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Wednesday, August 16, 2006

Media Digest 8/16/2006 Reuters, WSJ, NYT


According to Reuters, Wal-Mart's profits were down on the sale of its German stores. Quarterly earnings fell 26% but the company maintained its full-year forecast.

Reuters writes that investors have sued BP's top executives accusing them of letting down investors by failing to maintain the company's Alaska pipeline.

Reuters says speculation about a merger of Sirius and XM continues and the drop in both stocks continue along with their huge losses.

The US government is reviewing all computer batteries made by Sony after Dell recalled laptops due to overheating and fires that the batteries can cause. Hewlett-Packard, Lenovo, and Sony also use the batteries in their laptops, according to Reuters.

The Wall Street Journal reports that some wireless companies including Verizon and Sprint Nextel are allowing advertising on their cell networks. The hope is that the small cell screens can eventually rival the internet for ad revenue.

The WSJ writes that raider Nelson Peltz has contacted the Chandler family, one of the largest owners of stock in The Tribune Company about breaking the corporation up.

Carl Icahn, who called for a break-up of Time Warner, has bought more shares in the company increasing his stake to 1.5% of the company, according to the WSJ.

The WSJ writes that satellite radion companies are losing investors. Several years ago, Sirius and XM said they needed 4 million subscribers each to break even. This has turned out not to be true as the companies continue to post huge loses. The companies are also losing listeners to devices like the iPod.

The New York Times writes that Google says it has no plans for a national WiFi network.

The New York Times reports that AMD is upgrading it Opteron chips to make them more powerful in its attempt to take more share from Intel in the server market. The new chips will make its easier to upgrade servers in the future as newer chips come out.

Douglas A. McIntyre

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