Media Digest 12/25/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, as the recession is spreading countries are increasing spending in an attempt to revive economies.

Reuters reports that GMAC got federal approval to be a bank holding company.

Reuters writes that The New York Times (NYT) may sell its piece of The Boston Red Sox to raise money.

Reuters reports that oil dropped 9% due to the widening recession.

Reuters reports that consumers are cutting spending and the outlook for jobs is bleak.

Reuters writes that short interest on NASDAQ and the NYSE fell.

Reuters writes that core inflation fell in November but there was no deflation.

Reuters reports that RIM (RIMM) sued Motorola (MOT) for blocking job offers.

Reuters reports that the slump in corporate profits is seen running well into 2009.

Reuters reports that home prices may rise due to the refinancing boom.

The Wall Street Journal reports that falling gas prices are helping consumers during the recession.

The Wall Street Journal reports that Chrysler plans huge cost cuts.

The Wall Street Journal reports that YRC was seeing a large slump in shipping.

According to The New York Times "Foot traffic at retail stores declined 23.7 percent and sales fell 5.3 percent compared with a year ago, according to the research firm ShopperTrak."

The New York Times reports that the market for corporate jets in in free fall.

The FT reports that the S&P 500 is set to end the year 40% lower.

Blooomberg reports that BOJ may consider extraordinary measures to help the economy.

Douglas A. McIntyre