Media Digest 10/3/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, the House will vote on the bailout bill today.

Reuters reports that JP Morgan (JPM) will not keep the CEO of WaMu.

Reuters reports that John Thain of Merrill Lynch (MER) will head investment banking and wealth management at Bank of America (BAC).

Reuters writes that James Bullard, of the Fed does not think rates should be cut to 1%.

Reuters reports that U.S. banks borrowed a record $367.8 billion per day from the Federal Reserve last week.

Reuters writes that corporate America is now caught in the financial credit crisis.

Reuters writes that the global auto slowdown may undermine the results of cost cutting.

Reuters reports that retailers may have to kill growth plans and shrink to survive.

The Wall Street Journal reports that the financial crisis is worsening over whether the bailout bill will be effective and whether the broader economy is falling sharply.

The Wall Street Journal reports that stocks in insurance companies are dropping on fears that they will be the next set of firms hit by the credit crisis.

The Wall Street Journal reports that Google (GOOG) may drop its philosophy about not advertising its brand.

The Wall Street Journal reports that Microsoft (MSFT) is opening large new research operations to improve its search technology.

The Wall Street Journal writes that HP (HPQ) will launch its own smartphone.

The Wall Street Journal said that the September employment figures are likely to get much worse.

The Wall Street Journal reports that DH Horton is selling land cheap in California to get a tax benefit.

The Wall Street Journal reports that the new head of GE Healthcare will have to deal with product problems and falling demand.

The Wall Street Journal reports that Ford (F) will sell $500 million in stock to pay down loans.

The Wall Street Journal reports that Merck (MRK) is ending development of an obesity drug.

The Wall Street Journal reports that Nokia (NOK) has launched a phone to challenge the Apple (AAPL) iPhone.

The Wall Street Journal reports that Sprint (S) has found buyers for its NexTel business.

The Wall Street Journal reports that Nintendo will add a camera to it game platform.

The Wall Street Journal reports that Sirius (SIRI) has launched a number of new programming options to add customers.

The New York Times reports that an SEC decision in 2004 helped banks pile on debt.

The New York Times reports that falling oil prices are a silver lining in a bad economy.

The New York Times reports that the bad economy is making the Fed look at a rate cut.