Media Digest 12/16/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

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According to Reuters, retail sales will probably drop further after the holidays.

Reuters reports that the shock waves of the Madoff scandal are spreading around the financial world.

Reuters writes that the auto bailout will be announced by Wednesday.

Reuters reports that the president of OPEC wants a cut of much more than one million barrels a day.

Reuters reports that the Fed will cut rates as a part of a group of emergency tool to help markets.

Reuters reports that that layoffs are sparking a "survival panic" among many people in trouble.

Reuters reports that one analysts believes Bank of America (BAC) stock could drop to $9.

Reuters reports that Boeing (BA) is protesting a satellite deal won by Lockheed.

Reuters reports that Apple (AAPL) US Mac sales were flat in November.

Reuters writes that KKR appointed a new CEO.

Reuters reports that AIG (AIG) sold $39.3 billion in assets to the NY Fed.

The Wall Street Journal writes that a suit over "light" cigarettes was allowed by the courts.

The Wall Street Journal reports that Madoff ran a vast options game.

The Wall Street Journal reports that the growth of online video ads is slowing.

The Wall Street Journal reports that the drop in energy prices are cutting the value of oil firms’ untapped reserves effected the value of the corporations.

The Wall Street Journal reports that pay raises are taking a hit.

The Wall Street Journal reports that Toyota (TM) is suspending the building of a US plant.

The Wall Street Journal reports that Bank of America cut several top officers.

The Wall Street Journal reports that the FDA will use new testing methods.

The Wall Street Journal reports that MGM Mirage (MGM) sold its Treasure Island location.

The Wall Street Journal reports that the FDA approved Abbot Labs (ABT) cholesterol medicine TriLipix.

The Wall Street Journal reports that concerns about Nortel’s (NT) future cut its stock price.

The Wall Street Journal reports that Microchip Technology submitted a slate of seven board nominees to Atmel (ATML).

The Wall Street Journal reports that GE (GE) may stop offering quarterly earnings forecasts.

The Wall Street Journal reports that US factories are slashing output.

The Wall Street Journal reports that Electrolux cut 5% of its workforce.

The Wall Street Journal reports that VW will sell its truck unit.

The Wall Street Journal reports that Honeywell’s (HON) forecast was cautious but not a disaster.

The New York Times reports that big oil projects are being hurt by falling crude and the recession.

The New York Times reports that trouble in Detroit may hurt its successful units overseas.

The New York Times reports that Russia devalued the ruble for the second time in one week.

The New York Times reports that GMAC is closer to its goal of becoming a bank.

Bloomberg reports that the new car czar may have the ability to force the auto firms into bankruptcy.

Bloomberg writes that the Fed may use its balance sheet as a new way to set economic policy.

Bloomberg writes that HSBC (HBC) may raise $14 billion to offset losses.

Douglas A. McIntyre