The refinancing boom is an extreme positive for stocks, particularly dividend-paying stocks. And with investors focused on the possibility of a stock market correction, it’s a major positive that’s by no means reflected in today’s share prices. That’s very bullish for the rest of 2010 and beyond, even if the S&P 500 has another relapse.

Everyone wants to buy into a big yield. The trouble is most people aren’t willing to put in the time to tell the good from the bad and ugly. As a result, they’re either overly skeptical--thereby missing out on what would otherwise be an ideal investment--or gullible, in which case they’re liable to make even worse moves.

What if a third of the power supply for an entire US state were suddenly shut off? Would its residents find themselves in the dark, as they do routinely in developing nations?

Blame it on Sarbanes-Oxley and subsequent populist-inspired attempts by Washington to protect investors from Wall Street fraud: Year-end filing has become so regulation-driven that fourth-quarter earnings reporting season lasts literally the entire first quarter.

FirstEnergy Corp (NYSE: FE) and Allegheny Energy (NYSE: AYE) have announced the power industry’s biggest merger in years. The immediate winners of the $8.5 billion deal are shareholders of Allegheny, who received a premium of 32 percent to the company’s pre-announcement share price.

The Obama budget would not only extend preferential tax rates for dividends and capital gains. It would basically make them permanent, firmly establishing the principle that savings and investment be rewarded, not just for buying and selling stocks, but for holding on and collection income.

The economy is still crawling back from the near-meltdown of late 2008. But there’s a long way to go, and there are plenty of challenges ahead that may prolong a full recovery.

The election of Republican Scott Brown to the US Senate has reshuffled America’s political deck. And there are profound implications for income investors.

Florida regulators to Florida utilities: Say good-bye to reliable returns that ensure a low cost of capital. Florida utilities to Florida regulators: Fine, but don’t expect any new investment.

Utilities sailed through the recession in part because they provide essential services, demand for which is rarely affected much by recessions. Equally important, however, is the massive reduction of debt and operating risk since the fall of Enron in 2001 nearly brought the entire industry to its knees.