Stocks open higher: One of those glass-half-full days as traders take advantage of the recent dip in prices. Dow is up about 180 points.
Slow reassessments costing money: The landmark Budweiser brewery in Van Nuys only pays $18,000 in annual taxes for 3 million square feet of land. If the property were assessed at current market value the tax bill would top $1.3 million. From the LAT:
When asked why the property had not been reassessed, Los Angeles County Assessor John Noguez at first blamed the company for not notifying officials of the change in ownership. "You and I pay our fair share of taxes. They should pay their fair share too," he said. After doing more research, Noguez said the problem originated with the state Board of Equalization, which didn't notify the county of the ownership change until last year.
Stadium exemption idea to expand?: Not only might AEG be able to bypass the usual court process if its stadium plan gets challenged, but legislators may offer the exemption to other venues being built around the state. (Sacramento Bee)
Democrats reject Amazon's job offer: Legislators are skeptical about the Internet retailer's proposal to build two distribution centers and hire as many as 7,000 people in return for postponing a new law that forces online merchants to collect sales taxes on purchases by Californians. (LAT)
New CEO at Yahoo?: Kara Swisher has a long list of possible candidates to replace Carol Bartz, who got the boot on Tuesday.
Proposed ban on paper and plastic: L.A. City Councilman Paul Koretz wants to do away with both. Other California cities and counties have just outlawed plastic. Environmental groups are thrilled. (LAT).
Tough cities to find work: Riverside, L.A. and San Diego were among the 10 worst job markets in the U.S. last month, according to CareerCast.com. The ranking is based on the number of job openings per capita. (OC Register)
Saab files for court protection: The struggling Swedish automaker is still waiting for investments from Chinese companies and workers are growing anxious. From the NYT:
As part of the three-month reorganization plan, Saab's court-appointed administrator will ask the Swedish government to guarantee that all Saab Automobile employees be paid, though the company will have to repay the state. The company also said it hopes to gain the support of creditors for its plan, as it is aiming to fully reimburse them.
Port of L.A. gets USS Iowa: The decision paves the way for the battleship to become a naval museum. The Navy made the announcement after an eight-month review. (Daily Breeze)
Disney executive steps down: Andy Mooney had been chairman of the company's consumer product division, which handles merchandising and licensing. From the LAT:
He chafed under a company policy that prohibited him from serving on corporate boards and disdained the inside politics that largely left him out of Chief Executive Robert A. Iger's inner circle, said one person familiar with his situation who did not want to be identified because he was not authorized to speak publicly about the matter. People who have worked with Mooney, but asked to remain anonymous for fear of reprisals, said his hard-charging style was out of sync in a corporation that values collegiality.