From the confusing world of analysts' coverage of public companies comes this report from AP, where a Citi analyst ups Abbott's rating from Sell to Hold, but cuts his price target for the stock. Here's the story:

NEW YORK (AP) — A Citi Investment Research analyst upgraded shares of Abbott Laboratories Monday, and took a positive view of the drug and medical device maker's emerging markets strategy.

Matthew Dodds raised his rating on Abbott stock to "Hold" from "Sell."

Abbott said this month that it will license at least 24 products for sale in emerging markets and agreed Friday to buy the domestic unit of India's Piramal Healthcare for $3.72 billion.

Dodds said it makes sense for drug makers to build up their business in emerging markets as growth in developed markets slow down, although the new strategy is riskier.

The Piramal deal will make Abbott the number one seller of branded generic drugs in India.

Dodds also wrote that shares of the North Chicago company are no longer trading at a premium to shares of its rivals. He trimmed his price target to $47 per share from $50. Abbott shares traded around $47.50 Monday.

– Chris Freeman

No need to mince words with Melissa Bean.

The House member from Barrington released a statement following the Senate's passage of the financial regulation reform bill Thursday. It reads as follows:

"Finally."

Yep, that was it.

Bean was a major part of the House Financial Services Committee that wrote the House version of the financial regulatory reform bill. The House passed its version in December.

Other members of the House Financial Services Committee including area U.S. Reps. Don Manzullo and Bill Foster. Both Illinois senators, Dick Durbin and Roland Burris, voted in favor of the Senate bill Thursday.

– Chris Freeman

Among those heartily in favor of the state's appliance rebate program – which I wrote about Sunday that begins on Friday – is state Rep. Jack Franks.

I tried to get with Franks for the story, but our paths did not connect. However, his office sent out a release today that I thought was worthy of inclusion here. In it, Franks ties the rebate program to the 40th anniversary of Earth Day, which is April 22.

The appliance rebate program is scheduled to run Friday through April 25, offering immediate 15 percent rebates on energy-efficient appliances including clothes washers, dishwashers, refrigerators, freezers and room air conditioners.

“Yearly energy savings from replacing old appliances with Energy Star appliances can be considerable. In these difficult economic times, every dollar counts. Citizens are constantly having to re-evaluate their spending, and this is an easy way to save on necessary expenses in the long-term.”
 
Again, for anyone looking for information on the program, participating retailers, or qualifying appliances, visit www.illinoisenergy.org/appliances.

– Chris Freeman

So this is it? THIS is what all of the census hype was about?

The 2010 census is costing taxpayers an estimated $11.3 billion – that’s with a “B” folks, as in boondoggle.. According to the United States Government Accountability Office that makes it the most expensive census in the nation’s history – even after adjusting for inflation.

“The Bureau estimates that the number of housing units for the 2010 Census will increase by 10 percent over 2000 Census levels,” said GAO Acting Director of Strategic Issues Brenda Farrell, when testifying before the U.S. Senate’s Subcommittee on Federal Financial Management, Government Information, and International Security back in June. “At the same time, as shown in figure 1, the average cost per housing unit for 2010 is expected to increase by approximately 29 percent from 2000 levels (from $56 per housing unit to $72 per housing unit in 2000 inflation-adjusted dollars).”

All of that begs the question: What are we getting for our money? U.S. Census Bureau’s “Snapshot of America” Super Bowl ad cost $2.5 million. Giant census forms, at a cost of about $341,000 to produce and display, were deployed this week to Daley Plaza in Chicago. Other cities on the list include New York City, Washington, D.C., Atlanta, Boston, Charlotte, Dallas-Fort Worth, Detroit, Los Angeles, Phoenix, St. Louis and San Francisco; all in the name of the 2010 census mantra: “Ten question in 10 minutes.”

But I have to wonder why the nation is spending so much money for so little information. Would have questions on such pertinent topics as annual income, employment status, savings level, vehicle ownership and health care have measurably impacted participation? Home ownership is a nice gauge of economic activity, but wouldn’t the length of time I’ve lived there and, the time and distance I commute to work also provide valuable insight into the nation’s highway system and the viability of mass transit?

In 2000, the nation reversed a three-decade decline in mail rates, achieving a participation rate of 72 percent. The Census Bureau hopes to improve on that, because sending census takers to delinquent homes costs money. If everyone across the nation mailed back their form, taxpayers could reduce the cost of taking the census by about $1.5 billion, the Census Bureau said.

“The Census’ sheer size and complexity make it a risky and fragile enterprise,” Farrell said in her testimony before Congress. “The 2000 Census, for example, involved the hiring of more than 500,000 enumerators on a temporary basis, opening 511 local census offices nationwide and 24,000 questionnaire assistance centers, processing 1.5 billion sheets of paper, and in 10 weeks following up with 42 million nonrespondent households. The size of the census means that small problems can magnify quickly, and big problems could be overwhelming. For example, 60 seconds might seem like an inconsequential amount of time, but in 2000, if enumerators had spent just 1 minute more at each household during nonresponse follow-up, it could have added almost $10 million to the cost of the census, assuming a pay rate of around $13 per hour (wages ranged from $8.25 to $18.50 per hour for enumerators in 2000, depending on location).”

According to the Census Bureau’s Web site, Census takers in Elgin will earn $15.25 an hour. Vernon Hills is paying $17.50 an hour and Chicago workers will earn $18.25 an hour. For God's sake, please fill out your form and mail it back quickly.

We’ve already spent enough money.

– Kurt Begalka

A week after releasing its St. Patrick's Day spending outlook – the first in more than a year that showed expected year-over-year gains – the National Retail Federation released its forecast for Easter spending.

For the second consecutive holiday, the survey showed spending expected to rise from a year ago. Here's the release:

According to NRF’s 2010 Easter Consumer Intentions and Actions Survey, conducted by BIGresearch, holiday celebrants will spend slightly more this year with the average person expected to shell out $118.60, up from $116.59 last year. Total spending is expected to reach $13.03 billion.

While spending on most items will remain the same as last year, children can expect more jelly beans, flavored marshmallows and even gifts in their Easter baskets this year. The average person will spend $17.29 on candy, compared with $16.55 last year, and $18.16 on gifts, up from $17.30 last Easter. Other holiday purchases include clothing ($19.03), food ($37.45), flowers ($7.84), decorations ($6.34) and greeting cards ($6.30). 

While 25-34 year-olds will be spending the most this Easter at $136.79, more 18-24 year olds will buy gifts. Nearly three-quarters (71.3%) of young adults ages 18-24 will buy gifts this year, compared with 65.8 percent of 25-34 year olds and 65.5 percent of 35-44 year olds. Young adults will spend an average of $125.85 on Easter merchandise, followed by 35-44 year olds ($124.66), 45-54 year olds ($117.54), 55-64 year olds ($106.82) and 65+ ($98.72).

– Chris Freeman