Media Digest 8/22/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, Warren Buffett and the head of Blackstone (BX) called for a solution to the govenment’s growing debt load and reliance of foreign investors to finance US borrowing.

Reuters reports that Korean banks held talks with Lehman (LEH) about taking a stake in the US broker.

Reuters writes that Boeing (BA) is thinking of planning a protest for the way the bidding for a big tanker contest is being managed.

Reuters reports that several firms including Merrill Lynch (MER), Goldman Sachs (GS), and Deutsche Bank (DB) have agreed to auction-rate settlements, but more companies are being investigated.

Reuters reports that GM (GM) is preparing a prospectus for selling Hummer.

The Wall Street Journal writes that inflation is rising faster than wages in the US.

The Wall Street Journal reports that Verizon (VZ) is near a deal to use Google (GOOG) to use its search functions on many of the phone company’s devices.

The Wall Street Journal reports that Freddie Mac (FRE) is talking to private equity firms about raising cash.

The Wall Street Journal writes that Harbinger increased its stake in Cablevision (CVC) to 8.1%.

The Wall Street Journal reports that sales of televisions are rising despite a tough economy.

The Wall Street Journal writes that Time Warner’s (TWX) studio will bet on fewer, larger movies.

The Wall Street Journal reports that several organizations are trying to unseal documents in the AMD (AMD) antitrust case against Intel (INTC).

The Wall Street Journal reports that profits at Gap (GPS) rose and the company named a new chief for Old Navy.

The New York Times reports that commercial property loans may be the next debt downturn.

The New York Time writes that oil is holding above $121.

The FT reports that investors are pulling money out of Russia.

The FT writes that Fannie Mae (FNM) and Freddie Mac (FRE) stocks stabalized.

Bloomberg writes that many corporations are getting deals less favorable that those offered to individual investors in the recent auction-rate settlements.

Bloomberg reports that the break-up of IAC may fail to improve shareholder value.

Douglas A. McIntyre