Thursday morning headlines

Bush: No recession: Guess we can all breathe easier now. He said the $152 billion stimulus package enacted earlier this month should help move things along. "We want to sustain the American consumer, encourage the American consumer," Bush said at a news conference this morning. Guess he must have missed a new LAT/Bloomberg poll showing that most Americans plan to use their rebate checks to pay down existing debt or add to their savings. By the way, the Dow is down 130 points at last check.

Court rejects pollution laws: The state of California must seek federal approval before imposing pollution limits on thousands of cargo ships - one of the major sources of pollution in the L.A. region. California's new regulation is preempted by federal law, according to the U.S. 9th Circuit Court of Appeals. The state had argued that it didn't need a waiver in this case. From the LAT:

For four decades, the state has adopted its own regulations for cars, trucks, factories, consumer products and other sources of air pollution, often prompting the federal government to set similar standards. Since the 1970s, the EPA has granted California hundreds of waivers allowing it to set its own emission standards. But in December, the agency denied the state's request to impose standards to reduce greenhouse gases from automobiles. The EPA administrator has argued that, unlike smog and diesel fumes, climate change is a global problem, not a state one. The California Air Resources Board immediately stopped enforcing the ship rule Wednesday as its attorneys debated their options. They will either appeal to the Supreme Court or seek a waiver from the EPA.

L.A. Council approves port plan: This will eventually ban older, polluting big rigs entering the Port of Los Angeles in favor of cleaner-burning trucks that would be funded through a cargo fee. Still unsettled is a plan that would require drivers to be employees of trucking companies. Last week, the Long Beach harbor commission created a ruckus by approving a plan that allows independent truck drivers to continue hauling goods to and from the port, as long as their vehicles meet the new environmental standards. (Daily Breeze)

Humane Society sues USDA: The Agriculture Department is accused of creating a loophole that supposedly gives the meat industry a financial incentive to send unhealthy cattle to slaughter. It's not clear whether the allegations specifically relate to what went on at Hallmark/Westland, where a Humane Society investigator videotaped workers abusing cows that appeared unable to walk. Last summer, after lobbying efforts by the meat industry, the Agriculture Department added a caveat to the ban on bringing so-called downer cattle into the food supply. From the NYT:

When cows arrive at a slaughterhouse, a Department of Agriculture veterinarian inspects them to make sure they are fit for slaughter. Under the amendment, if a cow goes down after that initial inspection, the meat company is supposed to summon the veterinarian to determine whether the animal is healthy enough for slaughter. Mark D. Dopp, senior vice president for regulatory affairs and general counsel for the American Meat Institute, said the initial ban was too broad because it included animals that might break a leg or sever a ligament after the inspection.

Valley homes take another dive: January's median price was $500,000, an 18 percent drop from a year earlier (and down 25 percent from the record price set last June). It was the fourth straight month of prices declines. Of course, one big explanation for the plunging prices is that no one is selling. The entire Valley had just 323 transactions last month. (Daily News)

Toll road to LAX?: It might not be worth the upfront costs, especially at the outset, according to a Transportation Department study. The equipment needed to electronically collect fees would cost $40 million to $80 million. City Councilman Bill Rosendahl proposed a congestion-pricing system as a way of reducing LAX traffic, but the plan would actually have the reverse effect if toll booths were built. (Daily Breeze)

Northrop forms partnership: The company's space technology unit in Redondo Beach will share satellite development resources with Space Systems/Loral of Palo Alto. Under the deal, Space Systems/Loral will use Northrop's Redondo Beach testing facilities. The firms also will jointly pursue government satellite contracts using Space Systems/Loral's satellites and Northrop's payloads. (Daily Breeze)

Dodgers to pack Coliseum: They're now talking about 115,000 at the March 29 exhibition with the Red Sox. The team decided to add 25,000 tickets to the sold-out game, though many of those will be standing-room only. The game is being played at the Coliseum in commemoration of the team's 50th anniversary in Los Angeles. (LAT)

THR publisher leaves: John Kilcullen had only been around a little over a year (he had been with Billboard before that). He's leaving the company to, according to THR story, "pursue his passion as an entrepreneur." Along with Kilcullen's departure comes the formation of an entertainment group with Nielsen Business Media. Here's the breathless press release - er, story - that appeared this morning:

The creation of the Entertainment Group is another step in Nielsen Business Media's integration strategy, setting in place a more unified editorial approach across entertainment properties to provide audiences with the most inclusive, in-depth access to news, data, analysis and insights on every aspect of the industry. In addition, the comprehensive strategy offers advertisers in the film, television, music, theater and literary industries enhanced, integrated opportunities to connect with their target customers across all of Nielsen's platforms.