The Breakdown

Explaining Southern California's economy

In SoCal business news: Allergan gets $40 billion bid, Netflix exec says issues surrounding House of Cards tax credits are "overcome-able"

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Good morning! Welcome to KPCC's business blog, The Breakdown. Every weekday morning, we compile a list of interesting business stories in the region.

  • A competitor wants to buy Irvine-based botox maker Allergan in a deal worth $40 billion (Orange County Register). Reporters Bernard Wolfson and Marni Usheroff say the bid, from Valeant Pharmaceuticals and activist shareholder William Ackman, was unsolicited.
  • House of Cards didn't get all the tax credits it wanted from the Maryland legislature, but Netflix's chief content officer says "these are overcome-able issues." (Deadline).
  • Could the Supreme Court's ruling on Aereo change cloud computing? (re/code). Mitch Stolz from the Electronic Frontier Foundation tells re/code, “Under the hood, what Aereo is doing is storing TV programs at the request of a user and transmitting to the user’s device. You put those together and that’s a lot like what a lot of cloud services do, too.” Aereo isn't available on the West Coast (KPCC).
  • Exide lays off more than 120 employees at its troubled Vernon plant (KPCC). Correspondent Molly Peterson says the layoffs "don’t necessarily mean the Vernon facility is closing for good."
  • Long Beach Airport's executive director Mario Rodriguez will leave his position to work for the Indianapolis Airport Authority (Press-Telegram).
  • L.A. officials continue to push to bring rail to LAX (New York Times).
  • The number of San Fernando Valley homes for sale was up 50 percent for the month of March (Los Angeles Daily News).
  • Maker Studios partners with Nylon to create its first-scripted drama series (Deadline). Maker will be bought by Disney later this year (KPCC). 
  • Chaminade College Preparatory is bringing their robot, Legacy, to the FIRST Robotics World Championship (Daily News). Reporter Susan Abram says the robot can throw a yoga ball 26 feet.

Got business news? Tweet me @thewendylee.

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