Wednesday morning headlines

Stocks fall sharply: Investors are choosing to go with the not-so-great news this morning in what could be an ugly session. Dow is down 175 points.

Private sector adds 209,000 jobs: The ADP numbers for March were slightly above expectations. The government's more comprehensive report is due out Friday. (Reuters)

Gas update: L.A. area prices fell a half-penny from Tuesday, with an average gallon of regular now at $4.324, according to the Auto Club. That's about a nickel lower than a month ago, but 30+ cents higher than a year ago.

Dallas storms still delaying L.A. flights: Service between the two cities has pretty much resumed, but it could take much of today to catch up from Tuesday's cancellations. Check your airline.

Still more tax breaks for hotels?: City Council is considering incentives to encourage modernization projects and better pay for workers. From the LAT:

In a motion introduced on Tuesday, the council agreed to ask several city departments for reports on how "public benefits" and other incentives could be used to help strengthen the local tourism industry, which the motion said is "lagging behind where it can be." Hotels, the measure said, are aging and falling behind in energy efficiency, and hotel workers are largely "underpaid and overworked." Councilman Bill Rosendahl, who helped write the proposal, said he wants to know what the city can do to create better wages for workers.

USC takeover of Coliseum in sight: Under a lease that could extend for 42 years, the school would be responsible for staffing, day-to-day operations, and event scheduling. From the LAT:

The confidential lease draft, which The Times obtained, states that the school would receive lucrative naming and advertising rights to the Coliseum. USC could restrict use of the stadium for "public interest" events, such as a community Fourth of July celebration, to eight per year. The [Coliseum] commission has also proposed including its parking lot, its roadside sign on the 110 Freeway and even the companion Sports Arena in the package.

Cutting back on doctor visits: The 4.7 percent decline in 2011 pairs with a 7.4 percent increase in ER visits - both the result of lost health coverage, according to a study. From the NYT:

Michael Kleinrock, director of research development at the institute, which consults for the drug industry, said his research showed that some people with health insurance at the start of the recession actually increased their visits to the doctor out of fear they were about to lose it. But as the economy has failed to strongly recover, "we're now seeing more people reset their expectations about how often they will use medicine."

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 Aerospace stories:
Why they keep flying into Santa Monica airport
Morley Builders says CEO and son were in SMO crash
Deaths in jet crash at Santa Monica airport
Boeing to end C-17 production in Long Beach
How much longer can C-17 production last in Long Beach?

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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
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