Friday morning headlines

Stocks hover around the line: Another sluggish start. Dow is up a few points.

Gas prices start to fall: The drop was only about half a penny from Thursday, but it marked the first overnight decline in quite a while. Average gallon of regular in the L.A. area is $4.395, according to the Auto Club.

Gas prices hit consumers: L.A.-area inflation rose 0.5 percent from January to February and 2.1 percent from a year earlier. Most of hike is due to fuel costs. (OC Register)

Consumer mood dips: Higher pump prices no doubt played a role in the Thomson Reuters/University of Michigan's preliminary reading for March falling to 74.3 from 75.3 in February. Still, consumers did not expect the run-up in gasoline prices to last very long. (Reuters)

Warning on American bankruptcy: The airline's CEO says that a prolonged period of court protection raises the risk of a takeover or even liquidation. From the WSJ:

AMR is pressing its labor unions to accept concessions it says are essential to cutting its costs and returning to profit. [Tom] Horton, in Chicago to visit supplier Boeing Co. BA -0.30% and American Airlines employees at O'Hare International Airport, said AMR's turnaround plan "is a really good one...But it's not inevitable." He said he hammers home that message when he travels the country, meeting employees in crew rooms, cockpits and galleys, telling them, "We must move forward." AMR's labor unions have expressed dismay at the size of the cuts and negotiations are moving slowly.

Rocketdyne up for sale: The Canoga Park unit of United Technologies builds rocket engines and has played a key role in space exploration. From the LAT:

The sale of Rocketdyne comes less than a year after NASA ended its 30-year space shuttle program. Rocketdyne developed, built and refurbished 56 reusable engines for the program. NASA has outlined its engineering design for its next launch system, but the agency has not provided specifics on where the nation will travel in the solar system and when exactly it will conduct such missions. "Without a national space policy, growth will be limited," United Technologies Chief Financial Officer Greg Hayes told the company's annual analysts meeting in New York.

Insider trading charged: A former executive of CKE Restaurants, the parent of Carl's Jr., is accused by the SEC of buying company shares after learning about acquisition plans. To settle the charges, Noah Griggs will pay $268,000. (LAT)

Steve Wozniak waiting in line for iPad: The Apple co-founder, who arrived at the Apple store in Century City at noon on Thursday, says he enjoys talking to people. (CBS Los Angeles)


More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent Aerospace stories:
Why they keep flying into Santa Monica airport
Morley Builders says CEO and son were in SMO crash
Deaths in jet crash at Santa Monica airport
Boeing to end C-17 production in Long Beach
How much longer can C-17 production last in Long Beach?

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner


Advertisement
Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook