Media Digest 8/12/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   GE’s (GE) water business may be too small to help earnings.

Reuters:   Madoff’s CFO plead guilty.

Reuters:   Auto inventories are tight but interest in the “clunkers” program is falling.

Reuters:   China formally arrest Rio Tinto (RTP) employees.

Reuters:   JP Morgan (JPM) is trying to sell 23 office properties.

Reuters:   George Soros says the US economy has bottomed.

Reuters:   BHP Billiton’s (BHP) profits beat forecasts.

Reuters:   GM claimed remarkable mileage from its Volt electric car.

Reuters:   Lender Taylor Bean will probably go bankrupt.

WSJ:   A survey of economists  showed strong support for Bernanke to be reappointed.

WSJ:   US firms are being investigated for a Mexican oil scam.

WSJ:   The FDA chief has been accused of a conflict of interest.

WSJ:   Electricity prices are dropping sharply with demand.

WSJ:   The White House is considering allowing vouchers for the “clunkers” program because of low auto inventories.

WSJ:   Nestle posted a small decline in its net.

WSJ:   Obama unveiled a derivatives plan.

WSJ:   The new RIM (RIMM) Blackberry Curve costs less than other models of the handset.

WSJ:   Microsoft (MSFT) reached a deal with Nokia (NOK) to put a version of Office on handsets.

WSJ:   Toyota (TM) is still pushing the Prius in China.

WSJ:   RealNetworks (RNWK) lost a court case on DVD copying.

WSJ:   US productivity rose sharply as companies reduced costs.

WSJ:   Atticus Capital will close two large funds.

WSJ:   Both output and demand rose in China.

WSJ:   Improvement in the US trade gap are likely to end.

WSJ:   CIT (CIT) delayed its quarterly filing.

WSJ:   Yahoo! (YHOO) is trying to convince Wall St. that it future as a portal is bright.

NYT:   China’s incinerators have become a global health hazard.

NYT:   Banks in Asia steered clear of complex mortgage instruments.

NYT:   Investors sold bank shares ahead of news from the Fed.

FT:   Speculation is growing over the turning point in the Dollar’s value.

Bloomberg:   A Bloomberg survey of economists expect four quarter of growth of 2% or better and unemployment to rise above 10%.

Douglas A. McIntyre