Follow LA Observed on Twitter here
Republicans don't want taxes raised on the upper class and Democrats don't want entitlements lowered on the middle class. In other words, both sides want what they want.
LA Biz Observed archive
Mark Lacter covered business, the economy and more here from 2006 until his death on Nov. 13, 2013.
The entire LA Biz Observed archive — more than 10,000 blog posts by Mark —
remains online and available.
November 2012
About those studies that link foods to cancer? Many of the connections are tenuous at best. Guess we can all eat parsley again.
As port activity shuts down, labor talks resume, Socal Edison electricity rates to go up, consumer spending dips in October, and L.A. Auto Show opens to the public.
But you still hear questions - and criticism - about where and how the money is used.
The potential impact of a full-scale strike would be serious to the local economy (a 10-day lockout in 2002 resulted in billions of dollars of losses), but it seems unlikely things will reach that far.
Not that long ago, $300 a night used to be considered high end. Then it was $500. Now? Well, you can easily shell out $700 for a not-so-wonderful room.
That's if they can't resolve Washington's budget stalemate. About 400,000 Californians might be affected.
November was weakish month for retailers, third-quarter growth revised upward, walkout spreads at the ports of Los Angeles and Long Beach, and Jeff Zucker officially gets CNN job.
For some reason, the market is encouraged about the prospects of a deal. Don't believe it - Hollywood's classic "Nobody knows anything" line really seems apt here (except Hollywood has nicer-looking players).
Namely the fact that California has come off several years of massive cost cutting - and these are not temporary cuts. That money is basically gone.
As part of the agreement, Brookfield Homes will pay more than $250 million for the remaining 110 acres of undeveloped land.
California gas spikes revisited by senators, UCLA hospital gets F grade on preventing medical errors, Anthem plans rate hike for individual policyholders, and picket line at the Port of L.A.
This highly creative two-minute ad for The Guardian is worth a look. Adweek named it the best commercial of the year.
Another jump in L.A. home prices, consumer confidence reaches a 4-year high, U.S. regulators bar Intrade bettors, and local gas prices are 90 cents a gallon cheaper than in early October.
Frankly, there's plenty of evidence to suggest that you're not getting especially good deals by shopping on Black Friday - that you often end up buying more stuff than you planned and at prices that aren't all that low.
About 12 so far, according to KNX, but apparently the brief disruption had been anticipated and there doesn't appear to be any major problems.
There's no telling how many protesters will show up or how badly this will disrupt holiday traffic, but it probably won't be great: Century Boulevard and Sepulveda Boulevard are expected to be shut down for at least portions of the afternoon.
For years the guy has gotten a free ride, first in L.A. and more recently in Washington.
An eleventh-hour mediation effort failed to result in a deal between the company and the bakers union.
Today's City Council vote came despite Service Employees International, one of the city's largest public employee unions, coming out late last week against the proposal, which would raise the sales tax in Los Angeles to 9.5 percent
A Bloomberg analysis found Target running a few bucks cheaper than Walmart: $45.48 versus $52.31, based on a basket of 18 items.
Judges are supposed to recuse themselves when there's a financial conflict, but Manuel Real, a federal district judge who has been reprimanded in the past, apparently issued rulings anyway.
HP takes huge charge because of financial irregularities at a company it bought, Best Buy reports big loss, Pasadena City Council agrees to have NFL team at the Rose Bowl (if one comes along), and TV Guide.com could be sold soon.
Markets don't keep going up or down and so after several weeks of steep declines, the Dow gained 207 points, to 12,795.
Hostess and the bakers union have agreed to mediation, CNBC reports, which means that the maker of Twinkies, Ho Hos and Wonder Bread might not be shutting down - at least not immediately.
Californians feeling more upbeat about the economy, little relief from mortgage settlement involving the major banks, Virgin America trimming flights and canceling orders, and big numbers from Activision.
The former TV executive won't be formally named until the parent company of the LAT comes out of bankruptcy protection in the coming weeks.
Well, maybe the last. Hostess says it has received proposals to buy some of the assets, but the cold reality is that businesses cannot survive on nostalgia.
Ever so slowly, the numbers are approaching the single digits. Perhaps more importantly, employers added 45,800 jobs to the state rolls in October.
