Stocks are wobbling: Little guidance so far this morning; more rumbles that a correction is overdue. Dow is up about 10 points.
Jobless claims move higher: The highly volatile indicator stood at 410,000 filings for the week, larger than expected but well below the peak of 651,000 in March 2009. (AP)
Inflation moving on up: But the government numbers remain fairly tame - the Consumer Price Index in the L.A. area was at 0.9 percent in January and 1.8 percent over the past 12 months. Big jump in food prices. (OC Register)
Feds going after employers: The crackdown continues on businesses suspected of hiring illegal immigrants, with as many as 1,000 companies being asked to turn over their records. From the WSJ:
The big new sweep comes as state and federal lawmakers who champion tough immigration enforcement are pushing to mandate that all U.S. companies use a government-run electronic database to verify whether their new hires are legal workers. Currently, only federal contractors are required by law to use the program, called E-Verify.
Borders closings tough on landlords: Smaller shopping centers that are anchored by the bookseller will have an especially tough time. Their average vacancy rate would more than double to 9.5 percent, according to CoStar. From the WSJ:
The closings come at a time when retail landlords are recovering from a raft of bankruptcies and liquidations. Some 4,660 retail stores closed through the third quarter of 2010, many of them Hollywood Video and Blockbuster Inc. properties, according to the International Council of Shopping Centers. In contrast, a total of 4,810 stores closed in 2009. Vacancy rates at shopping centers are at 10.9%, the highest since 1991, according to commercial real estate researcher Reis Inc.
Stadium developer to offer lease payments?: No specifics on amount, but this would be for city land that's used for the proposed venue. The Villaraigosa-appointed "blue ribbon" commission meets this morning. (LAT)
Senate Republicans not interested in tax vote: They're not budging, even if the Democrats agree to overhaul the state's pension system and enact a spending cap. From the Sacramento Bee:
Sen. Bob Dutton of Rancho Cucamonga, in an interview with The Bee Capitol Bureau, said Democrats should prepare an all-cuts budget to erase the $26.6 billion budget deficit. He said Republicans may or may not provide votes for that approach. "They really don't need us to govern at all," Dutton said of the Democrats who control both legislative houses and can make cuts by majority vote. "They just need us if they want to raise taxes."
Former KB executive gets probation: Gary Ray was a key prosecution witness in the stock-manipulation trial of former CEO Bruce Karatz. Ray was sentenced to four months of home detention and 600 hours of community service. (LAT)
Airlines roll back fare increases: Delta had raised prices for premium tickets by up to $120 per round trip, and the other carriers followed. But US Air dropped the increase, and that basically killed the hike. (AP)
Cruise ship back in action: Carnival's Splendor will return to Long Beach on Saturday, more than three months after an engine fire disabled the vessel. The repaired ship will return to the seas Sunday for its weekly voyages to the Mexican Riviera. (Press-Telegram)