• There's been enough rain from this storm that the Sepulveda Basin in the Valley was closed as a precaution. DN
• Metro will unveil today the new TAP rechargeable transit card. Wires
• Dean Singleton says there will be no bankruptcy for MediaNews though its credit rating has dropped far below investment grade, "indicating a high risk of actual default." NYT
• Signature requirements to run for office in Los Angeles are higher than they are for state offices. Rick Orlov/Tipoff
• Here are the 55 Democratic electors who will vote officially today to elect Barack Obama. Capitol Alert
• His Times colleagues soldier on despite the bankruptcy because that's what they do, says media reporter Jim Rainey. LAT
• Arts writer Barbara Isenberg wishes that Marcia Weisman was still around to revive MOCA's fortunes. LAT Op-ed
• Miles Corwin reviews "The Black Hand: The Bloody Rise and Redemption of ‘Boxer’ Enriquez, a Mexican Mob Killer" by Fox 11 crime reporter Chris Blatchford, who is called "well-suited to tell this story." LAT
• I'm told that a light fixture fell at Disney Hall during Saturday night's Los Angeles Philharmonic performance and nearly conked a cellist.
Downtown's Jewelery District reels over a fraud case involving one perpetrator, 19 victims and millions in missing gems. Downtown News
• Willie Brown says the federal case against Illinois Gov. Rod Blagojevich is weak: "the feds had better come up with something more solid than just a couple of guys sitting around and talking. Otherwise, this case could go up in smoke." SF Chronicle
• UCLA followed proper procedures in handling the liver transplants of four Japanese mobsters. LAT
• Former L.A. King Sean Avery was dropped by the Dallas Stars 23 games into a four-year contract after the other players said they didn't want to play with him. AP

Plus: Mark Lacter's LA Biz Observed headlines, the Echo Park Christmas parade at Chicken Corner, and a quick look at the past week's worth of LA Observed posts.