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Stocks edge higher: Lots more earnings reports this week, which should set the tone. Dow is up about 80 points in early trading.
Black Monday anniversary: It was 22 years ago today that the Dow fell 22.6 percent. They're still debating the reasons it happened, though program trading is the most common explanation cited. (Business Insider)
L.A. shells out more: The cost of lawsuit settlements and verdicts for Los Angeles County jumped by 16 percent in 2008-2009., to a record $114 million. That compares with the previous high of $109 million set in 2002-03. (Daily Breeze)
Luxury spending starts to stabilize: The projected 8 percent decline, to $227 billion, is a little better than an earlier forecast. A new study points to less discounting and more signs of consumer confidence. (WSJ)
Vivendi's demand to dump NBC: The French conglomerate and NBC parent GE are about $500 million apart, the WSJ reports. Vivendi's divestment of its 20 percent stake is is a key element of Comcast's interest in taking control of NBC Universal.
One person familiar with the price discussions said Vivendi's asking price is higher than anticipated, but "hardly a deal killer." That person cited the strong euro as one reason for the price gap.
Dan Glickman to leave MPAA: The head of the motion picture trade group - and the guy who replaced Jack Valenti - says he'll step down in September 2010. From Politico:
The race to land this plum position is set to be intense. The combination of a high salary and high-profile mingling with celebrities makes it one of Washington's most coveted jobs. The impending departure of Glickman, who took over for Valenti in 2004, has sparked whispers about a replacement. Possible names include California Gov. Arnold Schwarzenegger, former Rep. Harold Ford Jr., Universal Music lobbyist Matt Gerson, Rep. Howard Berman (D-Calif.), a longtime friend of Glickman's, and internal candidates Richard Bates of Disney, MPAA COO Bob Pisano and federal affairs chief Michael O'Leary.
L.A.'s largest private companies: Annual Business Journal list has private equity firm Platinum Equities in the top spot, at $11.3 billion in revenue. No. 2 is Murdock Holding, though that will change next year when the company's Dole Food unit is spun off into a public company.
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.