Wednesday morning headlines

Stocks sluggish: Only so-so job news has the market off to a slow start, with the Dow barely in plus territory.

Governor pushing jobs: He'll be proposing a jobs creation package during tonight's this morning's State of the State speech - as well as renewed efforts to reform California's budget process and tax structure during. From the SF Chronicle:

David Gamage, an assistant professor of law at UC Berkeley, said job creation is a euphemism for tax cuts for certain industries. He cast doubt on the effectiveness of that strategy. He said it is "difficult to find support for the notion" that targeted tax cuts spur job growth. He said an overall tax cut would do so, but that would deepen California's deficit.

Still shedding jobs: Private empoyers cut 84,000 of them in December, fewer than the 145,000 lost in November but more than had been forecast. The government's employment report for December is due out Friday. (Reuters)

Here's real job creation: Census Bureau is hiring 1,000 people in OC (1 million nationwide) for the once-in-a-decade count. Pay starts at $17 an hour. (OC Register)

Pension cutbacks?: L.A. budget officials want to dramatically scale back the benefits given to newly hired city employees (a ballot measure would be required to make it happen). City Administrative Officer Miguel Santana saysthe current retirement system is "unsustainable." From the LAT:

The plan sets the stage for a showdown between the city's elected officials and the labor unions that, in many cases, helped put them in office. Union leaders have already begun denouncing the proposal, saying the City Council cannot make the changes without returning to the negotiating table. But three council members said Tuesday they have no choice but to consider the plan, given the enormity of the city's budget shortfall, expected to reach $1 billion by 2013.

Sluggish recovery: Socal will lead the state out of the recession, according to a University of the Pacific forecast, but don't expect much improvement on the jobs front through 2010. (press release)

Court closures hurt: There's an economic impact of shuttered courtrooms and increasing legal delays - $30 billion over the next four years in L.A. County alone, if you believe a new study. (LAT)

More holiday results: December store sales were up 2.5 percent, says the International Council of Shopping Centers. An analyst for MasterCard Advisors puts the number at 1.7 percent for both November and December. More numbers to come. (NYT)

Disney on Broadway: The Mouse House is finalizing plans to open one of its interactive stores on Times Square. From the NY Observer:

Theaters will allow children to watch film clips of their own selection, participate in karaoke contests or chat live with Disney Channel stars via satellite. Computer chips embedded in packaging will activate hidden features. Walk by a "magic mirror" while holding a Princess tiara, for instance, and Cinderella might appear and say something to you.

New Web sites: Los Angeles Times Media Group is forming a joint venture with U.S. Local News Network that's aimed at OC readers and advertisers. The news sites, expected to launch next month, will share content and ad sales. (LAT)