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Media Digest 6/2/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   Global consumer confidence is improving. Reuters:   GM (GM) filed for Chapter 11 and expects a quick exit. Reuters:   Most US retailers probably had sales drop in May. Reuters:   China gave Geithner backing for the US programs to stimulate the…

By Douglas A. McIntyre
Published June 2, 2009, 2:58am ET · 2 min read

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Reuters:   Global consumer confidence is improving.

Reuters:   GM (GM) filed for Chapter 11 and expects a quick exit.

Reuters:   Most US retailers probably had sales drop in May.

Reuters:   China gave Geithner backing for the US programs to stimulate the economy.

Reuters:   The DJIA was shaken up as GM (GM) and Citigroup (C) were taken out and Travelers and  Cisco (CSCO) were added.

Reuters:   Applied Materials (AMAT) sees more failures of semiconductor companies.

Reuters:   JPMorgan (JPM) and American Express (AXP) will sells shares to pay back TARP funds.

Reuters:   Toshiba expects it sales in the US to move up due to improvements in the economy.

Reuters:   Target (TGT) will partner with DailyCandy.com.

Reuters:   Interest in a government program to buy toxic assets is disappearing.

Reuters:   Citigroup (C) is halting severance payments to some executives who left.

WSJ:   EMC (EMC) made a big to buy Data Domain.

WSJ:   A committee backed the BOE in its oversight role.

WSJ:   Micron (MU) will spin-off its imaging unit.

WSJ:   China is probing US steel imports.

WSJ:   News Corp (NWS) may bring in an executive to serve as its No.2 manager.

WSJ:   The Supreme Court will consider whether business method patents should be expanded.

WSJ:   A Gulf oil billionaire is selling his stake in Barclays (BCS).

WSJ:   Americans are saving more money.

WSJ:   Analysts will find out if car buyers are bothered by Chapter 11 when Chrysler reports May numbers.

WSJ:   Treasury yields soared on concerns about the economy fading.

WSJ:   An accounting rule could hurt bank earnings this quarter.

WSJ:   Liberty Media is making money on its investment in Sirius XM (SIRI).

WSJ:   AMD (AMD) launched its new line of server chips.

NYT:   The UAW faces a balancing act as a GM (GM) shareholder.

NYT:   Investors have offered a new plan to take Delphi out of Chapter 11.

NYT:   A comprehensive plan to overhaul the US financial industry will go to Congress this summer.

NYT:   The FDA may reveal more data on its actions.

NYT:   Money sent home from Mexican workers in the US fell sharply.

NYT:   Interest rate cuts are starting to improve the global economy.

FT:   China backed the US dollar as the reserve currency.

FT:   CCB revealed its aversion to stakes in western banks.

Bloomberg:   Goldman Sachs (GS) will raise $1.9 billion by selling its ICBC shares.

Douglas A. McIntyre

Contact [email protected] for any questions or corrections.

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Douglas A. McIntyre

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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