Good morning! Welcome to KPCC's business blog, The Breakdown. Every weekday, KPCC compiles a list of interesting business stories in the region.
- Sony Electronics plans to cut 400 jobs in San Diego or roughly 20 percent of its workforce there, according to U-T San Diego. The layoffs are part of the company's restructuring efforts. Last year, my colleague Ben Bergman reported that Sony Corp. also planned to cut jobs from its entertainment division.
- California will grow its employment base by 2.1 percent in 2014, according to Forecast LA. Bakersfield was the California city that added the most jobs from fourth quarter 2007 to fourth quarter 2013, KPCC reports.
- The proposed 2015 military budget has caused some concern among local government officials regarding the March Air Reserve Base in Riverside County, according to the Press-Enterprise. The proposed budget calls for base realignment and closure, the Press-Enteprise reported. Air Talk also had a segment on the impact the cuts would have on the U.S. Army.
- KPCC talked to entertainment industry workers who say they've been hurt by the number film and TV projects leaving California for other states that offer better tax incentives. State legislators have introduced a bill to expand the state's film and TV tax credit program, but not everyone is a fan. Christopher Thornberg, a founding partner in Beacon Economics said the entertainment industry is alive in L.A. "In general, the government should stop trying to industry pick," Thornberg told KPCC. "When the industry puts its hand out and says 'Give me money or else,' I say, we call that bluff."
- Meanwhile, L.A.'s Ad Hoc Committee on Film and Television Production Jobs held its first hearing, with more than 75 film and TV workers attending to discuss runaway production, according to the Los Angeles Daily News. Disney said it will film a series for Netflix in New York. The Wall Street Journal reports that Disney will receive about $4 million worth of incentives. Disney had considered filming in other places like Toronto, the WSJ reported.
- Say goodbye to past reader comments on LATimes.com. LA Observed reports that the L.A. Times will be changing to a new comment system tomorrow and old comments will be deleted.
- L.A. has a lot of interesting cafes--but here's one you probably haven't heard of -- Catfe. That's because it doesn't exist yet. The LAist reports an entrepreneur is raising money to launch a cat cafe in L.A., a gathering place of sorts where people can chill and pet some cats. It already exists in places like Japan, where people go to drink coffee and pet cats to relax.
Got business news? Tweet me @thewendylee.