Last look at Van Nuys location
WNET and the influence of David Koch
Stocks open lower: Market remains stuck in a fairly narrow trading range. Dow is down about 90 points.
California adds jobs in June: See post below.
DirecTV, Viacom settle dispute: After a nine-day blackout, Nickelodeon, MTV, Comedy Central, and the other Viacom channels are back on the El Segundo-based satellite service. A long-term deal was announced this morning, but no details. (NYT)
June was good month for tax coffers: The state received 5.6 percent more in tax revenues than expected, with income taxes coming in 8.4 percent above projections. From the LAT:
But that doesn't mean the last several months weren't financially difficult for California. When revenue is compared with expectations set when the 2011-12 budget was approved, taxes fell short by 4.8%, or $4.2 billion. A dismal April, the most important month for income-tax collections, was responsible for a large chunk of that gap. That helped increase this year's budget deficit from $9.2 billion to an estimated $15.7 billion.
San Bernardino readies for layoffs: With a bankruptcy filing all but certain, the next step is to prepare a short-term budget that will keep the city operating. From the Riverside Press-Enterprise:
The city has not stopped providing any services and "is committed to continuing to provide all essential services throughout the bankruptcy process," according to a statement from the city manager's office. But continuing to do so will be difficult, city officials say. San Bernardino has about $9 million in cash on hand -- enough for a month's payroll -- and has a $3.4 million payment on a pension obligation bond due today.
L.A. venture capital picks up: Second-quarter deals totaled $545 million, up 37 percent from a year earlier, according to Dow Jones VentureSource. Bay Area funding, which makes up the brunt of venture funding in the state, fell slightly. (LAT)