Tuesday morning headlines

Investors buying into a Democratic bloodbath?: In advance of the elections and the Fed's new efforts to boost the economy, the Dow is up about 60 points in early trading.

Smallish turnout expected: Just 55 percent of the state's registered voters are expected to cast ballots, according to the Field Poll (in 2008 it was close to 80 percent), and 55 percent are voting by mail. (Sacramento Bee)

GM to cut U.S. stake: The automaker's $10.6-billion initial public offering later this month should reduce the government's ownership to less than 50 percent. From the NYT:

Auto analysts have projected that G.M. could raise enough in its stock sale to eventually pay back much or all of its government-financed bailout, which included a quick bankruptcy filing that shed unwanted assets like dealerships and factories. But the plan will require both time and a rising stock price, both of which company and government officials acknowledge.

Local TV cleaning up: Attack ads do pay - TV spending for the midterm elections could top out at $3 billion, up from $2.7 billion in 2008. (NYT)

Venture capital's shrinking profits: The benchmark 10-year return was negative 4.2 percent at the end of the second quarter, compared with a positive 14.3 percent during the same period last year. (press release)

Bell's business fees: Sounds like an old-fashioned shakedown - payments to the city ran into the tens of thousands of dollars. From the LAT:

The payment scheme affected at least 15 businesses, mostly small operations that include restaurants, tire shops, auto detailers and a market. In some cases, merchants were directed to make thousands of dollars in annual payments as part of conditional use permits granted by the city. Others were required to guarantee thousands of dollars in sales tax revenue for the city each year. If their sales failed to measure up to projections, they were told to pay the difference, according to city records and interviews.

Investor loses big on MGM: Providence Equity Partners will be out $400 million when the movie company files for bankruptcy protection this week. Providence and TPG, along with Comcast and Sony, paid roughly $5 billion in debt and equity in 2005 to acquire then-publicly traded MGM from billionaire Kirk Kerkorian. (NY Post)

Gas prices steady: Average gallon of regular in the L.A. area is $3.142, about where it was last week, according to the government's survey.

McRib's brief return: The quite unhealthy but extremely popular patty pork sandwich will be available at all U.S. stores for six weeks, starting today. (LAT)