Friday morning headlines

NBC sprucing up?: It's a decent bet that sooner or later GE will unload its entertainment property, and what better way to unofficially shop around the $40 billion asset than to show improving results? GE's 14 percent increase in third-quarter profit was helped along by a 9 percent earnings increase at NBC Universal (that was the high end of management projections). Once more, cable played a big role in the numbers, as did a few popular summer films. (THR)

Land for sale: It's still early, but the LAT is playing up Burbank developer M. David Paul & Associates as snapping up those 34 acres of prime real estate that NBC is selling off (the media giant is moving to Universal City). For a certain kind of buyer or tenant the property is choice: soundstages, TV studios, executive offices and acres of room for expansion - zoned and good to go. Santa Monica-based M. David Paul already owns 2.5 million square feet of office space in Burbank.

NBC said the sale of the Burbank property would help pay for its share of completing the elaborate new facility. The company would be anchor tenant of Thomas' nearly 1.5-million-square-foot commercial project proposed atop the Red Line subway's Universal City station. "By selling and securing a long-term lease, we are able to keep our businesses on the lot for several years while still allowing a new owner to bring high-quality jobs and investment to Burbank's Media District. It is good for NBC Universal and good for Burbank's future," said Tom Smith, head of West Coast real estate for NBC Universal.

Rich-poor divide: We all know it's there - and has been for a while - but new numbers from the IRS provide specificity not found in other studies. Here 'tis: The wealthiest 1 percent of Americans earned 21.2 percent of all income in 2005, up sharply from 19 percent in 2004. That also surpasses the previous high of 20.8 percent in 2000. Meanwhile, the bottom 50 percent earned 12.8 percent of all income. There are lots of possible explanations - everything from a tech-based world that favors skilled workers to just plain greed. From the WSJ:

The data highlight the political challenge facing Mr. Bush and the Republican contenders for president. They have sought to play up the strength of the economy since 2003 and low unemployment, and the role of Mr. Bush's tax cuts in both. But many Americans think the economy is in or near a recession. The IRS data show that the median tax filer's income -- half earn less than the median, half earn more -- fell 2% between 2000 and 2005 when adjusted for inflation, to $30,881. At the same time, the income level for the tax filer just inside the top 1% grew 3%, to $364,657. Democrats, on the other hand, have sought to exploit angst about stagnant middle-class wages and eroding benefits in showdowns with Mr. Bush over issues such as health insurance and trade.

So much for solidarity: As we noted yesterday, the Writers Guild is putting in place a bunch of tough strike rules that include prohibiting union members from writing animated features if there's a strike. Well, Thomas Short, the head of the Alliance of Theatrical Stage Employees, isn't exactly thrilled by those rules and says he'll go to court if need be (animation writing, you see, is under IATSE juridiction, not WGA). Short wrote a letter to WGA West president Patric Verrone, in which he describes the writers union as "the house of hate." The writers and the Alliance of Motion Picture & Television Producers have recessed their talks - such as they are - until next week. (Variety)

Squabble gets aired: Most CEOs who lose their job slink quietly from the scene, handsome pay package in hand. But Ezra Dabah, for better or worse, has decided to speak up - and his claims aren't pretty. Dabah was fired as CEO of Children's Place, which operates the Disney Store chain, over supposed violations in the company's code of conduct concerning stockholdings and trading. But Dabah, who is still the largest shareholder, says his ouster was "solely attributable to a power play by certain members of the board" and upbraiding the company for making remarks "that have disparaged my good name and reputation." Those claims and others are contained in a two-page letter addressed to the company's acting chairwoman that just happened to land in the hands of a NYT reporter.

Mr. Dabah devoted the first quarter of his letter to a detailed description of his accomplishments as chief executive. Under his leadership, he wrote, revenue and earnings rose at an annual rate of 30 percent and the company’s share of the children’s clothing market grew to 4.2 percent. “The success of the company under my leadership and the value my team created for shareholders cannot be questioned,” he wrote. But his relationship with the board appears to have become severely strained. Mr. Dabah did not specify why. But there was an investigation into potential stock option backdating, which found that the company had inadequate internal controls. The company missed remodeling deadlines at its Disney Stores, which it operates under license, and it lost $27 million in the second quarter this year.

Still higher gas prices: It's the sixth straight week of increases, according to the Auto Club's latest survey, though the prices are rising gradually. In L.A., the average price of self-serve regular gasoline is $2.994, which is 1.9 cents higher than last week, 17 cents above last month, and 38 cents more than last year.

Mattel trumps recalls: Even after this summer's mishigas, the El Segundo-based toy giant is expected to report an increase in third-quarter profit and sales from a year earlier (Mattel reports on Monday). Banc of America analyst Michael Savner says the company will show growth in its Fischer-Price segment and continued strength overseas (that's a huge market), though U.S. Barbie sales will likely decline. (DJ)

Bill banning immigration checks: Gov. Arnold Schwarzenegger signed legislation into law that prohibits local governments from requiring landlords to report on the immigration status of tenants. The bill came in response to laws passed in several California cities - Escondido is getting lots of attention - threatening to revoke the business licenses of landlords who refuse report on illegal immigrants. "Landlords are not deputies of the federal immigration program, it's not our job," said Nancy Ahlswede, CEO of the nonprofit Apartment Association of California Southern Cities. (Press-Telegram)

Silly surveys: How's this for an informative lead to a story: "Los Angeles customer service bites, or does it? Depends on who you talk to." Two surveys on customer service in various cities come to various conclusions about how polite or rude people are in Los Angeles and other places. There's nothing to be gleaned from the numbers - no trendlines, no intriguing anecdotal findings, and no quantitative measurements beyond the impressions of a few secret shoppers. Of course, it'll be great fodder for the TV news crowd. It's in the Daily News, if you dare.