According to Lakers fans, there's no recession

The Los Angeles Times reports that after the Lakers' victory Sunday night, the three Team LA merchandise stores pulled in 14 times what they did when the Lakers won a championship in 2002.

And the retailer's Web site had its best day ever, passing the previous high by 650 percent.

The article, written by Reynolds Center and Los Angeles Times intern W.J. Hennigan, takes a look at this spike in sales after the Lakers clinched another championship title.

View the story here.

Road to Ruin

MSNBC has created an interactive timeline charting the major business milestones of America's auto industry over since 1978. It also charts the stocks of General Motors Corp., Ford Motor Company and Chrysler as well as gas prices per gallon, new car dealerships, dealership employees and new vehicles sold.
There can never be too much context with complex issues like those plaging the automotive industry right now, and MSNBC helps give a fresh look at the big picture with its interactive media.
View the timeline here.

Google's Cheng to join Bloomberg

The Wall Street Journal reports that a director for product management at Google is leaving the company to join Bloomberg LP.
Ien Cheng will become the Bloomberg multimedia group's chief of staff, a role that will have him overseeing television, radio, Web and mobile properties.
From the story:

Mr. Cheng’s hire signals a continuation of a broader effort by Bloomberg to reduce its reliance on sales of the financial-data “terminals” that account for most of its revenue. The evaporation of thousands of financial-sector jobs in the past year has slowed terminal sales, prompting the company founded by New York City Mayor Michael Bloomberg to focus on making money on the large newsgathering operation that supplies the terminals with news, say people familiar with the situation. Last fall the company hired former Sony BMG Chairman and NBC News President Andrew Lack to run its multimedia business.

St. Louis Post-Dispatch owner reports smaller loss

Lee Enterprises, which owns the St. Louis Post-Dispatch among other papers, reported results for its second fiscal quarter Thursday.
The company posted a loss, but still fared better than it did in the previous quarter, according to the Associated Press via Yahoo! Finance.

The Davenport-based company lost $51.8 million, or $1.16 per share, in the quarter that ended March 29, compared with a loss of $713 million, or $15.90 per share. Excluding one-time costs, its loss was 7 cents per share.

Advertising sales were down 24 percent, with individual categories falling anywhere from 19 percent (retail ads) to 33 percent (classified).
In line with a common trend this quarter, the company showed losses in online advertising of 27 percent. Several other companies have shown similar losses online, where they had been experiencing solid growth for several years.
To read more, click here.