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Friday, November 17, 2006

Media Digest 11/17/2006 Reuters, Wall Street Journal, New York Times


According to Reuters, Delta is seeking the help of its creditors to fight off a bid by Delta Airlines to acquire the bankrupt carrier.

Reuters writes that the CEO of Qualcomm stated that investors in the company support its intellectual property legal fight although it has depressed the price of the company's stock.

Reuters, writes that DaimlerChrysler is still in talks with Chinese car manufacturer Cherry about building a subcompact car.

Reuters writes that HP profits went up four-fold due to year ago charges. Revenues rose 7% and beat estimates.

The Wall Street Journal reports that Sear Holding's profits tripled due to investments. Sales at its Sears and K Mart units were weak.

The Wall Street Journal also writes that a study by Harvard and Cornell indicates that 850 CEOs of public companies received incorrectly dated options which increased their pay an average of over 10%.

The New York Times reports that oil hit its lowest price in a year as the markets doubted the impact of OPEC production cuts.

The New York Times also writes that the profit as Starbuck's fell 5% due to new accounting methods. Revenue rose 20% to $2 billion.

Douglas A. McIntyre

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