Forecasts

Just as the nation's housing market has begun showing signs of stabilizing, another wave of foreclosures is poised to strike, possibly as early as this summer, inflicting new punishment on families, communities and the still-troubled national economy. Amid rising unemployment and falling home prices, mortgage defaults have surged to record levels this year.

Microsoft Corp. Chairman Bill Gates on Sunday used his final keynote address at the tech industry's top trade show to tout some of the same futuristic technologies he ballyhooed at his first more than a decade ago.

NEW YORK -- There may be no better predictor that NBC News is about to declare an election's winner than the face of political director Chuck Todd. Twice in two weeks, Todd was brought onto MSNBC to explain why NBC News hadn't declared a winner in a presidential primary when other news outlets had -- only to be interrupted by the network making its projection. "I just think it's amusing," said Todd, who appeared sheepish when it happened with John McCain's win in Florida.

Despite a sinking real estate market and job losses at two major employers, Ventura County could still dodge a much feared recession if interest rates continue to fall and Congress passes an emergency stimulus package, a local economist said Thursday. "Recession is likely to be avoided in Southern California, but we'll be close," said Mark Schniepp, director of the California Economic Forecast, which released its county projections for 2008. "It's a slowdown, not a recession."

It starts today with Valentine's Day and runs through Presidents Day, but what Hollywood executives hope to celebrate on this long holiday weekend is something closer to their hearts than Cupid or Lincoln: the movie franchise. Twentieth Century Fox's sci-fi thriller "Jumper" and Paramount Pictures' family fantasy "The Spiderwick Chronicles" could launch franchises if they sell enough tickets. The movie they're battling for the No. 1 spot at the box office, Walt Disney Co.'

Laura Yamanaka isn't stressing over tackling her company's taxes. With deadlines to file returns looming, she said she didn't have much paperwork left to do for her accountant. As president of TeamCFO Inc. in downtown Los Angeles, Yamanaka recognizes that her company of financial and accounting executives for hire is probably ahead of the game compared with the average small business. But her secret is within reach: Tax time is not a once-a-year chore.

Shares of Big 5 Sporting Goods Corp., the third-largest U.S. athletic-gear retailer, fell the most since 2002 on Friday after fourth-quarter profit dropped and its profit forecast failed to meet analysts' estimates. The El Segundo-based company's stock dropped $2.57, or 22%, to $9.28, the highest percentage decline in one day since June 2002. The shares are down 36% year to date. Net income fell to $6.18 million, or 28 cents a share, from $9.

Corn is a key element of the U.S. food supply. It is what dairy cows eat to make milk and hens consume to lay eggs. It fattens cattle, hogs and chickens before slaughter. It makes soda sweet. As the building block of ethanol, it is now also a major component of auto fuel. And that may signal trouble ahead.

Even if nobody goes to see it at all, a movie is a movie no matter how small. Of course, that won't be an issue for 20th Century Fox's "Horton Hears a Who!" the latest big-budget comedy based on the classic children's stories of Dr. Seuss. The G-rated animated film, whose voice cast includes Jim Carrey, Steve Carell, Carol Burnett and Seth Rogen, opens today with an elephant-size weekend in store.

News Corp.'s Fox Interactive Media said it would fall short of Chairman Rupert Murdoch's target for revenue of $1 billion this fiscal year and announced a reorganization of the unit designed to drive growth. "It wasn't one smoking gun. It was a series of things that were a little late to come to market," said Michael Barrett, who will step down as chief revenue officer at Fox Interactive after a two-month transition period.