Tuesday morning headlines

Stocks begin to wobble: Seems like a long time since Friday's big gain. The Dow is down about 20 points.

L.A. home prices edge higher: They were up 0.3 percent from June to July and 7.5 percent from a year earlier, according to the Case-Shiller index. Home prices rose in most of the markets surveyed - and that's without the federal tax credit. (press release)

Widening gap between rich and poor: The top-earning 20 percent of Americans - those making more than $100,000 each year - received almost half of all income generated in the U.S., compared with the 3.4 percent earned by those below the poverty line, according to census figures. From AP:

"Income inequality is rising, and if we took into account tax data, it would be even more," said Timothy Smeeding, a University of Wisconsin-Madison professor who specializes in poverty. "More than other countries, we have a very unequal income distribution where compensation goes to the top in a winner-takes-all economy." Lower-skilled adults ages 18 to 34 had the largest jumps in poverty last year as employers kept or hired older workers for the dwindling jobs available, Smeeding said.

Consumer confidence still weak: September's reading was down sharply from the previous month. (press release)

Still stuck on sex: About 40 percent of the U.S. managers in 2007 were women, the same level as in 2000, according to a government report. From the NYT:

The gap between what men and women earn has shrunk over the last few decades. Full-time women workers closed the gap to 80.2 cents for every dollar earned by men in 2009, up from just 62.3 cents in 1979. Much of this persistent wage gap, however, can be explained by what kinds of jobs the sexes are drawn to, whether by choice or opportunity.

Burkle loses Barnes & Noble showdown: As posted below, shareholders stuck with current management, led by Chairman Leonard Riggio.

More progress in budget talks: The governor and legislative leaders met for 90 minutes last night and planned to continue talks later today. Senate Minority Leader Dennis Hollingsworth, R-Murrieta, estimated Monday that they are only about 80 percent to 90 percent of the way toward a final agreement. From AP:

Among the sticking points in closing a deal are Schwarzenegger's demands for tax reforms, budget reforms including creating a rainy day fund, and public pension reforms including rolling back benefit increases approved 11 years ago. "There are a lot of moving parts that are still getting worked on: pension reform, reductions, budget reform. Believe me, the list is much longer," said Department of Finance spokesman H.D. Palmer.

About Northrop job cuts: Most of the 500 local layoffs will be from facilities in Redondo Beach, El Segundo and Manhattan Beach, with some cuts in Palmdale and San Diego. They're not connected to the company moving its headquarters back east. (Daily Breeze)

Ezri Namvar's court appearance: The indicted real estate mogul declined to enter a plea on federal charges that he stole $23 million from clients. Bail was set at $300,000. (LAT)