* Infrastructure club shrinking (Arleen Jacobius, Pensions & Investments)
Infrastructure club shrinking Those with available capital, experienced operators should prevail
* Missouri Senate OKs new oversight of preneed funerals (David A. Lieb)
JEFFERSON CITY | In response the financial collapse of a St. Louis company, senators signed off Thursday on new oversight for Missouri’s prearranged funeral industry.The legislation would entrust the state Board of Embalmers and Funeral Directors with new powers to inspect the finances of preneed funeral sellers and take action against unsound companies.It also would increase the …
* Make This the Last Bubble (Wall Street Journal)
PRESIDENT BARACK OBAMA IS FOLLOWING the example of the previous administration. He wants a massive stimulus package to address a crisis caused by too much easy money. The burden falls on Obama to change direction. As he said recently, we have kicked this can down the road, and now we are at the end of the road.
* Recession “deeper” than expected (Moneywise)
The Bank of England has warned that the recession is likely to be deeper and longer than previously expected – and hinted that it may have to print more money in order to stimulate economic growth.
* The Bailout: Will the Sequel Pack a Bigger Punch? (Jane Sasseen, BusinessWeek)
The Bailout: Will the Sequel Pack a Bigger Punch? Early reviews panned Treasury’s latest plan. But sentiment could change if the Obama Administration’s public-private plan to buy up bad assets takes off
* Social Security isn’t broken; don’t ‘fix’ it (Los Angeles Times)
They say that even the worst tragedies harbor the seed of something good. So here’s something positive in the stock market’s gruesome behavior over the last year: It may finally have driven a stake through the heart of the campaign to “fix” Social Security.
* Contact Lens Could Bring TV Into Future Eyes (Priya Ganapati, Wired)
Miniaturization of circuits and displays could lead to televisions shrunk into contact lenses and being powered by body heat, according to British futurologist Ian Pearson.
* New president faces an enormous economic challenge (Chris Lester, Kansas City Star)
Dear Obama,I really want you to save the economy because people are losing their jobs.Please don’t make a mistake.CaitlinThat’s what my 8-year-old daughter had to say when she was asked in school last week to write a letter to President-elect Barack Obama.Now, maybe her thoughts were shaped by the fact that she l…
* Need to know: Renault slows down … Fortis ‘has a future’ … G4S sale (Times Online)
Mortgage lending activity : The number of mortgages approved for house purchase nearly halved in 2008, figures from the Council of Mortgage Lenders show. Some 516,000 mortgages were taken out, down from the 1.01 million in 2007 and the lowest figure on record since 1974. The number of loans granted to first-time buyers also hit a record low.
* Dollar gains on market uncertainty (Reuters America)
LONDON (Reuters) — The dollar and yen strengthened broadly on Thursday, boosted by their perceived safety in the eyes of investors concerned about the potency of government policies to combat recession and ailing banks.