Mixed market: Back to worrying about Europe, though early losses are gone. Dow is up 10 points.
Obama on Europe: Quick and decisive action is needed, the president told reporters this morning, though no specifics on how that would be done. "What we can do is prod, advise, suggest but ultimately they are going to have to make these decisions," Obama said. Also lots of talk about his jobs program that Congress has only nibbled at. (AP)
L.A. gas prices drop by a dime: An average gallon of regular is $4.183, according to the Auto Club, which is down 10.2 cents from last week. It's best to shop around because price variances are substantial.
State jobless claims at 3-year low: April's numbers totaled 501,182, compared with 767,871 at the height of the recession. Further drops are expected as the federal government phases out extended assistance programs. (OC Register)
Public has little faith: Nearly two-thirds of California registered voters don't think state lawmakers can satisfactorily resolve the $15.7 billion budget deficit, according to a Fireld Poll. Meanwhile, Gov. Brown's job performance has dropped to 43 percent, down two points from February. (Sacramento Bee)
New housing chief gets bump in pay: Regulators want to cap federal funding for housing authority executive salaries at $155,000 a year, but L.A. officials plan to stick with a $260,000 base salary for its new executive director, Douglas Guthrie. From the LAT:
Officials from the Department of Housing and Urban Development said they do not plan to stop agencies from boosting pay with local revenue sources, such as real estate income. "HUD's overriding priority is that the money we provide be used to house low-income families," spokeswoman Donna White said. HUD's announcement also reignited questions about the pay given to the L.A. agency's ousted former executive director, Rudolf Montiel. The federal government reported his compensation for 2010 was far higher than the $450,000 a year city officials previously acknowledged.
Blackout warnings: The San Onofre nuclear plant will be out of commission through at least August, and Southern California Edison officials say that outages are possible this summer. From AP:
The trouble began to unfold in January, when the Unit 3 reactor was shut down as a precaution after a tube break. Traces of radiation escaped at the time, but officials said there was no danger to workers or neighbors. Unit 2 had been taken offline earlier that month for maintenance, but investigators later found unexpected wear on hundreds of tubes in both units. Gradual wear is common in such tubing, but the rate of erosion in some tubes at San Onofre alarmed officials since the generators are relatively new. The company has said 1,300 tubes will be taken out of service, although the number is well within the margin to allow the generators to keep operating.
Young adults stay on parents' health plans: It's allowable for children under 26 under the new health care law, and as many as 6.6 million young people are enrolled, according to a study. From the LAT:
Not all of the estimated 6.6 million young adults who joined or stayed on their parents' plans would have otherwise been uninsured, according to officials at the Commonwealth Fund, which is a leading source of healthcare research. At least some probably moved to their parents' plans from other health insurance plans because the family plans were less costly or more comprehensive. But, Commonwealth Fund President Karen Davis said, the survey was a hopeful indicator at a time when millions of Americans are struggling to get needed healthcare.
Marriott to open luxury hotel on Sunset Strip: It will be part of the Edition chain that has been struggling to compete with the W and Standards brands. The new property replaces the Sunset Doheny Hotel. (Business Journal; no link)
UCLA Anderson school to go solo: The Academic Senate approved a plan to shift the daytime MBA program to a self-funded model that will rely on tuition and donations instead of state support. The plan still has to go through a couple of hoops before taking effect. (KPCC)
Bijan estate for sale: Asking price is $12 million for the 12,000-square-foot Tuscan-style house that was owned by Bijan Pakzad, the Iranian fashion designer who died last year. He purchased the home in 2002 for just under $7 million. (WSJ)