He's the next mayor
I left LA for Chicago why?
Stocks back up: Slow-motion week continues as investors wait for Fed announcement later today and employment numbers later this week. Dow is up 25 points.
Moderate hiring in July: Businesses added 163,000 jobs last month, according to payroll provider ADP, which is slightly below the June numbers. The Labor Department offers a more complete picture on Friday. (AP)
Moving back home: L.A. ranks among the top metro areas that had a proportionally large number of young adults living with their parents during the recession. From the LAT:
Nearly 1 in 3 25- to 29-year-olds in Southern California lived at home at some point between 2007 and 2009, according to the report released Wednesday by Ohio State sociologist Zhenchao Qian. That compares to 19% for that age group nationwide.
Mixed bag on car sales: Chrysler saw a 13 percent increase in July, but GM was down 6.4 percent and Ford was down 3.5 percent. Slower sales to rental fleets and other business customers were cited. (NYT)
Breaking even on Olympics: NBC had been expected to lose money, but the network is selling more ads and ratings are up. (AP)
Indictment of ex-union leader: Tyrone Ricky Freeman is being charged with embezzling tens of thousands of dollars from the union that represents home healthcare workers. (LA Observed)
Campaign coffers keep filling up: Councilman Eric Garcetti and City Controller Wendy Greuel have each raised more than $2.2 million in the mayor's race. Councilwoman Jan Perry has raised roughly half that amount. (LAT)
Changes at Academy: Hawk Koch, the son of former president Howard Koch, takes over as head of the Academy of Motion Picture Arts and Sciences. Koch replaces Tom Sherak, whose term was up after three years. From the LAT:
Sherak has left the academy in strong financial shape -- he recently led the organization's renegotiations for both the Oscar telecast rights with ABC and its 20-year deal with the CIM Group to keep the ceremony at the Hollywood & Highland Center. The president's primary role is to make sure that the chief executive, Dawn Hudson, and her staff are following the lead of the board. Although the position used to be mainly symbolic, under the tenure of Sherak, and his predecessor, Sid Ganis, the job has become much more active.