The Breakdown

Explaining Southern California's economy

In SoCal business news: Clippers loses advertisers, Toyota to move Torrance jobs to Texas

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

  • Clippers loses advertisers due to owner Donald Sterling's alleged racist comments (KPCC). Reporter Josie Huang says the Clippers have lost several sponsors like State Farm, CarMax and Kia.
  • Toyota will move its North American headquarters and thousands of jobs from Torrance to Plano, Texas (KPCC). The majority of employees will be impacted in late 2016 or early 2017. Texas offered $40 million in incentives and Toyota will bring 4,000 jobs (from California, Kentucky and New York) there, which equates to about $10,000 per job (Wall Street Journal).
  • A group of truck drivers that move cargo for the Ports of Long Beach and Los Angeles will strike for two days, starting today (KPCC). 
  • Charter Communications will become second-largest cable operator after its deal with Comcast (Variety). Variety's Editor-in-Chief of television Cynthia Littleton says the deal is worth $20 billion and will cause Comcast to "divest about 3.9 million video subscribers following its merger with Time Warner Cable." Here is Take Two's segment on the topic
  • House of Cards is keeping Season 3 production in Maryland, even though it didn't get all the tax credits it initially wanted (Deadline). Reporter Dominic Patten says House of Cards will receive $11.5 million in incentives. KPCC's Kitty Felde's earlier coverage of the House of Cards tax credit issue can be seen here.
  •  The show Nashville may be filmed in Nashville, Tennessee, but it may move production to Texas or Georgia because it could get better financial incentives (The Tennessean). The potential move comes as states, including California, are looking at ways to increase the amount of incentives offered to TV shows and films.
  • Want to tour the Amazon's distribution center in San Bernardino? The tours are so popular, you'll have to wait until October (Inland Valley Daily Bulletin). KPCC's Maya Sugarman visited the center and you can check out her photos here

Got business news? Tweet me @thewendylee.

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