Wednesday morning headlines

Stocks head higher: Wall Street's upbeat mood continues, perhaps helped along with some good earnings reports. Dow is up about 110 points in early trading.

Apple stock tops $300: First time that's ever happened. Company now has a market capitalization of $275 billion, more than Microsoft.

Who won last night's debate?: Sacramento Bee columnist Dan Walters gives it to Whitman (as do I).

Whitman presented a more animated and extemporaneous demeanor than she had in past debates, while Brown, one of the glibbest politicians ever to draw a breath, often found himself on the defensive and made a couple of verbal gaffes. If debating is scored by how one meets, falls below or exceeds expectations, Whitman probably won on points Tuesday night - although whether her jousting with Brown has any lasting effect on their campaigns remains uncertain.

Money woes over jobless benefits: California could be shelling out as much as $500 million in interest from the $8.4 billion it's been forced to borrow from the federal government. From the OC Register:

California's unemployment insurance trust fund plunged into the red in January 2009. California is among 32 states and the Virgin Islands that have borrowed from the federal government to pay unemployment benefits. Collectively, as of August, they owed Uncle Sam $40.4 billion. The top 10 states, led by California, accounted for three-quarters of the total.

Maxine Waters proposes foreclosure freeze: The L.A. Democrat tells CNBC that homeowners facing foreclosure should first be offered mortgage modifications.

L.A. developer is targeted: Advanced Development and Investment is accused of submitting fraudulent bills for affordable housing projects and transferring as much as $80 million to personal accounts, according to a court-appointed receiver's report. Federal prosecutors have launched an investigation. From the LAT:

The report was filed in Los Angeles County Superior Court as part of a divorce proceeding involving the company's former president, Salim Karimi, and Jannki Mithaiwala, the daughter of company founder Ajit Mithaiwala. It was also turned over to the U.S. attorney's office and, at a hearing on Tuesday, receiver David Pasternak asked the court's permission to comply with subpoenas for records from a federal grand jury.

Food trucks to be graded: The County Board of Supervisors approved an ordinance requiring them to display letter grades assigned by health inspectors. From the Daily Breeze:

Food vendors will be graded on quality, receiving an A for meeting 90 percent or more of quality standards, a B for meeting 80 to 89 percent, and a C for meeting 70 percent to 79 percent of standards. Any truck that receives below a "C" grade will be shut down. Before, the trucks were required to undergo inspection once a year and pay certification fees, but they did not have to display quality grades, which will now be assigned based on a second health inspection.

Downtown stadium plan: AEG president Tim Leiweke is considering a proposal to take over management of the convention center space, while building an NFL stadium on land where the old West Hall now sits. But Leiweke says any such plan is at least a year away. (LA Weekly)