Los Angeles Business Journal

City Panel Created to Boost Jobs

Siding with local business groups, City Council President Herb Wesson announced Wednesday the formation of a panel to look at ways to boost employment in Los Angeles, the Los Angeles Daily News reports. He emphasized the city has no plan to create jobs, conflicting with Mayor Eric Garcetti, who recently said the business community’s concerns about anemic job growth were “abstract complaints.”

Bawdy ‘Campsite’ Upsets Hollywood Hills

An Airbnb “campsite” amid multimillion-dollar homes in the Hollywood Hills has neighbors riled up, claiming some campers are drinking and having sex in the open, NBC Los Angeles reports.

Weak Jobs Report

Employers nationwide added 223,000 jobs last month and the unemployment rate fell to 5.3 percent, compared to 5.5 percent in May, the Labor Department reported this morning. However, the Wall Street Journal reports, the job numbers were less than expected and the lower unemployment number reflects the fact that fewer Americans looked for jobs.

Tesla Speeding Up

Billionaire Elon Musk may be troubled by SpaceX, but his Tesla Motors Inc. beat its sales forecast with a 52 percent surge in the second quarter, Bloomberg reports.

LADWP Settles Consumer Suits. Or Not.

The Los Angeles Department of Water and Power has agreed to refund those who were overcharged because of a faulty billing system, according to a court document filed Wednesday, the Los Angeles Daily News reports. However, a consumer attorney has filed objections, saying the deal was done in secret and “none of this makes any sense.”

Cutting Back on Water

Hey! You Californians are getting good at conserving water. Residents cut their water usage by nearly 29 percent in May, according to the State Water Resources Control Board, the Los Angeles Times reports.

Bad News for Middle-Wage Earners

While the California job market is looking good overall, middle-income employees are making much less money than they were before 2006, the Los Angeles Times reports.

Export-Import Bank to Liquidate?

Following this week’s expiration of the Export-Import Bank, some Republicans are demanding to know how the bank plans to liquidate its assets. The bank, a relic of the New Deal, existed mainly for crony capitalism, Republicans say, but Democrats hope to revive the bank later this month, Yahoo News reports.

BP May Mean ‘Big Payment’

Officials with BP America Inc. have agreed to pay $18.7 billion over 18 years in state and federal claims after the deadly Deepwater Horizon oil spill five years ago, the Wall Street Journal reports. The settlement involves claims made by 400 state and local governments.

Airlines Flying into Turbulence?

If you thought airfares were getting high, you’re not the only one. The Justice Department has launched an investigation into whether major airlines worked together to illegally limit the number of seats on flights to keep airfares up, Reuters reports.

No More ‘Dukes of Hazzard’ on TV Land

There won’t be any more “good ole’ boys” on TV Land as the cable network has pulled reruns of the “Dukes of Hazzard” due to its use of the Confederate flag, the Hollywood Reporter reports.

Record Find

Good news for some wealthy Bob Dylan fan: a rare record of the singer's classic Blood on the Tracks from 1974 is on sale at Amoeba Records for – get this – $12,000, LAist reports.

Stocks Up

The Dow Jones industrial average was up 33 points in early trading Thursday to 17,790. The S&P 500 was up four points to 2,081. The Nasdaq was up one point to 5,014. The LABJ Stock Index was flat at 234.

‘Life or Death’ for Public Unions?

The Supreme Court has decided to hear a case to determine whether public-sector unions can force workers who don’t want to belong to give money to the unions anyway. The case has particular import in California, not only because many Democrats depend on union donations but because some teachers have challenged the fees, the Los Angeles Times reports.

Markets Surge

Stock markets worldwide leaped early Wednesday after Greece’s prime minister indicated his country will finally accept the demands issued by its creditors, CNBC reports.

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