Media Digest 12/30/2008 Reuters, WSJ, NYTimes, FT, Bloomberg (GM)(TM)(HMC)(DOW)(F)

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According to Reuters, GMAC will get $6 billion from the government with $1 billion coming through GM (GM).

Reuters reports that violence in Gaza intensified.

Reuters writes that Japan is looking at a program to buy bad loans.

Reuters writes that Dow Chemical (DOW) is scrambling to keep it deal to buy Rohm & Hass for $15 billion alive.

Reuters reports that Kirk Kerkorian sold his Ford (F) shares at a large loss.

Reuters reports that a survey or restructuring professionals said that the auto industry will be the most troubled sector next year.

Reuters reports that the Lehman bankruptcy wiped out billions of dollars.

Reuters reports that bad holiday sales are weighing on mall owners.

The Wall Street Journal reports that banks are headed for their first overall quarterly loss since 1990.

The Wall Street Journal reports that airlines are having surprising success raising money.

The Wall Street Journal reports that Ford will be building self-parking vehicles.

The Wall Street Journal reports that three companies have emerged as buyers for IndyMac.

The Wall Street Journal reports that Dell (DELL) reached its environmental goal of being "carbon neutral".

The Wall Street Journal reports that the IMF supports that Obama stimulus plan.

The Wall Street Journal reports that the cost to make the Sony (SNE) PS3 has dropped by a third.

The Wall Street Journal reports that internet providers are joining the Obama plan to build out more broadband.

The Wall Street Journal reports that figures for October are expected to show another drop in housing prices.

The Wall Street Journal reports that an improvement in consumer confidence means little if it is not accompanied by spending.

The Wall Street Journal reports that the SEC revised its energy reserves rule.

The Wall Street Journal writes that the Kuwait decision to end a relationship with Dow Chemical (DOW) may hurt foreign investment in the country.

The Wall Street Journal writes that more CEOs are taking commercial flights.

The Wall Street Journal reports that a poor economy is hurting the outsourcing business.

The New York Times reports that Russia’s huge Gazprom gas monopoly is in trouble.

The New York Times reports that as the US buys less from China, Germany suffers because of its business with the world’s most populated country.

The New York Times reports that TV networks are doing relatively well because they can still provide large audiences.

The FT argues that the IMF is arguing for countries to increase their stimulus packages.

The FT reports that there will be a huge crack down on hedge funds due to Madoff.

The FT reports that retailers face an extremely hard 2009

Bloomberg reports that the Japanese economy could shrink 12% this quarter.

Bloomberg reports that Toyota (TM) and Honda (HMC) may end "just in time" inventory as their suppliers suffer.

Douglas A. McIntyre