That's right - one bedroom (though there are two guesthouses, each with an additional bedroom).
Wall Street still struggling, new ideas for averting the fiscal cliff, Hostess moves to liquidate after failing to reach a labor deal, and OC Register owner wants to buy the LAT.
A major revamp of California's third rail has been in the cards for years - it's always been a matter of when the politics would be most favorable.
What on earth is happening to our judicial system? An improved budget situation in Sacramento appears to be having little or no impact in the courts. It's a civic disgrace.
An announcement could come as early as this afternoon, reports the LAT. The El Segundo-based satellite service had been balking at the price being asked by Time Warner Cable, which has exclusive rights to the games through its new SportsNet and Deportes channels.
Huge jump in jobless claims because of Hurricane Sandy, L.A.-area inflation shot up last month because of high gas prices, 10 courthouses could close in L.A. County, including locations in Beverly Hills and West L.A., and Riordan agrees to debate pensions.
Projected shortfall is way lower than what California faced earlier this year. If the economy improves and the stock market cooperates, the state could even see a surplus in 2014.
Nearly four years after the parent company of the LAT filed for Chapter 11, the end appears to be in sight. Now what?
What mainly drove down the market is what's been driving it down for several weeks: Concern about Washington's fiscal cliff and the possibility of increases taxes on capital gains.
Mayor's office is trumpeting the new facility, which will house the company's distribution, logistics, e-commerce, merchandising, and warehouse operations. It seems like an entrepreneurial success story, except...
The president seemed to mark his ground by declaring that he would not extend tax cuts at upper levels. Republicans in Congress want the Bush tax cuts extended for everyone.
That would be DirecTV subscribers who still can't receive Time Warner Cable's SportsNet channel because the satellite company and the cable company still haven't come to terms on a distribution deal.
California's cap-and-trade program makes its debut, departure of senior Microsoft executive creates a stir, high deductibles becoming more popular with employers, and Michael Eisner gets a movie deal.
Ron Pernick, author of two books on innovation and the clean-tech business, will be speaking at the next Live Talks Business Forum.
One of the prices of being a TV personality is getting examined a lot closer - and a lot more critically - than the average Joe, or in this case Guy.
They're even lower than the national average (and those rates were pretty darn low).
The half-cent increase would boost the sales tax in L.A. from 8.75 percent to 9.25 percent. If L.A. voters approve the measure, proceeds will go towards paring the budget deficit.
Much of the local market is smoking. It's really the combination of pent-up demand in the $500,000 and up price range, along with very limited supply in the most sought-after locations.
Late mortgage payments fall to lowest level in more than three years, City Council to vote on sales tax hike, business owners receive tax breaks after contributing to assessor's campaign, and SEC investigating L.A. money manager.
Only 42 percent of L.A. buyers could afford to purchase a median priced single-family home ($355,700) in the third quarter, says the California Association of Realtors.
In fact, the U.S. will become a net oil exporter by 2030, a stunning turnabout from the days of energy dependence.
Market investors concerned about higher taxes on capital gains, young voters helped save Proposition 30, Villaraigosa plans trade mission later this month to South America, and James Bond dominates the box office weekend.
Christopher Kubasik was set to start his new job in January. Longtime executive Marillyn Hewson will now become chief executive. .
Sales of expensive purchases could fall as much as 3.9 percent if the proposed increase goes through, according to Beacon Economics, though the overall sales drop would be closer to 1.3 percent.
Social Security is expected to increase, but not at an alarming level. Spending on everything else is actually falling. It's health care that's the problem.
Elon Musk's company is hiring lots of people (close to 2,000 workers at last check). Still, Space X remains a work in progress - as does the refashioned space business.
Consumer sentiment hits five-year high, Disney meets expectations thanks to ESPN and theme parks, Chief Charlie Beck warns of officer layoffs unless the sales tax is raised, and Michael Jackson's Holmby Hills home is sold.
Readers have been commenting about IBM CEO Virginia Rometty getting a base salary that's lower than what former CEO Louis Gerstner was making in 2000.
Whether she can gather support among a fragmented electorate remains to be seen, but her speech today was more impressive than anything I've heard in this still-early campaign.
