(FORTUNE Small Business) – 1 THE HEADLINES Transitions: Former President Bill Clinton joins an investment advisory firm

THE TAKE Now Bill and Jack Welch have something in common: Welch joined an LBO firm after leaving GE. You thought we meant their shared penchant for scandalous affairs? Oh, behave!

2 [THE HEADLINES] The economy: Good? Bad? Indifferent?

[THE TAKE] We've heard all the stories about the resilient U.S. economy, but the Scorecard team still gets skittish. The Mideast is, well, the Mideast, and companies continue to lay off in droves. But hey, that's just us.

3 [THE HEADLINES] Goodbye to the Queen of Steak Houses, Ruth Fertel

[THE TAKE] The Ruth's Chris Steak House founder, who died of lung cancer at 75, launched her $328 million chain in 1965 and prospered despite U.S. health kicks. We still don't get all that butter, but God bless.

4 [THE HEADLINES] Next stop: a Florida prison cell for Steve Madden

[THE TAKE] The shoe mogul will head to prison in August to start a 3 1/2-year sentence for insider trading. Investors lost $100 million, but he should spend another few months in the can for those platform sneakers.

5 [THE HEADLINES] The dot-com watch: Beliefnet heads off to Chapter 11

[THE TAKE] This interfaith site was launched to capitalize on, as AP puts it, "Americans' interest in religion and spirituality." But higher powers couldn't prevent a familiar story: no ads. Jobs cut. Pass the collection plate.