Media Digest 10/29/2009 Reuters, WSJ. NYTimes, FT, Bloomberg

Reuters:   House Democrats unveiled their healthcare bill.

Reuters:   Senators may extend home purchase credits until April.

Reuters:   China will launch a case against The Big Three auto companies.

Reuters:   Galleon paid Wall St. bankers millions to give data that would allow a trading “edge.”

Reuters:   The SEC is looking for ways to follow fast trading.

Reuters:   CIT (NYSE:CIT) was able to secure a $4.5 billion lending facility.

Reuters:   New home sales dropped last month.

Reuters:   Big US companies are lining up against the healthcare public option.

Reuters:   Accounting irregularities may be on the rise in the US.

Reuters:   US holiday spending could fall more than expected.

Reuters:   GM’s CEO said the money the government has given it is adequate.

Reuters:   McKinsey and Akamai (NASDAQ:AKAM) are opening investigations into Galleon trading.

WSJ:   Senators and Congressman are meddling in management decisions at GM and Bank of America (NYSE:BAC).

WSJ:   The FTC may get expanded powers.

WSJ:   AIG (NYSE:AIG) is getting billions of dollars from banks as credit-default-swap trades have reversed in its favor.

WSJ:   P&G (NYSE:PG) may kill some brands.

WSJ:   Motorola’s (NYSE:MOT) new phone will launch today.

WSJ:   Deutsche Bank’s (NYSE:DB) net rose.

WSJ:   Saks (NYSE:SKS) will test private sales for certain customers online.

WSJ:   Google (NASDAQ:GOOG) will limit call blocking in its voice application.

WSJ:   Some debt issuers find they do not need credit rating agencies.

WSJ:   Many economists believe that brisk GDP growth cannot last.

WSJ:   Greenhill will spin out its private equity operations.

WSJ:   GM will draw more funds, mostly to help Delphi.

WSJ:   Ford (NYSE:F) has tapped China’s Geely as the lead bidder for Volvo.

WSJ:   Costco (NASDAQ:COST) will allow customers to use food stamps.

WSJ:   US Airways (NYSE:LCC) will cut more routes.

NYT:   Nintendo will launch a larger screen DS for $222.

NYT:   Google’s (NASDAQ:GOOG) move into mobile GPS will be a challenge for many other companies.’

NYT:   GM is seeing an improvement in sales and market share.

NYT:   Europe approved the break up of Northern Rock.

FT:   China’s sovereign wealth fund warned of an asset price bubble.

FT:   401K funds are improving but still at the mercy of the market.

Bloomberg:   Buffett beat Gross in a global poll for which investor has the most wisdom.

Bloomberg:   The Fed is cutting purchases of paper that held down yields.

Douglas A. McIntyre