Media Digest 7/31/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, T Boone Pickens is seeking an "army" of business leaders and citizens to back alternative energy.

Reuters reports that Starbucks (SBUX) posted if first loss as a public company but back its forecast for the next fiscal.

Reuters writes that Chrysler may make cars to be marketed by Fiat and Tata.

Reuters reports that write-downs at Deutsche Bank (DB) have now totalled $11 billion.

Reuters reports that Merrill Lynch’s (MER) reorganization of its balance sheet may only be supporting an illusion of improvement in the company’s fortunes.

The Wall Street Journal writes that Google (GOOG) may set up a venture capital arm.

The Wall Street Journal reports that high oil prices pushed up Shell’s net.

The Wall Street Journal writes that Disney (DIS) theme parks helped increase the company’s earnings.

The Wall Street Journal writes that GM (GM) will cut 5,000 white collar workers.

The New York Times reports that the number of workers being moved from full-time employees to part-time is rising rapidly.

The New York Times writes that Amgen (AMGN) has been ordered to change the label on one of its best selling drugs, which treats anemia, in a way that may cuts its sales.

The New York Times writes that EADS will cut more jobs because of the weak dollar.

The FT reports that Morgan Stanley (MS) may spend $1 billion on new hires.

The FT writes that Moody’s is downbeat on a recovery of the credit markets.

Bloomberg reports that China’s sovereign debt rating was raised to A+ by S&P.

Douglas A. McIntyre