Follow LA Observed on Twitter here
Schwarzenegger's plea, the Lu Parker/Villaraigosa talk continues, those Chinese are still at LAX, books by Barbara Streisand and Choire Sicha, a journalist gets a job and more. Mark Lacter's LA Biz Observed headlines are here.
- That's it, we're out of money and credit, day of reckoning is here, says Schwarzenegger. LAT, Bee, WSJ, Rough & Tumble, Which Way, LA?, Patt Morrison
- If former Hewlett-Packard CEO Carly Fiorina runs against Sen. Barbara Boxer next year, she may have to explain her .spotty voting record. Carla Marinucci
- KTLA newscaster Lu Parker told news director Jason Ball that she was dating Mayor Villaraigosa only on Monday as the news broke, not during the months previous. Ball, who sees no conflict, says Channel 5 has no intention of reporting on the relationship. James Rainey
- Every politician wants reporters on his side. Mayor Antonio Villaraigosa just goes a bit further, says Kevin Modesti. DN
- Channels 4, 5 and 11 will begin sharing video on June 15. MediaWeek, SoCal Media Scoop
- L.A.'s moratorium on medicinal marijuana dispensaries led to a boom in new ones and here's how. LAT
- One in four California jobless have been out of work for six months or more. OC Register
- Villaraigosa signed a $7 billion city budget characterized as "a work in progress." DN
- About 160 China Eastern Airlines passengers remained stranded at LAX after their Sunday flight to Shanghai was delayed because of mechanical problems. As someone said on Twitter, LAX isn't any fun for even two hours. LAT, Daily Breeze
- The Ritz-Carlton logo was placed atop the new hotel tower going up at L.A. Live. Blogdowntown
- Barbra Streisand has sold "A Passion for Design," an illustrated book of photos and text on her Malibu compound and other residences, to Viking Penguin for publication in fall 2010. Also, former Gawker editor Choire Sicha sold his "salacious chronicle of the lives and loves of four New Yorkers set against the economic crisis and a changing New York City" to Harper Studio. Publishers Lunch
- The San Gabriel Valley Tribune filled its reporter opening with James Wagner, a former LAT MetPro who interned at the Wall Street Journal and speaks Spanish. He covers Diamond Bar, Walnut, Rowland Heights, Hacienda Heights and Industry as well as Majestic Realty's NFL plans.
- Author Lisa See will discuss her new novel "Shanghai Girls" on Larry Mantle at 11:40 a.m. KPCC/89.3