Wednesday morning headlines

Stocks edge lower: Killing time until earnings season - and Friday's jobs report. Dow is up about 10 points.

Layoffs rise in June: Second month in a row that planned firings have increased, according to Challenger, Gray & Christmas. The government and non-profit sector continued to see the heaviest downsizing. (Reuters)

Film shoots level off: On-location filming was nearly flat for the April-June quarter, according to Film LA, with commercial activity down 7.5 percent from a year earlier. Features were up 4 percent and television was down 0.7 percent. (press release)

Parts maker sold for $772 million: Pasadena-based Ameron International, whose CEO had come under pressure from shareholders, is being acquired by National Oilwell Varco. Ameron makes fiberglass-composite pipes. (LAT)

Chapman bids for Chrystal Cathedral: The offer is part of a proposal in which the church, now in bankruptcy protection, would be allowed to lease back its buildings. Chapman plans to use portions of the property as a satellite campus, (OC Register)

Hollywood office building to be sold: The 22-story Sunset Media Tower is expected to be bought by Kilroy Realty for about $76.5 million, THR is reporting.

Dodgers seek MLB documents: Lawyers for owner Frank McCourt want to show a bankruptcy judge that the team ran out of money because Commissioner Bud Selig would not bend on the Fox television contract. (LAT)

PTA moms accused in Ponzi scheme: Victims thought they would be getting high rates of a return from a company that supposedly had exclusive rights to distribute its products at Disneyland. From the LAT:

One person invested $208,000 in cash, [said Los Angeles County Sheriff's Capt. Mike Parker]. He described the victims as "good, hard-working people" who didn't want to miss out "on the opportunity to make a better life for themselves and their families." The suspects racked up investors and cash between 2008 and 2010. But eventually people began to ask questions and began demanding payment. The suspects called meetings and attempted to "pacify investors by explaining the delays in payment were a result of an internal audit of the business," Parker said.

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

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