Media Digest 9/24/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

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According to Reuters, Warren Buffett invested $5 billion in Goldman Sachs (GS).

Reuters says that the Paulson bailout plan is being attacked in Congress.

Reuters reports that Japanese banks, in trouble a decade ago, are buying into US financial stocks.

Reuters reports that hedge funds will probably not be included in the government bailout.

Reuters reports that Yahoo! (YHOO) is in talks with Time Warner (TWX) to buy AOL.

Reuters writes that Wal-Mart (WMT) will open its first small grocery store.

Reuters reports that AIG (AIG) has signed a deal to take an $85 billion government loan.

Reuters writes that Chrysler lost $400 million through August.

The Wall Street Journal says that debate over the Paulson bill may sharply increase government regulation of financial firms.

The Wall Street Journal reports that the FBI is examining actions at Fannie Mae (FNM), Freddie Mac (FRE), and AIG (AIG).

The Wall Street Journal reports that a fund run by T. Boone Pickens is down about $1 billion this year.

The Wall Street Journal reports that short sale bans have hurt results at some mutual funds.

The Wall Street Journal reports that T-Mobile introduced a new phone powered by Google’s (GOOG) new handset software.

The Wall Street Journal reports that DuPont named a new CEO.

The Wall Street Journal writes that IBM (IBM) will open move server centers.

The Wall Street Journal writes that Cisco (CSCO) is stepping up its bet on corporate collaboration software.

The Wall Street Journal reports that Bernanke and Paulson described the details of the auction they would run to buy toxic bonds.

The Wall Street Journal reports the the Paulson plan could help bank balance sheet through the purchase of mortgage-related paper at a premium.

The Wall Street Journal reports that Verizon (VZ) will offer wireless service without calling plan contracts.

The New York Times reports that Congress wants the bailout to be of more help to homeowners.

The New York Times writes that vulture investors will try to buy weak banks on the cheap.

The New York Times reports that the investigation into rising oil prices is expanding.

The FT reports that corporate America is sitting on hundreds of billions of dollars in cash.

The FT reports that Sony Ericsson will offer an unlimited music plan for its phones.

Douglas A. McIntyre