Media Digest 6/4/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   GM and Chrysler said closing dealers was essential to their restructuring.

Reuters:   The Justice Department is probing big tech employee recruiting.

Reuters:   Medical bills underlay 60% of American bankruptcies.

Reuters:   The US will offer its new financial regulatory plan on June 17.

Reuters:   Chinalco may revise its Rio Tinto (RTP) bid.

Reuters:   United (UAUA) is asking Boeing (BA) and Airbus to provide 150 new plans.

Reuters:   Wal-Mart (WMT) will add 22,000 employees at US stores.

Reuters:   Morgan Stanley (MS) may be among the first to exit the TARP.

Reuters:   Touchscreen PCs may be more hype than reality.

Reuters:   Creeping rates, volatility, and risk could derail the financial recovery.

WSJ:   Bernanke warned that the deficit must be reduced.

WSJ:   Banks are trying to escape off-balance-sheet accounting rules that could make them raise more money.

WSJ:   Executives often sell shares in their companies right before their prices go down.

WSJ:   Homebuilders see signs of stabilization.

WSJ:   Merck (MRK) plans to sell its animal health assets.

WSJ:   Electronics companies are now selling screens that are thinner than those released just a few years ago.

WSJ:   Icahn claimed board seats in his fight with Biogen.

WSJ:   Data Domain (DDUP) took at $1.9 billion order from NetApp (NTAP) over one from EMC (EMC).

WSJ:   Dish Network (SATS) won a stay of a court victory by Tivo (TIVO).

WSJ:   GM may become profitable but only because of billions of dollars in upfront investment by taxpayers.

WSJ:   Temasek lost big on its investment in Barclays (BCS).

WSJ:   The market is wondering if Pepsi (PEP) will stand by its original offer for its bottlers.

WSJ:   Southwest (LUV) pilots rejected a new contract.

WSJ:   News Corp (NWS) appointed a new president.

WSJ:   Adobe (ADBE) is trying to crack the handset market.

NYT:   Taiwan tech firms are seeking to expand into global markets.

NYT:   More and more Americans cannot afford prescription medicines.

NYT:   Rising interest rates on world debt could hurt growth across the globe.

NYT:   Regulators will announced their plans for derivatives.

NYT:   Investors in developing markets see optimism.

NYT:   In its restructuring, GM will try to learn from its successful global operations.

NYT:   Selling troubled mortgage assets would force banks to take large write downs.

NYT:   Manchester United will replace AIG (AIG) as its sponsor.

FT:   Clear Channel investors may force a debt restructuring on the company.

FT:   AIG (AIG) may break up its aircraft leasing company.

Bloomberg:   GM’s bonds indicate investors think its market value will eventually be greater than Ford’s (F).

Bloomberg:   The International Air Transport Association says global airline losses will be worse than expected.

Douglas A. McIntyre