Jingle bells--"A weak economy and widespread accounting irregularities conspired to fuel what by one measure has been the biggest year ever for corporate bankruptcies, with the value of 2002 filings soaring to a record $368 billion as of December 25 Bankruptcy Data.Com."--News item.

California’s?--"California’s economists frequently are wrong--State’s unexpected revenue swings come in part from failure to forecast stock market."--Los Angeles Times headline.

Cautiously pessimistic--Dan Meckstroth, chief economist of the Manufacturer’s Alliance, said that because of the tough economic conditions, companies remain focused on increasing productivity without increasing jobs. He speculated: "By late 2003 and 2004, we hope you’ll start to see some small increases in manufacturing jobs."

...meanwhile--"British workers were yesterday given a warning that their pensions face the greatest threat in more than 30 years.

"The United Kingdom’s biggest pension adviser said that tumbling stock markets and economic uncertainty could plunge hundreds of company pension schemes into crisis."--London dispatch.

Slicing the bread--"Illinois, Carbondale--"The days are gone when Margie Parker could send people home with at least two weeks of staples from her food pantry. Pantries for the poor in Illinois are struggling. Parker’s pantry can provide enough to feed a family for a week. Donations are down from the federal government and private industry alike."--USA Today.

Not squeezed enough?--"About 30 percent of Iowa farmers have signed up for commodity program payments, officials say. Many farmers are hesitating because the program is too complicated, says farmer Matt Peters. Some farmers may have to run computer programs to determine potential crop yields and prices for the program that runs through 2007."--News item.

Hold your hat--"Industrial output stumbled in December and consumers were glum in early January, economic reports showed."--News item.

GE ‘stumbled’?--"General Electric Co. said that fourth-quarter profits fell 21 percent, its biggest quarterly decline in nine years, and that first-quarter earnings would drop as much as 10 percent."--News brief.

McD sets war weapons--Moving to counter a sales slump and losing ground in a price war with Burger King, McDonald’s is replacing Teenie Beanie Babies with Betty Spaghetty dolls. January 24th, a four-week Happy Meal assault was slated. Also anticipated was the anticipated loss in the fourth quarter--its first ever quarterly loss.

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