Media Digest 12/19/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, GM (GM) and Chrysler are close to a loan deal with the government.

Reuters reports that Obama will ask for a major stimulus package focusing on infrastructure and helping state finances.

Reuters reports that BOJ cut rate to help the Japanese economy.

Reuters reports that oil is steady at $36, a four-and-a-half year low.

Reuters reports that Panasonic will spend $4.5 billion to buy Sanyo.

Reuters reports that GMAC’s effort to become a bank may fail.

Reuters reports that Oracle’s (ORCL) sales dropped but investors moved up the stock.

Reuters reports that Toyota (TM) may post its first operating loss since it was started.

Reuters reports that RIM (RIMM) posted a strong forecast.

Reuters reports that S&P say GE’s (GE) "AAA" rating could be at risk.

The Wall Street Journal reports that Obama will sharply increase regulation of financial markets.

The Wall Street Journal reports that Fedex (FDX) cut salaries.

The Wall Street Journal reports that Schwarzenegger rejected a California budget plan because it did not have enough cuts.

The Wall Street Journal reports that Sumner Redstone is closer to a deal with his creditors.

The Wall Street Journal reports that Sirius XM (SIRI) approved a reverse stock split.

The Wall Street Journal writes that Hynix will cut DRAM production by 30%.

The Wall Street Journal reports that the fall in oil prices is causing unrest in Russia.

The Wall Street Journal reports that accountants may fight to keep bank mark-to-market rules.

The Wall Street Journal reports that retailers will offer huge discounts the last weekend of the holiday.

The Wall Street Journal reports that builder Lennar reported a large loss.

The Wall Street Journal reports that ad agency Omnicom will cut jobs.

The New York Times reports that bankruptcy of GM (GM) and Chrysler is a possible part of US loans.

The New York Times reports that China is facing a huge challenge to its economic model.

The New York Times reports that a 1997 change to capital gains taxes may have helped create the housing bubble.

The New York Times reports that The Conference Board’s measure of the economy dropped in November.

The New York Times reports that new rules have been passed to help credit card holders.

The FT reports that banks loaned billions of dollars to Madoff "feeder funds".

The FT reports that Trump is working on a plan to save his gaming business.

Douglas A. McIntyre