Monday morning headlines

Stocks on the plus side: Time to get excited about first-quarter earnings. Dow is up about 40 points.

Economy to gain momentum: That's according to a WSJ survey of economists, who expect that higher oil prices and Japan's earthquake will be transitory problems. On average, they're looking at a lower-than-expected first quarter growth, followed by a pickup.

Obama to present deficit plan: Finally, he gets off the sidelines with a proposal to include tax increases with budget cuts. From the NYT:

Until now, Mr. Obama has avoided prescribing specific changes to entitlement programs like Medicare, beyond those contained in his health care overhaul. Indeed, few of the recommendations made by his own bipartisan fiscal commission were included in the budget he presented to Congress in February. What is more, while Mr. Obama proposed a five-year freeze on the growth of domestic spending, he recommended increases in education, research, infrastructure and clean-energy programs -- emphasizing that although deficit reduction is important, so are investments to create jobs and skilled workers.

Will county get involved in downtown stadium plan?: Turns out the Board of Supervisors could have a say in determining whether the proposed football venue ever gets built. From the LAT:

The firm behind the stadium proposal, Anschutz Entertainment Group, has a track record and political allies at City Hall, where the plan generally has been well-received. But the company hasn't sought county assistance or involvement in the project. "We're not asking anything out of the county because we don't want to deal with them," AEG President Tim Leiweke told The Times earlier this year during a discussion of the stadium and $350 million in proposed city borrowing for related Convention Center work.

State jobless claims fall: February filings totaled 559,000, down from 651,000 a year earlier, but still nearly three times higher than in February 2007. Benefits payouts also are declining. (OC Register)

Mayor to ignore budget troubles in speech: Instead, Villaraigosa's State of the City address on Wednesday will focus on education. (Daily News)

Dov Charney scrambles for cash: The CEO of L.A.-based American Apparel needs $5 million this week to maintain liquidity. NY Post cites a source as saying that lenders Lion Capital and Bank of America are "fed up" with Charney's "control-freak" management style.

British-based Lion -- whose partners Lyndon Lea and Neil Richardson stepped down from American Apparel's board last month -- will lend the retailer additional funds only on the condition that Charney surrenders control, according to the source. If American Apparel's cash crunch worsens, executives are mulling cost-saving measures including a two- to four-week shutdown of the company's Los Angeles factory, as well as a massive, nationwide clearance sale at its stores to liquidate excess inventory.

City National expands in Vegas: The L.A. bank is acquiring the assets and deposits of Nevada Commerce Bank, which was seized by federal regulators. (LABJ)