Media Digest 11/2/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   Investors in the banking sector were disturbed by the CIT (NYSE:CIT) bankruptcy.

Reuters:   Summers will lead a high level meeting on the economy.

Reuters:   US companies are holding more cash.

Reuters:   The Fed is likely to keep interest rates flat due to economic uncertainty.

Reuters:   Comcast (NASDAQ:CMCSA) is close to gaining control of NBC Universal from GE (NYSE:GE).

Reuters:   Bank of American (NYSE:BAC) is trying to get the head of BNY Mellon (NYSE:BK) to take CEO job.

Reuters:   Goldman Sachs (NYSE:GS) is close to buying Fannie Mae (NYSE:FNM) tax credits.

Reuters:   Wal-Mart (NYSE:WMT) announced a second round of toy cost cuts.

Reuters:   October retail sales could be a disappointment.

WSJ:   The US and GMAC are fighting about capital levels at the lending company.

WSJ:   The head of BNY Mellon told Bank of America that he is not interested in the CEO job.

WSJ:   Danbury Resources (NYSE:DNR) will buy Encore Acquisition  (NYSE:EAC) for $3.25 billion .

WSJ:   The Apple (NASDAQ:AAPL) iPhone got a luke warm reception in China.

WSJ:   Editorial content at The Detroit Free Press is being influenced by advertisers.

WSJ:   EBay (NASDAQ:EBAY) will begin an ad campaign.

WSJ:   Companies hold more assets in cash that at any time in four decades.

WSJ:   The Fed is looking at raising interest rates.

WSJ:   More college presidents are earning over $1 million a year.

WSJ:   The Institute for Supply Management numbers for last month should be up a bit.

WSJ:   Blackstone (NYSE:BX) will broaden its business in China.

WSJ:   Investors in banks should look at loss buffers.

WSJ:   Ford (NYSE:F) may change the locations of where it builds some cars after losing a UAW vote.

NYT:   Human Genome Sciences (NASDAQ:HGSI) has a promising lupus drug.

FT:   The US Senate will introduce a draft financial bill.

FT:   Wal-Mart (NYSE:WMT) is looking at urban expansion in the US.

FT:   Pfizer (NYSE:PFE) says it back US health reform.

Bloomberg:   Citigroup (NYSE:C) and JP Morgan (NYSE:JPM) are hoarding cash as if another crisis is coming which will hurt returns.

Douglas A. McIntyre