Media Digest 10/15/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
October 15, 2008 by Douglas A. McIntyre
According to Reuters, economic attention has now turned to the recession.
Reuters reports that a new survey shows that half of all workers are worried about their jobs
Reuters reports that unions are worried about a possible GM (GM) merger with Chrysler.
Reuters reports that many Asia nations are also considering bailing out their banks.
Reuters writes that even though the Fed sees a threat of inflation it is not ready to cut rates.
Reuters reports that the US budget deficit hit $455 billion.
Reuters writes that banks stocks surged on news of the US government bailout.
Reuters writes that Intel (INTC) beat its numbers but was unsure about future quarters due to a slow economy.
Reuters reports that Toyota (TM) said the US car market was weak and that the US market was extremely troubled.
Reuters said that Acer is gaining in the global PC notebook business but HP (HPQ) continues to be the overall world market share leader.
The Wall Street Journal reports that "Pimco will manage the Fed’s program to fund purchases of commercial paper."
The Wall Street Journal reports that there is no quick fix for housing prices.
The Wall Street Journal reports that Apple (AAPL) held the prices of its notebooks steady.
The Wall Street Journal reports that Genetech (DNA) did well because of sales of its top drugs.
The Wall Street Journal reports that Pepsi (PEP) will cut jobs.
The Wall Street Journal reports that former AIG (AIG) CEO Hank Greenberg called for changes to the insurance company’s bailout.
The Wall Street Journal reports that the CEO of P&G (PG) said the company is confident about its future.
The New York Times reports that despite a big rally the outlook for jobs is grim.
The New York Times reports that poor numbers are increasing concerns about a recession in Europe.
The New York Times reports that October auto sales are on track to be as bad as September.
The New York Times reports that Daimler will cut jobs in the US and Canada.
The Wall Street Journal reports that GE (GE) is having trouble selling commercial property that it owns.
The Wall Street Journal reports that lower salaries could keep Wall St from attracting new talent.
The Wall Street Journal reports that the Democrats are looking at a $300 billion stimulus package.
The Wall Street Journal reports that banks may still not be "buys" now.
The Wall Street Journal writes that the rally in Citigroup (C) ignores its increasing losses.
The Wall Street Journal reports that Airbus is doing well despite economic turbulence.
The FT writes that banks in Europe deny that they rushed to get access to new capital.
The FT reports that American companies are keeping cash instead of making share buy-backs.
Bloomberg writes that Paulson does not have the powers to make banks lend out the new money he is investing in them.
Bloomberg says that the Fed offered Citigroup (C) and GE (GE) aid in commercial paper
Douglas A. McIntyre
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