Tuesday morning headlines

Big Music Center gift: The widow of Donald Kaufman (as in homebuilder Kaufman and Broad) is donating $20 million for dance-related programs. From the LAT:

"We have a terrible economy, and what happens first is that all the arts disappear," [Glorya] Kaufman told The Times. "And to me, dance is one of the most important that there is." Dance at the Music Center began in the 2003-04 season, when it presented the first self-produced dance series at the center in 39 years. Although the Joffrey Ballet had appeared as a resident company there from 1983 to 1991, that first season, which included San Francisco Ballet, Dance Theatre of Harlem and the Chinese company Shen Wei Dance Arts, sharply raised the profile of dance in the city.

Fraud cases decline: California has dropped from fourth place to eighth in the rate of mortgage fraud, but that could be because the swindlers have moved to other states (Nevada dropped out of the top 10). From the LAT:

About 61% of all the reported fraud was related to lies on mortgage applications. About 28% of the frauds were related to tax returns and financial statements. The remaining fraud types were related to appraisals, verifications of deposit, verifications of employment, closing costs and credit reports. In each case, a real estate professional was involved in the fraud: brokers, bankers, appraisers or others.

Jobless benefits aren't extended: The bill, which fell short by one vote in the state Assembly, would have pulled as much as $3 billion from the federal government. Democrats accused Republicans of hampering recovery efforts by refusing to support the legislation. California has to make certain changes to its unemployment program in order to qualify for the money. (AP)

Layoffs at WGA: An operating deficit of more than $2 million has prompted Writers Guild officials to cut at least 10 percent of its workforce, or roughly 20 jobs. The deficit has been blamed on investment losses in the guild's portfolio. (Variety)

Wal-Mart adds private labels: The retail giant plans to start selling more than 80 new products under its Great Value brand to attract U.S. shoppers seeking lower prices. As the recession deepens, sales of private label products are increasing. From Bloomberg:

The Great Value line has grown into the biggest U.S. food brand by sales since the Bentonville, Arkansas-based company introduced it in 1993. The new packaging will make it easier to spot Great Value items in stores, Wal-Mart said. The brand covers more than 100 categories. According to an estimate by Robert Drbul, a Barclays Capital analyst in New York, Great Value generates about 10 percent of the chain’s food sales with the remainder coming from manufacturers such as Kraft Foods Inc., Kellogg Co. and Campbell Soup Co.

Gas takes small dip: The average gallon of regular in the L.A. area is $2.172, down from $2.198 last week. (EIA)

Lacter on radio: This morning's business chat with KPCC's Steve Julian covers the travails of Bev Hills billionaire Kirk Kerkorian and the prospect of Santa Anita being sold. Also on kpcc.org and on podcast.