Stocks edge higher: A very slow stretch as investors wait for Fed Chairman Ben Bernanke's speech on Friday - and August employment numbers late next week. Dow is up 10 points.
L.A. home prices nudge higher: The Case-Shiller Index shows a 1.7 percent increase in June compared with the previous month, but a 0.6 percent decline from June 2011. In more recent surveys, L.A. prices have picked up substantially. (press release)
Gas update: Socal prices remain fairly steady, despite refinery closures in the Gulf. An average gallon of regular is $4.141, according to the Auto Club, about two cents higher than last week.
Airlines cancel flights: Forget about flying to New Orleans today - and travel to other parts of the South could be iffy because of Isaac. (LAT)
Dip in consumer confidence: The Conference Board index fell to its lowest level since November 2011. Higher gas prices this month could be one explanation. (Reuters)
Vehicle fleet reduced: More than 7,000 cars, trucks, vans, buses, heavy equipment, boats, trailers, and planes have been cut from the state's inventory over the past 19 months. (Sacramento Bee)
Wellpoint CEO under pressure: Institutional shareholders are pushing for the removal of Angela Braly. The health insurer, which runs Anthem Blue Cross in California, has struggled with a slumping stock and weak earnings. From the LAT:
A New York hedge fund, Royal Capital Management, sent a letter to WellPoint's board last week saying that Braly has "failed miserably" as CEO and that "it is incumbent upon the board of directors to fulfill its fiduciary responsibility to shareholders by changing leadership." Royal Capital, which held about 838,000 shares of WellPoint as of June 30, declined to comment further Monday. Other influential WellPoint shareholders, such as Leon Cooperman's Omega Advisors hedge fund in New York, have expressed similar concerns about the company's lackluster performance, particularly compared with its chief competitors', and they have urged the board to replace Braly.
Nasty Gal raises $40 million: The L.A.-based online retailer - and fastest growing Socal company, according to Inc. magazine - is getting the funding from Index Ventures, which had previously invested $9 million. (Forbes)