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Stocks gain ground: It's all about Europe these days, and today the news is pretty good. Dow is up over 100 points.
Jobless claims hit 3-year low: Weekly filings fell 19,000 to 366,000 - a level low enough to propel significant job growth. (Bloomberg)
Foreclosure filings on upswing: The state saw a 15 percent increase in November compared with the previous month and an 11 percent increase from a year earlier. California cities accounted for nine of the 10 areas with the highest foreclosure rates. (LAT)
FedEx beats estimates: The overnight shipping company, often considered an economic bellwether, beat estimates with a 76 percent jump in quarterly earnings. From AP:
The performance of the company's FedEx Home Delivery and FedEx SmartPost services were especially strong, said CEO and Chairman Fred Smith. "With the healthy growth in online shopping this holiday season, demand is increasing for these residential delivery services," said Smith.
NFL's Goodell rules out L.A. team next year: He tells AP that the league won't be making a decision on a stadium in time for the 2012 season. From the Daily News:
Last week, AEG officials told a city panel that it hoped to secure City Council approvals for its $1.4 billion Farmers Field stadium by summer of 2012. The current agreement with the city, approved earlier this year, states construction on the project cannot begin until an NFL team has signed a long-term lease to play in Los Angeles. Additionally, the company is planning to release an environmental impact report for its downtown stadium by January 2012.
NFL network deal brings changes: NBC, CBS and Fox are getting a little extra sugar for their increased payouts to the league. Deal runs through 2022. From USA Today:
Next year, NBC takes the Thanksgiving prime-time game from NFL Network, which could add more Thursday night games. In 2014, NBC gets one divisional playoff game annually and gives up one wild-card game. That wild-card game could go to ESPN, which recently extended its NFL rights through 2021 as it pays about $1.8 billion annually.
Lakers not happy about Paul trade: No official comment, but team officials are said to be fuming over the deal that sends the All-Star to the Clippers. The Lakers were set to deal for Paul, but the NBA nixed the trade. (LAT)
Golden Globe nominations announced: "Hugo," "War Horse," "The Ides of March," "The Descendants," "The Help," and "Moneyball" are up for best drama. Among comedy or musical, it's "The Artist," "Midnight in Paris," "Bridesmaids," "My Week With Marilyn" and "50/50." (LAT)
Paramount chairman extends contract: Brad Grey has agreed to stay at the Viacom-owned studio through 2017. (LAT)
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.