Media Digest 5/20/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   The Treasury is keeping banks guessing about when they can repay TARP funds.

Reuters:   Bank of America (BAC) has raised more than $13 billion in share sales.

Reuters:   Hewlett-Packard’s (HPQ) financial outlook disappointed the market.

Reuters:   Terminated Chrysler dealers will challenge the sale of the company’s assets.

Reuters:   Obama is considering an agency to protect consumer’s financial interests.

Reuters:   Microsoft (MSFT) may unveil a new search engine.

Reuters:   Facebook’s CEO said an IPO is several years away.

Reuters:   Japan had a sharp drop in GDP.

Reuters:   A group of AIG (AIG) investors will get $843 million.

Reuters:   AT&T (T) is considering a cheaper data plan for the Apple (AAPL) iPhone.

Reuters:   GM’s (GM) bankruptcy would hope to cause a quick sale of assets.

Reuters:   Treasury is seeking to fill out its team of senior officials.

WSJ:   Banks are holding life insurance policies for workers with themselves as beneficiaries to help fund bonuses.

WSJ:   Officials are thinking about having one mortgage regulator.

WSJ:   Investors are beginning to buy distressed homes.

WSJ:   A new bill passed by the Senate would cut credit card fees.

WSJ:   Californians rejected new budget measures.

WSJ:   Obama’s fuel plan will put the final touches on a plan to restructure the car industry.

WSJ:   AstraZeneca accused of promoting  antipsychotic drug Seroquel for unapproved uses in children and elderly

WSJ:   AIG (AIG) trustee is beginning restructuring the firm’s board.

WSJ:   Intel (INTC) is unveiling software to compete with Microsoft (MSFT) Windows.

WSJ:   Home Depot (HD) made a cautious forecast with its earnings.

WSJ:   Palm’s (PALM) Pre is set for a June debut.

WSJ:   The gap between long-term and short-term Treasuries is growing, signaling a recovery.

WSJ:   Allstate (ALL) rejected money from the TARP.

WSJ:   Saks (SKS) shares are up sharply but the retailer is still in trouble.

WSJ:   MGM (MGM) is betting on hotels in Asia and the Middle East.

WSJ:   Porsche and VW reaffirmed their goal to combine the companies.

WSJ:   The CEO of GE (GE) said he is optimistic about the company’s outlook.

WSJ:   A proxy firm backed investors challenging Target (TGT).

NYT:   The SEC may set a rule to improve the chances of investors electing company board members.

NYT:   TV advertisers are being offered closer ties to content.

NYT:   Shareholders rejected pay packages for Shell executives.

FT:   Three companies are bidding for part of GM’s (GM) Europe operations.

FT:   JPMorgan (JPM) criticized rules that prevent some foreign workers from being employees of the bank.

Bloomberg:   The US may take some powers from the SEC and give them to the Fed.

Bloomberg:    The head of Electronic Arts (ERTS) says a new fitness game may help Nintendo Wii sales.

Douglas A. McIntyre