Good morning and welcome to Thursday's Daily Read. President-Elect Obama has shifted his focus to his transition into the White House. Meanwhile, the Department of Homeland Security is reducing the requirements attached to its security grants and the Iowa meatpacking plant that was recently raided by immigration officials has declared bankruptcy.

DHS Reduces Grant Requirements » DHS announced plans yesterday to dole out $3 billion in counter terrorism grants next year to state and local agencies with far fewer strings attached than in past years, a concession to tightening budgets at all levels of government. — Washington Post

Iowa Meatpacker Bankrupt after Immigration Raid » The kosher meatpacking company in Iowa that has been struggling with criminal charges and huge fines for labor violations since an immigration raid at its main plant has filed for bankruptcy. — New York Times

Minn. Bridge Collapse Report Due Next Week » Federal investigators next week will issue their final report on last year's fatal highway bridge collapse in Minneapolis, which is likely to spur calls for greater spending on bridges across the nation. — USA Today

Obama Faces Choices on National Security Issues » Difficult choices on the detention facility in Guantanamo Bay and intelligence policies await the president-elect. — Wall Street Journal

Treasury Explores Bailout Options » The Treasury Department is exploring additional ways to apply the $700 billion financial-industry rescue package, which could provide fodder for forthcoming congressional oversight hearings. — Wall Street Journal

UK Black Boxes to Collect E-mails » Internet "black boxes" will be used to collect every e-mail and web visit in the UK under the government's plans for a giant "big brother" database. — The Independent