Organizers of the conventions and conferences that mark the broadcast calendar are worried that broadcasters' economic woes will lead to lower attendance and fewer exhibitors. Already, one popular gathering—TVB's spring marketing conference—has been put on hiatus.

Borrell Associates raised eyebrows recently with its bleak prediction that online ad spending will top out next year. But following a brief radio silence, industry thought leaders are responding — and in some cases, challenging the research firm's prognosis.

Now that the predicted recession is a reality, it seems clear that an array of traditional media, magazines, newspapers and radio are taking hits in ad revenue and profitability. Based on past recessions, it seems likely that broadcast will also suffer major losses. But cable TV could benefit or bust during the downturn, depending on cable companies' strategy for large-scale interactive advertising.

Executives running businesses from hair salons to giant utilities are hunkering down by trimming capital spending budgets, delaying plant construction, laying off workers and skimping on pay increases. Business leaders put large fiscal stimulus atop their to-do list for Barak Obama.

Sen. Ted Stevens' election defeat marks the end of an era in which he held a commanding place in Alaska politics while wielding power on some of the most influential committees in Congress. It also moves Senate Democrats within two seats of a filibuster-proof 60-vote majority and gives President-elect Barack Obama a stronger hand when he assumes office on Jan. 20.

There has been so much chatter about politics and the economic meltdown on TV this fall that it's obscured another reality: Some of the networks' biggest unscripted series have been sinking in the ratings.