Monday morning headlines

Another drop in oil: Crude prices were up for a while this morning on concerns about Nigerian production, but they're back down, to under $123 a barrel. In an interview with NBC, Iranian President Mahmoud Ahmadinejad said world oil prices are overvalued and "not realistic." (CNBC)

Toyota cuts forecasts: The Japanese car giant now expects to sell 2.44 million vehicles in the U.S. this year, far less upbeat than the earlier plan to sell 2.64 million vehicles. It also marks a nearly 7 percent drop from the 2007 sales results. Even Toyota is struggling to shift production from trucks and SUVs to smaller models (AP).

Upping LAX landing fee?: The Board of Airport Commissioners will consider today whether to increase the fees from $3.35 to $3.85 for every 1,000 pounds of aircraft weight. Under the plan, it would cost $2,194 to land a Boeing 747-400 jetliner at LAX, up from $1,909. Airport officials are trying to generate more revenue at a time when the airlines are making plans to drop thousands of weekly flights at LAX. (Daily Breeze)

SAG shows unity: By a 68-0 margin, the board of the Screen Actors Guild supported the efforts of union negotiators to focus the contract talks on new media. While the resolution should not suggest newfound solidarity within the fractious union, it does point to a continued stalemate in contract talks with the media companies. From THR:

"It was very, very chilly most of the day," [a] board member said. "Do not read into this that we left singing 'Kumbaya.' It was a business meeting, and this was a business decision that was made. It is not in any way an endorsement of Doug Allen or (SAG president) Alan Rosenberg. This is simply where we want them to focus." The board member also said the resolution is a nudge to the negotiating committee and Allen and Rosenberg to drop some sticking points, such as an increase in DVD residuals and a bump in mileage reimbursement.

Hollywood's changing times: Is Steven Spielberg just too expensive for the big U.S. media companies? That's what a Sunday NYT piece suggests, pointing to the ongoing negotiations with an Indian media conglomerate - and not the usual Wall Street and Hollywood suspects.

Hollywood’s seeming inability to close a deal with Mr. Spielberg highlights the shift toward a more corporate, buttoned-down movie business. Just a few years ago, bragging rights often drove business decisions. Steven Spielberg is available? Back up the money truck. We want that jewel in our crown no matter what the cost. And studio bosses could justify such ego-driven loss leaders: In the entertainment business, talent draws talent.

[CUT]

But now that the big studios are all firmly embedded in big corporations, profit margins are the obsession. Add in skyrocketing star salaries and ballooning marketing costs, which have hammered margins, and pop go the sweetheart deals. “Big names don’t carry the same weight they used to,” Harold L. Vogel, an independent media analyst, told The times.

Slow go for Fox Business: For the first three weeks of July, the upstart network averaged just 8,000 viewers during the daytime hours, compared with CNBC's 284,000 (ouch!). Actually, that's a little better than last fall, when just 6,000 daytime viewers tuned in. Fox Business is in 40 million homes, compared with more than 90 million for CNBC. Fox executives say they are not surprised. (Washington Post)