Municipal elections are just around the corner, and they will be a big deal - not just because voters will be selecting a mayor, but because at least one measure to raise taxes is likely to be on the ballot.
Businessweek is out this week with another of its provocative covers, this time a photo illustration of how the job of president can take its toll.
Wall Street continues to slide, state Democrats appear to have won supermajority in Assembly and Senate, Villaraigosa seeks funding alternatives after Measure J goes down, and another tough day to travel back east.
Or perhaps it's Time Warner Cable balking at what DirecTV has offered to carry the Laker channel. Whatever the case, both sides have yet to reach a deal and that has many thousands of DirecTV customers unhappy.
Several business units will be consolidated and some facilities in Seal Beach will be closed as part of the cost-cutting effort within its defense operation.
One kind of uncertainty (the election) was resolved, but it was replaced with other uncertainties. Dow plunged 312 points.
"For all the ridicule directed towards pre-election polling, the final poll estimates were not far off from the actual nationwide vote shares," said a Fordham University researcher.
The transit tax extension received almost 65 percent of the vote. It deserves to win passage, period.
The day after most of them went down to defeat, you have to wonder whether they now think it was worth the effort - and the dollars.
So much for the Obama rally. Now that the presidential election has been resolved, investors are focusing their attention on Washington and that dreaded fiscal cliff.
Credit stepped-up advertising, Gov. Brown's statewide campaigning, and the fact that the tax measure was on the November ballot, when turnout was going to be larger than at any other time of the year.
Polls closed at 4 p.m. L.A. time, but it's likely to be well into the evening before a projection is made.
An Obama rally? Seems unlikely, given his unsteady relations with the financial community, but the Dow is up more than 50 percent since the president took office.
Operators are paying close to $10 per subscriber per month, an increase of more than 90 percent. And that doesn't including the upcoming Dodger TV deal.
Airlines have been cutting back, especially since the recession, and a number of second-tier airports are taking serious hits.
Not that $1.5 million isn't a handsome wage (and that's not including bonuses and perks), but it isn't what the guys were making.
Bracing for tax hikes no matter who is elected, state regulators consider criminal charges involving an $11 million political contribution, iPad market share takes a dip, and American Suzuki files for bankruptcy and will no longer sell cars in the U.S.
Three high-profile releases have been pushed back next year, forcing the Agoura Hills-based company to raise new capital in an effort to keep going.
Complimentary valet parking and hors d'oeuvres throughout the day - sure beats an "I Voted" sticker.
Of the 30 most recent polls in the state, Romney leads in just two - and both surveys come from Republican-leaning groups.
The California courts required an Arizona group to turn over donor information to the state's Fair Political Practices Commission.
Arizona group turns over donor records, L.A. area gas prices nearing $4, Time Warner Cable cuts deal with Cox Cable on carrying Laker games, and first Dreamliner lands at LAX.
The Dow dropped 139 points - roughly what it gained on Thursday and another sign that investors remain conflicted on the short-term direction of the economy.
Indra Nooyi will receive this year's John Wooden Global Leadership Award from the Anderson School of Management.
What's needed are shorter-term strategies for incrementally improving rush-hour flows. Of course who wants to cut commuter times by a measly three or four minutes?
L.A. gas prices plunge 60 cents a gallon from all-time high, San Onofre shutdown costs utility more than $300 million, nearly six of 10 California homes for sale are receiving multiple offers, and fading support for Prop 32.
Beyond all the predictable rhetoric, not much has changed: The economy continues to grow at a relatively modest pace - and for reasons that go way beyond presidential politics.
This one involved the Play Fair at Farmers Field Coalition, which wanted to invalidate a state law that limits legal challenges against the facility.
You don't want to count on natural disasters to provide an economic stimulus. Yes, there will be some upside as victims are forced to purchase furniture, clothes, and cars. But there's a downside as well.
Intrade gives the president a 67 percent probability of being reelected, up several points from last week, while British-based Betfair is running just under 75 percent.
The Elon Musk company has been leasing any and all available property close to its headquarters, formerly the building where Northrop made fuselages for the Boeing 747
Retailers report strong sales in October, consumer confidence at highest level since early 2008, airline schedules to NY returning to normal, and Prop 30 is "tantalizingly close" to passage.
Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.The multi-talented Mark Lacter
New at LA Observed