businesses plan to add staff from July through September, up from 10 percent in the second quarter and 11 percent a year ago. (Daily News)

California Democrats back to budget gimmicks?: The latest budget plan could be passed by tomorrow's deadline without any Republican votes, but it would not resolve the state's $10-billion shortfall. From the LAT:

Brown has campaigned against smoke-and-mirrors budgeting for months, vowing to veto any gimmick-laden spending plan. At a Monday news conference, however, the governor spoke less definitively, saying he would take a "hard look" at such a proposal. Asked what had changed, he said dryly, "I just don't give you all my strategies before I implement them."

McCourt faces another payroll deadline: The Dodgers owner needs about $30 million by June 30 or risk having Baseball Commissioner Bud Selig seize the team and put it up for sale. From the LAT:

Frank McCourt and his ex-wife, Jamie, held settlement talks into the evening Tuesday. It is unclear how a settlement might be structured, but a deal could be contingent on Selig's approval of a proposed television contract with Fox, one that McCourt has said could be worth $3 billion and would put the Dodgers on sound financial footing for years to come.

Air Canada workers on strike: The airline will keep running with managers, but passengers can expect delays. Proposed pension changes are a major source of contention. (NYT)

Videogame sales hit four-year low: "L.A. Noire" was the top-seller in May, but overall sales of hardware, software and accessories were down 14 percent from a year earlier, according to the NPD Group. (THR)

Was the Spelling mansion sold on the cheap?: Still no word on the final price, but TMZ says that buyer Petra Ecclestone, whose father is billionaire Bernie Ecclestone, opened her bid at $75 million, half the $150 million asking price. The deal is apparently in escrow (see earlier 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?
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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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