Media Digest 7/9/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   The promise of mobile TV is being destroyed by smartphone use of software applications.

Reuters:   More attacks on websites in the West are expected and North Korea is suspected.

Reuters:   China has arrested Rio Tinto (RTP) employees.

Reuters:   The age of the media mogul may be over.

Reuters:   Alcoa’s (AA) quarterly loss was smaller than expected.

Reuters:   CIT (CIT) is urging the government to back its bonds.

Reuters:   Blackrock (BLK) will raise $5 billion for a federal program to buy toxic assets from banks.  (C)(BAC)

Reuters:   AIG (AIG) is in talks to sell a unit to Met Life (MET).

Reuters:   Pickens pull back from wind energy could affect the future of the energy source.

Reuters:   Wall St may be facing a large correction.

Reuters:  JP Morgan (JPM) and Bank of America (BAC) are moving credit card holders to variable rates.

Reuters:   US consumer credit fell $3.23 billion in May.

WSJ:   The Administration is pondering whether it should re-appoint Bernanke as Fed chairman.

WSJ:   A House climate bill would favor US companies raising free trade concerns.

WSJ:   A key official is leaving the SEC.

WSJ:   GM is still working on the severance for former CEO Rick Wagoner.

WSJ:   Google (GOOG) is targeting Microsoft’s (MSFT) desk top application business.

WSJ:   Subprime is resurfacing as a housing market problem.

WSJ:   Las Vegas Sands (LVS) is considering an IPO of its Macau assets.

WSJ:   Empty malls are triggering rent cuts.

WSJ:   The Swiss will block any order for UBS (UBS) to provide data.

WSJ:   States will use federal funds to plug budget gaps.

WSJ:   OPEC cut its oil investment forecast.

WSJ:   Ad spending on social networks is expected to drop this year.

WSJ:   EMC (EMC) is likely to prevail in its bid for Digital Domain.

WSJ:   The US will crack down on suppliers who employ illegal aliens.

WSJ:   Prudential (PRU) will start to loan money to mid-sized firms.

WSJ:   China plans to sell a large number of bills to cut liquidity in the nation.

WSJ:   The interest rates that the US government is paying on debt may not keep falling.

WSJ:   Many are skeptical about Google’s (GOOG) plan to take on Microsoft (MSFT) in the OS business.

WSJ:   Hyundai may have trouble hanging on to market share if it drops incentives.

WSJ:   GM’s fate rides with Chevy, which could be 70% of its sales next year.

WSJ:   Panasonic is going after the appliance business in emerging markets.

WSJ:   Toyota (TM) is seeing a recovery of its business in China.

WSJ:   NRG rejected Exelon’s bid.

NYT:   Leaders of big unions are being distracted by disputes.

NYT:   “The Obama administration has had to adjust its plans for banks because many do not like the strings attached to government programs.”

NYT:   The Jackson memorial service set audience records on TV and the web.

NYT:   Best Buy (BBY) and Tivo (TIVO) are forming an alliance.

FT:   The IMF says that the world is pulling out of recession.

FT:   The G8 failed to agree on an economic boost package.

Bloomberg:   Citigroup (C) says AIG (AIG) has zero value for private holders.

Bloomberg:   China car sales moved up 48% in June.

Douglas A. McIntyre