Tuesday morning headlines

Stocks starting to slide: A bunch of crosscurrents to start the new month. Dow is down about 50 points.

Bernanke concerned about oil: The Fed chairman told Congress that a prolonged rise in prices would pose a danger to the economy. But he only expects a temporary bump in the road. (AP)

California third-worst in job creation: Only Nevada and New Jersey are more difficult places to find work, according to the Gallup Job Creation Index. North Dakota topped the job creation survey. (OC Register)

Local job market poised to recover: Expect a pickup in the next three to six months, according to Cal State Fullerton's quarterly economic indicator. (OC Register)

More homes being bought with all cash: They made up a record 31 percent of the CA residential properties bought in January, according to Dataquick. From the LAT:

Cash activity has been brisk for months in foreclosure-ridden areas such as Riverside and San Bernardino. But now, the cash buyer has become a major player in Southern California's most expensive communities, where cash deals account for as much as two-thirds of home sales. The trend is being driven by several factors, analysts say, including the difficulty of getting a "jumbo" loan from lenders still stinging from the mortgage meltdown. It also reflects speculation by wealthy investors who believe home prices are at or near a bottom.

Live Nation had a lousy year: The Bev Hills-based concert company said it sold 10 percent fewer tickets in 2010 than 2009. Not helping was that about half Live Nation's artists stayed off the road last year. (WSJ)

Blue Shield says rates are reasonable: Not exactly a disinterested review - a consultant hired by the health insurer determined that pending rate hikes averaging 6.5 percent are not excessive. From the LAT:

On Monday, state Insurance Commissioner Dave Jones voiced skepticism about Blue Shield's new report. He said the San Francisco insurer had yet to fully answer questions he had raised about the filing. Nor does the consultant's study resolve the matter, Jones said. "Our preliminary review of the report on Blue Shield's most recent rate filing indicates the insurer has failed to provide all the information we requested and this has led to serious concerns about their filing," Jones said in a statement. "We will continue to review it thoroughly."

Honda, Subaru get top honors: They're the best vehicles overall, according to the annual rankings by Consumer Reports, though Ford posted the largest gain. Mercedes and BMW are near the bottom of the list because of reliability problems. (USA Today)

Dior sacks designer over anti-Semitic remarks: John Galliano told a cafe patron, "I love Hitler," and after the comment wound up on the Internet, he was a goner. (BBC News)

LAX traffic edges higher: More than 4.6 million travelers took flights in and out of the airport in January, a 1.2 percent increase from a year earlier. Domestic flights rose 2 percent, while international traffic fell 1 percent. (Daily Breeze)