Let's just say that 2010 won't have to do much to impress us.

We've just left a dismal year of economic turmoil, a recession that just wouldn't quit and a stock market that no one trusted.

Will 2010 be better? It would have to be.

By Jim Woods, InvestorPlace.com

 

I've read quite a few retrospective articles over the past month or so on the decade that was -- a decade that comes to an end at midnight tonight. One of the more memorable, albeit more pedestrian, pieces was a Time article that proclaimed the 2000s the "decade from hell."

 

One of the major casualties was the U.S. real-estate market, which collapsed like a veritable house of cards in 2008. The fallout caused by the deleveraging of mortgage-related debt sent trillions of dollars of wealth into the financial ether. It also caused a worldwide fiscal panic that prompted governments around the globe to step in and attempt to save the world from financial ruin.

 

But I actually think the biggest casualty of the past decade can be found in the not-so-subtle subtext inherent in the idea that the government needs to step in, bail out and, in effect, rescue us from the ravages of our own avarice.

 

To put this notion in simpler terms, I think the biggest casualty of the decade was capitalism.

AT&T (T) has been "evaluating its relationship" with Tiger Woods, and now we know the outcome. The telecommunications giant says it is no longer sponsoring the golfer.

No word on how much AT&T's contract with Woods was worth. And neither side is saying anything else about the matter.

So the AT&T logo will likely disappear from Woods' golf bag. And, presumably, Woods will no longer host the annual AT&T National tournament.

The announcement isn't a surprise, considering that we've already seen Accenture, Gillette and Tag Heuer distance themselves from the golfer. And with Woods on an "indefinite break" from the game, AT&T isn't getting much return on its investment.

This sounds bad: General Motors is recalling 22,000 Corvettes because, well, the roof might fly off.

This sounds worse: This is a recall of a recall. A fix for a 2006 recall that went bad.

GM recalled about 31,000 Corvettes in 2006 for the same problem, The New York Times reports. The company "fixed" the issue by using a foam adhesive -- and workers later applied the same foam adhesive on the production line in Bowling Green, Ky.

The struggle to avoid bankruptcy continues for YRC Worldwide (YRCW). The consolidated freight company announced today that it had once again extended the deadline for approval of a debt-for-equity swap.

 

Without approval, which would give debt-holders up to 95% of the equity in the company, the unionized trucking company will likely be headed toward bankruptcy.

 

The company has extended the deadline for the swap multiple times but is still short of the already-reduced approval rate necessary to free operating capital from banks.

 

Most interesting in the latest development is Teamster complaints against banks and hedge funds that it says are deliberately blocking the swap in order to profit from a credit default swap trade. Such a trade would be profitable if the company fails.

In the wake of a failed scheme to blow up a Detroit-bound plane carrying 278 passengers over the Christmas holiday, Americans have been clamoring for answers. Politicians are wondering how this happened, security experts are trying to find a way to make the system work better and the public is wondering if it's really safe to take to the air.

 

There are a lot of questions being asked right now, but one thing is for certain -- this close call with disaster is certain to prompt action, and America is going to make airport security a new priority in the months ahead.

 

As the nation renews its commitment to safer air travel, the companies that have a track record of successful partnerships with the Transportation Security Administration (TSA) and the nation's airports are sure to see a boost in share prices over the coming weeks. Here are my three favorite picks in the airport security business.