Industry News & Links of the Day

WSJ – Key Tax Breaks at Risk as Panel Looks at Cuts – Discusses the potential for Key Tax Breaks to be cut in pursuit of balancing the budget by 2015.  On the table is the Mortgage Interest Deduction, Child Tax Credits, and the ability for employees to pay their portion of their health-insurance tab with pretax dollars.  In particular, the Mortgage Interest Deduction is hugely popular with the public and removing it could have devastating effects on the already ailing housing market.

WCSH 6 – Maine ranks at bottom of Forbes business rankingsForbes says that Maine ranks 50th in a list of best states for businesses.  The rankings are based on five factors — business costs, labor supply, regulatory environment, economic climate, growth prospects and quality of life. 

Yahoo Finance – Stocks fall amid questions about Fed plan – Stocks retreat amid reports the Fed’s bond-buying program might be smaller than anticipated.  Many traders had been predicting the Fed would buy between $500 billion and $1 trillion in Treasurys to drive interest rates lower and boost lending and spending. That expectation had been priced into the market in recent weeks, so anything that might fall short of that could hurt stocks.

USA Today – Economic reports see little movement – Two reports Tuesday spotlighted an economy that continues to move sideways. Consumer confidence rose slightly in October, but the specter of falling home prices could dampen the mood of shoppers in coming months.

Press Hearld – In Maine, the Feeling is Frugal as Holiday Buying Nears – While most retailers expect 2010 holiday sales to top last year’s dismal numbers, the majority of Maine residents, like the majority of Americans, say they will not increase their holiday spending this season, a new poll suggests.

Journal Tribune – For Biddeford, an enticing and flawed racino proposal – A proposal to bring slot machine gambling and harness racing to Biddeford has divided the city.

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