Media Digest (10/2/2009) Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: The retirement package for Ken Lewis of Bank of America (BAC) may be as high as $125 million. Reuters: US car sales plunged in September with Ford (F) up and GM down. Toyota (TM) and Honda (HMC) also lost…
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Reuters: US car sales plunged in September with Ford (F) up and GM down. Toyota (TM) and Honda (HMC) also lost sales.
Reuters: The CIT (CIT) board approved a restructuring plan.
Reuters: Comcast (CMCSA) shares were punished on rumors it might buy the NBC Universal unit of GE (GE).
Reuters: Fed officials said the economy was getting better but there are pockets of major weakness.
Reuters: Wal-Mart (WMT) says it sees a slow business recovery.
Reuters: Geithner said a strong dollar is important.
Reuters: Toyota’s (TM) chief is worried about profits due to the decline of the dollar.
Reuters: Northrup (NOC) beat Boeing (BA) on a $3.8 billion tanker maintenance contract.
WSJ: The Fed may have improperly gotten money from Lehman ahead of creditors.
WSJ: Bank of America (BAC) may hire a “short term” CEO.
WSJ: The UK gave Xstrata a deadline in its bid for Anglo-American.
WSJ: RBS (RBS) appointed two new directors.
WSJ: Bernanke backed a council of regulators to watch for risk in the larger financial system and economy.
WSJ: The new head of Wal-Mart (WMT) must deal with a competitive market and expansion overseas.
‘WSJ: Cicso (CSCO) is stepping up its rivalry with HP (HPQ).
WSJ: Comcast (CMCSA) may be worried that the Internet may become one of the largest content channels.
WSJ: Parts of Asia are worried about inflation.
WSJ: The VIX jumped on stock fears.
WSJ: Mortgage rates fell below 5%.
WSJ: Delta (DAL) and the AFL-CIO are at odds over work rules.
WSJ: The Washington Post (WPO) and Bloomberg are creating a new service.
NYT: China’s economy is gaining on Japan.
NYT: A large Madoff investor has trouble getting money back in 2003.
NYT: Bayer is being charged with deceptive labeling on a cancer drug.
FT: The crisis has created a new sophistication about risk.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.