In response to new sanctions and threats of an oil boycott over the country’s nuclear program, Iran is making ominous noises about closing the Strait of Hormuz. As the entrance to the Persian Gulf, it’s the gateway through which about a fifth of the world’s oil flows. According to the New York Times, VP Mohammad-Reza Rahimi recently promised, “If they impose sanctions on Iran’s oil exports, then even one drop of oil cannot flow from the Strait of Hormuz.” It’s certainly an alarming prospect, but the Washington Post downplays the risk. Such a move would cut off Iran’s shipments to China, as well, and the economic risk is simply too great.

The Congressional hearings over SOPA have been definitely delayed until next year. In the meantime, controversy continues to rage over the bill.

Amid all the concerns about job creation, the Wall Street Journal highlights a new trend in employers’ efforts to retain the workers they already have. A number of companies are reshaping work environments to be more sensitive to the needs of baby boomers who are aging, but still valuable and highly-skilled. That not only keeps them in the workforce, but it also reduces health care costs.

Consumer confidence rose to its highest level since April, reports the LA Times. Those surveyed by the Conference Board were more upbeat about the outlook for business and for jobs. That said, while a parallel poll from Gallup demonstrated increased optimism, folks still aren’t as cheerful as they were in the summer.

Perhaps buoyed by their increased confidence, shoppers were relying more heavily on credit this December, reports the Washington Post. In other retail news, the New York Times has a fascinating piece on — oh yes — online shopping while drunk. Some outlets are responding with slight promotional tweaks, including evening sales.

Finally, the New York Times takes a look back at the career of the late Joseph Farrell, who passed away earlier this month. The Hollywood marketing exec changed the face of the movie business by pioneering the use of focus groups and opinion tracking to shape upcoming features.