Thursday morning headlines

Market takes off: Dow is up more than 200 points in early trading and crosses the 10,100 mark. One of the explanations is a government report showing that the number of laid off workers receiving benefits fell sharply.

Mixed bag on May foreclosures: California filings were up 3.3 percent from April, but down almost 22 percent from May of 2009. One out of every 186 California properties received a foreclosure notice in May. (RealtyTrac)

Mortgage rates near all-time low: Average rate on 30-year fixed is 4.72 percent, just above the record of 4.71 set last December. (AP)

Hotel demand edges up: Haven't seen the local numbers, but U.S. occupancy levels are expected to rise 3.6 percent this year, to 56.7 percent, and revenue available per room is forecast to increase 3 percent. Luxury players are leading the way. (WSJ)

Reviving California Adventure: Disney introduces World of Color, a $75 million water show that's part of a $1 billion overhaul for the struggling park. From the NYT:

In addition to World of Color, which will be presented two or three times each night, California Adventure additions include a ride based on "The Little Mermaid" and a 12-acre expansion devoted to "Cars," the animated film by Pixar. There is also an array of broader overhauls -- a new entrance, brick streets instead of asphalt -- that aim to make the park more intimate and emotion-tugging, said Robert W. Weis, executive vice president of Walt Disney Imagineering.

How many layoffs?: L.A. Mayor Antonio Villaraigosa tells Fox News that 3,500 workers will have been cut from city payrolls come July 1, but the budget approved in May calls for 761 job cuts. (L.A. Daily)

Rank-and-file approves Boeing contract: The 1,700 C-17 workers signed off on a new labor deal that ends a month-long strike. The agreement improves employee healthcare and pension plans. (Press-Telegram)

No more Chevy: GM honchos want their employees in Detroit to refer to the brand as Chevrolet. From the NYT:

"When you look at the most recognized brands throughout the world, such as Coke or Apple for instance, one of the things they all focus on is the consistency of their branding," the memo said. "Why is this consistency so important? The more consistent a brand becomes, the more prominent and recognizable it is with the consumer." Although the memo cites Coke, it does not note that Coke is shorthand for Coca-Cola -- or that Apple is not commonly used in reference to its products, which are known simply as iPads, iPhones and MacBooks.

CBS wants more cable fees: The company proposes that money be taken from the less watched cable channels and used to hike CBS retransmission fees. From the NY Post:

Speaking at an investor conference earlier this month, CBS CEO Leslie Moonves appeared to tip his hand, saying: "When you see the Karate Channel [known as Blackbelt TV] getting seven cents . . . I think you'll find some of those channels that really go to very small viewership, I think that's where the money will come from."