Wednesday morning headlines

Stocks keep climbing: The news from Slovakia is good - it looks like the government will approve a plan to expand the euro zone rescue fund. Dow is up about 100 points.

Senate Republicans kill jobs bill: The legislation, which President Obama has been strongly pushing, fell short of the 60 votes needed to overcome procedural hurdles. From the NYT:

Several Democratic senators said they might join a handful of Republicans in searching for job-creation proposals that could gain bipartisan support -- a formidable challenge in a chamber where comity seems to worsen by the week. House Republican leaders have said they do not intend to take up the president's bill as a whole. But they welcomed the signal from the White House that the administration would be open to a piecemeal effort.

Zynga releases new platform: The coal-hot games developer wants to lessen its reliance on Facebook users. The company, which is in the midst of a public offering, also released a bunch of new games. From Reuters:

Like Hollywood studios, the publisher also needs to keep releasing new hits to sustain its growth. After a months-long dry spell for new games, Zynga said in September that its profit dived to $1.4 million from $14 million a year earlier. Its sequential quarterly profit also fell more than 90 percent, from $16.8 million in the three months ended March.

Brown and unions: Kind of a mixed bag - the governor finished his first legislative session by signing bills that help supermarket workers and firefighters. But he turned down some proposals. From the LAT:

The governor has a complicated relationship with labor. More than three decades ago, during his first stint in the office, he marched with Cesar Chavez and farmworkers and granted collective-bargaining rights to state workers, giving rise to a politically potent public sector. But he also vetoed pay raises for public employees and sought to curb generous public pension benefits.

L.A. faces more layoffs: The city's pension board might reduce its assumed rate of return from 8 percent to 7.75 percent. If that happens, L.A.'s budget deficit will jump by $300 million and officials will be stuck making up the difference. That means cuts. (LAT)

NFL owners talking tough: If L.A. really wants a pro football team, it's going to cost more than what AEG seems willing to fork over. From the LAT:

"The bottom line is, if an owner's going to go in there, and if he's going to sell 10% or 20%, he's not going to sell it for $5 million a point," [said Indianapolis Colts owner Jim [Irsay], referring to the deal AEG is believed to be seeking. That would represent half price for a franchise with a valuation of $1 billion. "I think it could be a tremendous deal. I've always said that if it's done the right way it's going to be a great deal. But I think things have fallen apart there in the past because, quite frankly ... no one's going to steal a minority interest for an outrageous price."

Accusations flying in Dodger bankruptcy case: Major League Baseball, Fox Sports, and of course the Dodgers are having at each other in filings that will set their positions for a crucial hearing later this month. (LAT)

Gas prices slip: An average gallon of regular in the L.A. area fell by a penny, to $3.846, according to the government survey.

Ethics Commission imposes maximum penalty: Koreatown developer Alexander Hugh was fined $183,750 for his role in an alleged money laundering scheme that involved Mayor Villaraigosa's reelection campaign. (LAT)

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 California stories:
Volcanic cinder in Owens Valley
Holiday shopping: On your marks, get set... spend!
14 California bookstores in nine days
Uproar over health care sites could be settling down
BART strike to end Tuesday in the Bay Area

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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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