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Stocks open higher: Market's upward momentum continues. Dow is up about 60 points.
Upbeat hiring plans: More than half of California employers surveyed say they'll add workers, bump pay and maintain retirement benefits this year. (Sacramento Bee)
More IOUs for California?: State Treasurer Bill Lockyer warns that it might happens as early as April if Gov. Jerry Brown and the Legislature cannot cut a budget deal. (Capitol Alert)
Office market struggles to stabilize: Socal rents and occupancy fell in the fourth quarter, but lease deals picked up a bit. From the LAT:
The Southern California market has shown sparks for the last few months as new leases were signed and some companies even expanded their offices, but the overall market has been stubbornly disappointing to landlords who would like to fill their buildings and charge higher rents. While some firms were ready to make commitments to stay put or expand, others gave up space or moved someplace else. "Every time we think we are going to get ahead in a certain submarket, someone bails out," said Jonathan Larsen, an executive managing director at Transwestern real estate brokerage.
TCW loses round in court: The L.A.-based money management giant can't seek a court order temporarily closing DoubleLine Capital, the firm formed by ex-TCW investment officer Jeffrey Gundlach. (Bloomberg)
Council adjusts pot ordinance: A lottery will be used to determine which 100 dispensaries will be allowed to stay open in the city. Only the shops that were open before Sept. 14, 2007 would be eligible. (LAT)
Electric car company hires CEO: Auto executive Philip Murtaugh will head the Santa Monica-based company, succeeding Kevin Czinger. (LABJ)
Is there an Oscar race after all?: By naming "The King's Speech" as the year's best film, the Producers Guild appears to have shaken up prospects for "The Social Network." (The Wrap)
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.