Media

Media Digest 3/3/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, too much dependence on government aid could cause a second recession when the companies are forced to stand on their own.

Reuters reports that Obama is considering funds to buy bad assets.

Reuters reports that February auto sales will be near a 27-year low.

Reuters reports that sales of the Apple (AAPL) Mac are growing overseas but face hurdles.

Reuters writes that an anti-tax haven bill is coming to the Senate.

Reuters reports that a unit of Toyota (TM) is seeking a $2.1 billion state-backed loan.

Reuters reports that the new US aid to AIG (AIG) may not be the last.

Reuters reports that HSBC (HBC) will shut most of its US businesses.

Reuters reports that the Bank of America (BAC) CEO had his comp cut 60% last year.

The Wall Street Journal reports that Saab is stepping up talks with buyers.

The Wall Street Journal reports that CItigroup (C) is lowering mortgage payments for some people who have lost jobs.

The Wall Street Journal reports that Microsoft (MSFT) is starting a new internet search engine.

The Wall Street Journal reports that Freddie Mac’s (FRE) new CEO is leaving.

The Wall Street Journal reports that the frugality of shoppers is hurting business.

The Wall Street Journal reports that Intel (INTC) and TSMC are started a venture to build small chips.

The Wall Street Journal reports that GM (GM) will buy Delphi’s steering business.

The Wall Street Journal reports that EMC (EMC) has been accused of taking kickbacks.

The Wall Street Journal reports that Munich Re had weak earnings.

The Wall Street Journal reports that PNC (PNC) cut its dividend.

The Wall Street Journal reports that money under management at sovereign wealth funds rose last year.

The Wall Street Journal reports that a Chinese lawmaker is likely to bid for Volvo.

THe Wall Street Journal reports that Toyota (TM) is cutting global production by 12%.

The New York Times reports that the US is likely to keep reigns on Fannie Mae (FNM) and Freddie Mac (FRE).

The New York Times reports that Genentech (DNA) says a bid from Roche is too low.

The New York Times reports that a Deutsche Bank analyst says GE (GE) has billions of dollars of unrealized losses in its financial unit.

The FT reports that the head of Bank of America (BAC) thinks it was a mistake to take so much government aid for the purchase of Merrill.

The FT reports that this is the worst year for dividend cuts since 1938.

Bloomberg reports that Toyota (TM) may have it first loss in six decades.

Bloomberg reports that Chinese officials think its economy could recover in the first half.

Douglas A. McIntyre