Tuesday morning headlines

Stocks keep falling: Is the Dow down 130 points this morning because of that skirmish between North and South Korea, or because of the insider trading case, or because of the drop in home sales? There are lots of possibilities.

Q3 GDP revised higher: The economy grew at an annual rate of 2.5 percent in the July-September period, up from the initial 2 percent figure. Revision was slightly ahead of expections. (Calculated Risk)

Gas prices edge higher: The holiday weekend should bring the highest pump prices all year. An average gallon of regular in the L.A. area is $3.184, according to the government's survey. From the WSJ:

Analysts blame the recent price increases on temporary shutdowns at refineries in the U.S. and France, as well as on weakness in the dollar in early November, which led to higher oil prices. They predict the cost of gasoline will stop rising or will fall by the end of the year, but they fear the relatively high prices could dampen the already sluggish pace of economic recovery, as consumers sacrifice a bigger portion of their paychecks to the fuel pump. This is an especially critical factor heading into the holiday shopping season, when many retailers ring up a large portion of their annual sales.

J. Crew nears sale: L.A.-based Leonard Green and another buyout firm, TPG Capital, are set to purchase the retailer for about $2.8 billion. Both firms would work with the company's chairman and chief executive, Millard Drexler. (DealBook)

California bond sale draws investors: A jump in yields did the trick. What had been expected to be a $1-billion sale on Monday was upped to $1.25 billion, and even then there were more orders than could be filled. (LAT)

Netflix alters plans: It's raising prices by $1 to $8 a month, depending on what plan you have, and introducing a streaming-only subscription for $8 a month. (NYT)

Northrop cries foul over solar plan: The aerospace company says that a proposed 230-megawatt plant near Rosamond could impair operations at an installation that tests stealth technology on aircraft. From the LAT:

Gov. Arnold Schwarzenegger and other supporters fear that if Northrop succeeds in blocking the project, the state would be hobbled in its efforts to create tens of thousands of green-tech jobs and fight global warming by building renewable power plants in the sun-drenched desert of Southern California. "It is important that this project move forward, not only for Los Angeles County, but in order to achieve the policy objectives of the state of California," Schwarzenegger wrote Monday to the Los Angeles County Board of Supervisors.

Judge may bar building sale: A lawsuit contends that the state cannot sell buildings with appellate courts in them without the approval of the state Judicial Council. The Ronald Reagan State Building in downtown L.A., one of the 24 properties being sold for $1.2 billion, houses the 2nd District Court of Appeal. (LAT)

Qantas bringing back some A380s: The Australian carrier had pulled the super-jumbo after a massive in-flight engine failure. An investigation is still under way into the cause of the disintegration of a Rolls-Royce Trent 900 engine. (AP)

LAX extends concessions: Seven companies can keep operating shops and restaurants for another year because it took longer than anticipated to award a new round of concession deals. (Daily Breeze)

CEO named:Investment banker David Weinstein replaces Nelson Rising at L.A.-based MPG Office Trust. Rising resigned after disagreeing with the board about how to raise capital and manage the company's heavy debt. (LAT)