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Rally keeps going: Dow crossed the 10,300 mark and has since pulled back in early trading. Overall signs point to more gains (for now).
Macy's raises outlook: Better sales online and at Bloomingdale's are apparently having an effect. But the overall numbers are still quite weak. (AP)
FedEx sees pickup: The package-delivery giant expects to handle about 8 percent more shipments on its busiest day before Christmas. The forecast is an "encouraging" holiday-season signal, said a FedEx executive. (Bloomberg)
Wal-Mart open Thanksgiving: The extended hours at most of its discount stores are meant to prevent long lines from forming in the early morning hours of Black Friday. Last year a store employee was trampled to death because of a rush to get in. (NYT)
THR being sold?: That's what Sharon Waxman is reporting at The Wrap (as Kevin posted last night). Buyer is said to be James Finkelstein, who owns The Hill in Washington. Also included in the possible deal are Billboard, Adweek, Brandweek and Mediaweek.
It is unclear what Finkelstein's plans would be for the trades. He started in publishing while a student at New York University working for his father, Jerry Finkelstein, publisher of the New York Law Journal--founded in 1888--as well as a number of New York-area newspapers.
CA boosts muni market: The state had to shell out tax-free yields of 4 percent for a $1.9 billion bond offering this week. Less than two weeks ago the yield was 2.48 percent on a similar bond. The market has become saturated with Cali paper, which of course increases borrowing costs. (Money & Co.)
Free Wi-Fi for Christmas: Google, Microsoft and Yahoo are all offering free online access airports, hotels and other public venues. This isn't about holiday cheer - it's a marketing effort to push new or expanded services. (Digits)
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.