Friday morning headlines

Stocks backslide: Caterpillar earnings did not meet expectations, though GE and McDonalds reported strong results. Dow is down 45 points.

NFL players slow to sign deal: And they're apparently not happy that the owners approved an agreement they had not seen. They have until Tuesday to vote, and ratification is suddenly not all that certain. From the NYT:

If players were to reject the deal, it would plunge the N.F.L. into further uncertainty -- and perhaps even more negotiation -- with less than two months until the regular season is scheduled to begin. The Hall of Fame Game, which was scheduled for Aug. 7, has already been canceled.

Why Selig objected to McCourt's Fox deal: The baseball commissioner told the Dodger owner that the big TV contract would have actually worsened the team's financial condition. From the LAT:

"Despite your pledge to make the Dodgers the 'best franchise in baseball,' you are not selling the club's media rights ... to improve the club's on-field performance, renovate Dodger Stadium or enhance the fan experience," Selig wrote. "Rather, you would be continuing an eight-year pattern of exploiting the Dodgers franchise to finance your own personal needs, which would undoubtedly risk further erosion of public confidence in the Dodgers."

Senate rejects House deficit plan: Vote on the tea party-backed measure, which demanded that a balanced-budget amendment be sent to the states, was 51-46. (AP)

Decent marks on budget process: California voters are not happy about steep cuts in education and healthcare, but a LAT/USC poll shows support for the budget's higher vehicle fees and a new fire levy. They're about evenly divided on paying sales tax when buying items from online retailers.

Condos for Century Plaza?: The $2-billion proposal calls for renovating the landmark property, sharply reducing the number of rooms, and adding 63 condominiums. Preservationists had been opposed to razing the concave modernist structure, which had been the original plan. (LAT)

Minkow sentenced to five years: The scamster-turned-minister-turned-law enforcement consultant-turned-scamster pleaded guilty for his role in a stock-manipulation scheme involving homebuilder Lennar Corp. (Bloomberg)

Gas prices inching higher: Less than two cents a gallon in the L.A. area, according to the Auto Club, to $3.82. But oil prices are back up again, so watch out.