Tuesday morning headlines

Stocks still way down: After a big drop at the opening bell, the Dow tried to come back, but at last check is still down more than 200 points.

Oil below $68 a barrel: That means cheaper gas, which is nice, but it also means there are doubts about the global economy. (AP)

Case-Shiller prices fall: L.A. saw a 0.7 percent drop from February to March, though prices were still up 6 percent from a year earlier. From press release:

"The housing market may be in better shape than this time last year; but, when you look at recent trends there are signs of some renewed weakening in home prices," says David M. Blitzer, Chairman of the Index Committee at Standard & Poor's.

Airlines add fees: Summer vacations just got a little more expensive - the nation's largest carriers will be charging a "peak travel surcharge" of up to $30 per seat. From the LAT:

"What we are seeing, basically, is a change in the way the airlines raise their fares," said Rick Seaney, founder of farecompare.com. Airline officials defended the surcharges, saying that more planes will fly at near capacity this summer, and noting that the new charges will be clearly spelled out to passengers before they buy a ticket.

LAX enterprise zone created: Tax credits, fee waivers, utility discounts and other incentives will be extended to businesses within 1,000 or so acres of industrial and commercial land surrounding the airport. (Daily Breeze)

Creditors now controlling MGM: Hedge funds that hold large portions of the studio's debt are putting aside a management restructuring plan, as well as an offer from Time Warner. From the LAT:

The debt holders are considering a strategic partnership with such companies as Summit Entertainment, the independent studio behind the "Twilight" movies, and production and financing company Spyglass Entertainment. In exchange for equity in a restructured MGM, the partner would oversee a small production slate and manage the 86-year-old studio's 4,000-title library, which controls the James Bond franchise. But a cohesive plan has yet to materialize and must be accompanied by the none-too-simple task of raising money for operations and new movies.

"Lost" ratings: ABC scored well in the final episode of the series, but far from the numbers recorded for previous finales. From the WSJ:

The end of "Lost," coupled with Monday night's final episode of "24" on the Fox network, marks a twilight for heavily "serialized" shows, or series with plots that extend from week-to-week rather than have tidy ends each episode. "Lost" and "24" helped spark a flurry of such shows, but broadcast TV now is moving away from serialized dramas, which tend to be expensive to produce and are worth less in reruns than series like "CSI."

Ponzi scheme alleged: Federal regulators have filed civil charges against two men accused of running a scam that targeted Latinos. They're said to have lied about investments in oil, gold, silver, and other commodities potentially doubling investors' money. (LAT)

Lacter on radio: This morning's business chat with KPCC's Steve Julian looks at inflation in the L.A. area - or lack of it - and the higher ticket prices for 3-D films. Also at kpcc.org and on podcast (Business Update with Mark Lacter)