Newsletter: Today: A Merger’s Side Effects. Shoplifting Suspects, Beware.

I'm Davan Maharaj, editor of the Los Angeles Times. Here are some story lines I don't want you to miss today.

TOP STORIES

Side Effects Include …

Lower corporate taxes. More "financial flexibility" to invest in R&D and manufacturing. Fears of higher drug prices for consumers. Those are just some of the potential effects of a $160-billion merger between Allergan and Pfizer that would create the world's largest drugmaker. Here's why Pfizer's CEO calls it "a great deal for America" while Hillary Clinton says it "will leave U.S. taxpayers holding the bag."

Shoplifting Suspects, Beware

For those accused of shoplifting, it's an offer that can be hard to refuse: Risk prosecution, or sign a confession and pay hundreds of dollars to take a "life skills" course offered by Corrective Education Co. A new lawsuit by the San Francisco city attorney says the firm's practices amount to extortion and false imprisonment -- an allegation the company says is without merit. Welcome to the brave new world of "restorative justice."

Rubio's Delicate Immigration Dance

When it comes to immigration politics, Marco Rubio is coming under fire from the right and the left. Donald Trump called his Republican rival the "king of amnesty," while Hillary Clinton's camp has criticized Rubio for backing away from offering a path to citizenship for those in the U.S. illegally. See why the fight over immigration isn't helping the man trying to become the nation's first Latino president.

In Odessa, Old Habits Die Hard

The Ukrainian region of Odessa has long been a place where the wealthy play by their own rules. Mikheil Saakashvili, a former president of Georgia, was brought in to change all that as governor. But after six months on the job, things haven't gone so well in the corruption cleanup department. Here's why Odessites are complaining that things have not changed for the better. 

Cleared After 16 Years in Prison

Luis Lorenzo Vargas spent 16 years behind bars for three sexual assaults his attorneys say were committed by a serial rapist still on the loose. On Monday, an L.A. County judge threw out his conviction, after DNA evidence exonerated him in at least one of the attacks. Instead, it implicated the notorious "teardrop rapist." What led to this reversal? Read on.

CALIFORNIA

-- One-third of the nation's 30 worst traffic bottlenecks are in the L.A. area, a study says.

-- At Sierra ski resorts, snowflakes and optimism are in the air. 

-- A $4.9-million settlement has been reached in the death of mentally ill homeless man Kelly Thomas. 

-- Sandy Banks: What can be done to identify and help families on the brink?

NATION-WORLD

-- Turkey shoots down a Russian warplane near the Syrian border.

-- A new global call to fight extremism: Join a terrorist group, lose your citizenship.

-- Ebola reappears in Liberia, leaving the question: Why?

-- Activists seek the release of a poet and artist sentenced to death in Saudi Arabia.

-- Planned Parenthood sues Texas over Medicaid funding.

-- Inside the Carson factory that makes the Donald Trump trucker hats.

BUSINESS 

-- How TV networks are profiting from holiday movies. 

-- Inside Snapchat's newest feature: Story Explorer.

-- Korean American lender Hanmi proposes a $1.6-billion merger with its rival BBCN.

SPORTS

-- Never mind the records: The stakes are high, as usual, in the USC-UCLA football rivalry. Plus: Look back at 10 years of Sports section covers.

-- Dodger players, past and present, react to Dave Roberts' hiring as manager. 

ENTERTAINMENT

-- Actresses on acting: Cate Blanchett, Brie Larson, Helen Mirren, Charlotte Rampling, Saoirse Ronan and Lily Tomlin discuss.

-- Theater review: "Straight White Men" gently wrestles with the meaning of privilege.

-- Opera review: "Norma" and "La Clemenza di Tito" make for a Roman feast in L.A.

WHAT OUR EDITORS ARE READING

-- Is there a method to the madness of ISIS? (The Atlantic)

-- The Boston Globe examines the practice of "concurrent surgery," or operating on two patients at one time.

-- The real story behind "In the Heart of the Sea": How Nantucket became a whaling capital.(Smithsonian Magazine)

ONLY IN L.A.

When the Petersen Automotive Museum’s exterior was revamped a few months ago, the reaction on social media was passionate: One person dubbed it the "Edsel of architecture." But what’s it like under the hood? Get a sneak peek of how the museum hopes to go beyond its vintage Hollywood car collection with interactive technology and a new focus. 

Please send comments and ideas to Davan Maharaj.