Media Digest 3/24/2009

According to Reuters, Obama said that the recession would be halted by government efforts.

Reuters reports that Treasury wants broad new powers to wind down troubled non-bank financial firms.

Reuters reports that the latest US market rally may have legs.

Reuters writes that hedge fund Bridgewater may participate in the government toxic asset plan.

Reuters reports that the US will need more foreign oil as domestic drilling is cut back.

Reuters reports that Obama will meet with CEOs of JP Morgan (JPM), Goldman Sachs (GS), Citigroup (C), and other large banks.

Reuters reports that AIG (AIG) division ILFC expects three bids.

Reuters reports that Blockbuster (BBI) is aiming beyond stores with a new Tivo (TIVO) deal.

Reuters reports the pay of the CEO of Ford (F) will fall.

Reuters writes that Dell (DELL) is launching new servers and storage aimed at tight budgets.

Reuters reports that T-Mobile USA released its plans for a new, faster wireless system.

Reuters reports that US financial firms want more mark-to-market modifications.

The Wall Street Journal reports that the drive to tax AIG bonuses is slowing.

The Wall Street Journal writes that “Credit markets have improved some following U.S. intervention, but investors remain concerned about the prospects for success of the public-private program.”

The Wall Street Journal reports that two key Merrill analysts will leave Bank of America (BAC).

The Wall Street Journal reports that a key Senator will not support a plan that would make unionization easier.

The Wall Street Journal reports that Southwest (LUV) is moving into new markets.

The Wall Street Journal reports that Facebook has changed its design change.

The Wall Street Journal reports that the US is looking for new tax revenue.

The Wall Street Journal reports that GE (GE) won a large natural gas project in China.

The Wall Street Journal reports that Credit Suisse (CS) says the year is off to a strong start.

The Wall Street Journal reports that the e-book market is heating up.

The Wall Street Journal reports that access to Google’s (GOOG) YouTube was blocked in China.

The Wall Street Journal reports that Hungary’s pension obligations are at the heart of its financial problems.

The Wall Street Journal reports that the Treasury’s top candidate to run TARP dropped out.

The Wall Street Journal says economists think durable goods orders dropped for a seventh month, the longest period since 1973 to 1974.

The Wall Street Journal writes that firms are willing to mention bankruptcy much earlier in the process of possibly filing.

The Wall Street Journal reports that Deutsche Bank (DB) says a profit is possible.

The Wall Street Journal reports that Bank of China profits dropped 59%.

The Wall Street Journal reports that exchanges want to limit short bans.

The Wall Street Journal reports that airlines are not being helped much by the low price of oil.

The Wall Street Journal says Fedex (FDX) will cancel order for 30 planes if a new program to unionize US companies goes through.

The Wall Street Journal reports that The New York Times (NYT) sold one of its newspaper properties.

The Wall Street Journal reports that the net at William Sonoma dropped 90%.

The New York Times reports that the top hedge fund earners took in more than $11 billion last year.

The New York Times reports that health insurance companies may stop charging higher rates to sick people if Congress requires all Americans to have insurance.

The FT reports that Japan’s exports fell by half, the largest drop since 1957.

The FT reports that US banks face huge write-downs due to the toxic asset purchase plan.

The FT reports that Cerberus will stick with its investment in Chrysler and GMAC.

Bloomberg reports that hedge fund employee pay may drop 25% this year.

Douglas A. McIntyre