Friday morning headlines

Wacky economics 101: So you’ve read all those gloomy stories about a sluggish holiday shopping season, right? And retailers are having these blowout weekend marathon sales, right? And for the second week in December, total foot traffic at retail outlets fell 8.9 percent from a year earlier. And yet, consumer spending rose last month by the most in more than two years - and well ahead of forecasts. Early holiday discounts may have played a big role - along with the fact that employment numbers are looking good. (Bloomberg)

Cheaper gas: But still 60 to 70 cents higher than last year. The Auto Club's weekly survey shows that the average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $3.246, which is 4 cents lower than last week and 15 cents under last month.

Covering Zell: Er, is it just me but did the LAT editors go a tad overboard with its package of 61 stories ushering in the new chairman and CEO of Tribune (a slight exaggeration). You have to wonder whether most Times readers - that's who they're writing for these days, right? - really care all that much about Sam Zell or his plans for the beleaguered media company. (You also have to wonder whether Sam thought it was worth all the attention.) Among the nuggets that got lots of play was the "significant investment" that Vegas publishing entrepreneur Brian Greenspun has made in Tribune. Greenspun will be on Tribune's board. From the Times:

Greenspun, 61, has also been remarkably successful as a Web entrepreneur: His company collects a commission on every flight, hotel room and concert ticket booked through its Vegas.com, which he claims is the largest city website in the world. That's an achievement that may have piqued the interest of Zell, who has suggested that expanding Tribune's offerings in interactive media will be a key to its growth. Zell did not disclose the size of Greenspun's stake in the newly private Tribune beyond indicating that it was a "significant" minority share of his own $310-million equity investment. Greenspun said in a telephone interview that it was "significant enough to command a good portion of my time and attention, but not so large that it will in any way interfere with what Sam Zell wants to do."

Letterman decision: Today's the day that the folks from Dave's Worldwide Pants production company meet with WGA officials to discuss an interim agreement that would get Letterman's writers back on the job. Meanwhile, both sides are using polling numbers to buttress their positions: the WGA cites a survey showing strong public support for the cause, while the media companies tout a survey showing that the work stoppage has caused no impact on the viewing habits of 74 percent of Americans (both are probably true). (Variety)

Ruling against Univision: A federal court judge denied the media giant's request to dismiss several claims by Grupo Televisa, saying there was enough evidence for a jury to decide whether L.A.-based Univision acted in "bad faith" when dealing with its Mexican partner. Televisa has been trying to break a 1992 deal that gives Univision exclusive use of company's shows in the U.S. through 2017, claiming that it isn't being paid adequately. The shows generate about 40 percent of Univision's revenue. (LAT)

Live Nation goes solo: Having broken off its relationship with Ticketmaster, the L.A.-based concert promoter will launch its own ticketing service on Jan. 1, 2009. Actually, they're cutting a deal with a German ticketing company to handle the work. There had been speculation that Live Nation would purchase a ticket company. From Variety:

Ticketing is seen as a crucial step in bringing an entire concert operation under a single roof. By operating its own box office, Live Nation will receive the fees charged to ticket buyers over and above the listed ticket price. As with the premium ticket service, Live Nation is now controlling revenue streams that had gone to other agencies when the promoter was operating as Clear Channel.

Port plan approved: As expected, the Board of Harbor Commissioners has signed off on a $35 fee on all loaded 20-foot cargo containers entering the Port of Los Angeles, beginning June 1, 2008. The fee is aimed at generating enough money to pay for newer, cleaner short-haul diesel trucks by 2012. Port officials said that they cannot expand operations without finding a way to reduce diesel emissions. (Daily Breeze)

Milberg Weiss trial stays in L.A.: An L.A. federal judge denied a motion by partner Melvyn I. Weiss to have the trial on conspiracy charges transferred to NY. Weiss had argued that the case should be moved because it would be a hardship for him to be away from home, family and friends. He's charged with orchestrating a scheme by which Milberg Weiss paid kickbacks to named plaintiffs in securities class actions cases. (NY Law Journal)