Monday morning headlines

Stocks are skidding: Profit taking from the recent gains and several large stock offerings from banks appear at play. The Dow is down about 100 points.

Postage rates go up: Starting today, the price of a first-class stamp is 44 cents. The Postal Service lost $2.8 billion last year and is already $2.3 billion in the hole just halfway through this year. (AP)

Priciest places to rent: SF tops the list, again, at $1,658. L.A. ranks eighth, at $1,361. Survey is from Center for Housing Policy (via OC Register):

1. San Francisco, CA $1,658 (1)
2. Honolulu $1,631 (11)
3. Santa Cruz $1,590 (6)
4. Suffolk-Nassau, NY $1,581 (7)
5. Orange County $1,546 (2)
6. Ventura $1,502 (3)
7. San Diego $1,418 (15)
8. Los Angeles $1,361 (12)
9. Edison, NJ $1,349 (13)
10. Boston $1,345 (4)
10. Cambridge, MA $1,345 (4)
12. San Jose $1,338 (10)

Flu-related losses: L.A. companies are getting socked for the expense of government-mandated factory closings and a high-rate of absenteeism. That means falling several days behind on deliveries to retailers. From California Apparel News:

Just for Wraps Inc.--a company in Commerce, Calif., that makes juniors, misses and childrenswear apparel under such labels as Wrapper, Love Squared and A-List--now does about 50 percent of its production in Mexico with contract factories. "The bigger impact in the factories was that the schools and nurseries in Mexico have been closed. A lot of mothers have been unable to come to work because they can't find childcare," said Rakesh Lal, the company's executive vice president. "I would say the best-case scenario is that the factories are operating with 35 to 40 percent fewer employees. When you are running an assembly line and the line is broken, there goes your production."

"Idol" raking in the cash: Ratings for the Fox reality series have been down for several years, but its creators are still cleaning up through brand extensions, marketing arrangements and licensing fees. From the NYT:

The deals, which include products as disparate as ice cream and trading cards, as well as the more familiar partnerships with iTunes and AT&T, have driven tremendous growth in the profitability of "American Idol," according to the public financial statements of the parent of 19 Entertainment, the company founded by Simon Fuller, the creator of the show.

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While everyone in television, from Ben Silverman, the co-chairman of NBC, to the youth-centric programmers at MTV, is trying to find ways to increase profits as television audiences decline, "American Idol" is taking its cues not from the traditional broadcasting playbook but from the National Football League. "We have learned the lessons of the sports leagues in that they have all these ancillary revenue streams," said Robert F. X. Sillerman, chief executive of CKX Inc., the parent of 19 Entertainment. "And frankly, we're just beginning."

Competency questioned: The captain of a Continental Connection commuter plane that crashed near Buffalo had flunked numerous flight tests, the WSJ reports. Keep in mind that Continental does not operate these commuter flights. That's done by an outfit called Colgan Air.

The circumstances surrounding Continental Connection Flight 3407 have prompted investigators and regulators to examine Colgan's hiring and training practices. At the NTSB hearing, witnesses are expected to provide new allegations about training shortcomings, as well as the prevalence of chronic pilot fatigue and lapses in cockpit discipline. The NTSB also is expected to be critical of the Federal Aviation Administration's oversight of the airline. The FAA, which has said it is investigating the airline over pilot scheduling, declined to comment on issues likely to be raised in the hearing.

DirecTV may be on block: The CEO of Liberty Media, which controls the El Segundo satellite TV service, tells AP that one of the big phone companies might be interested, though there's no indication of any actual negotiations. A planned spinoff is expected to make such a sale a lot easier.

"SNL" on stress test: Will Forte played Treasury Secretary Timothy Geithner.