A recap of this week’s equity news.

“Defying economy, New Orleans keeps rebuilding,” - Los Angeles Times

The numbers aren’t so dismal here as pre-Katrina residents continue to return, creating a constant demand for construction. Nearly $35 billion in federal aid doesn’t hurt either.

Reporting from New Orleans — This city is a rarity in 2009: a place full of hard hats and big building projects and subcontractors roaring around in pickup trucks. A city where home prices have dipped only slightly, and where the unemployment rate is 5.3% — compared with 8.1% nationwide.

New Orleans, it seems, has largely dodged the Category 5 recession pummeling the rest of the country, thanks to its unique post-Katrina economy. For locals accustomed to bad luck and trouble, the good news can feel a little strange.

  ”Reinventing America’s Cities: The Time Is Now,” - The New York Times

THE country has fallen on hard times, but those of us who love cities know we have been living in the dark ages for a while now. We know that turning things around will take more than just pouring money into shovel-ready projects, regardless of how they might boost the economy. Windmills won’t do it either. We long for a bold urban vision.

With their crowded neighborhoods and web of public services, cities are not only invaluable cultural incubators; they are also vastly more efficient than suburbs. But for years they have been neglected, and in many cases forcibly harmed, by policies that favored sprawl over density and conformity over difference.

“Congress Approves Budget,” - The Washington Post
$3.5 Trillion Spending Plan Paves Way for Obama Goals

Congressional Democrats overwhelmingly embraced President Obama’s ambitious and expensive agenda for the nation yesterday, endorsing a $3.5 trillion spending plan that sets the stage for the president to pursue his most far-reaching priorities.

Voting along party lines, the House and Senate approved budget blueprints that would trim Obama’s spending proposals for the fiscal year that begins in October and curtail his plans to cut taxes. The blueprints, however, would permit work to begin on the central goals of Obama’s presidency: an expansion of health-care coverage for the uninsured, more money for college loans and a cap-and-trade system to reduce gases that contribute to global warming.

A recap of the week’s equity news

 ”Report: Road Home falls short,” - The Times-Picayune

Most storm-beleaguered Louisiana homeowners did not receive enough Road Home money to completely rebuild their homes, and limited recovery dollars will only help replace a portion of the state’s damaged rental units, according to a report to be released today.

The group PolicyLink produced the report, called “A Long Way Home: The State of Housing Recovery in Louisiana 2008,” after analyzing three major federally funded housing-recovery programs: the Road Home and the state’s small and large rental-repair programs. Researchers concluded that “enormous obstacles” blocked the recovery for homeowners, most of whom faced shortfalls to rebuild, and renters, who cannot find moderately priced places to rent.

“More families requesting free or reduced lunch,” - USA TODAY

The troubled economy may be prompting more families to turn to federal school nutrition programs that aid poor children, a survey suggests.

For the first time since 2004, a majority of cafeteria operators say the number of children getting free or reduced-price lunches has risen.

“Can NY infrastructure handle floods, intense heat?,”  - Associated Press

NEW YORK (AP) — Flooded subways. Bridges deteriorating in the hot sun. Rising seas nipping at the edges of Manhattan. Those scenarios are up for review by a panel of scientists, government officials and private sector representatives studying how the city’s infrastructure will hold up to climate change.

The Climate Change Adaptation Task Force met Tuesday for the first time as part of Mayor Michael Bloomberg’s plan to address global warming in New York City, which already includes orders to switch the city’s taxi fleet to hybrids by 2012 and to retrofit city buildings to meet greener standards.