9/19/09 Sat. AT&T & VZ Hit by FCC Proposal

Post #115 The following is brought to you by Intellivest Securities Research, Inc. The following is not intended as advertising by a broker-dealer and is not a research report. Towards the end of this Blog is an update of the Dow 30's most recent SEC filings as of 9/18/09, a list of the Dow 30 CEO's and a ranking of the Dow 30 by market capitalization.

A read of Saturday's 9/18/09 print editions of: Wall Street Journal, Financial Times, New York Times, Atl Journal Const, the 9/28 issue of Business Week, the 10/5 issue of Forbes and other print magazines yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by symbol and Friday's closing price and related data:

Dow: WSJ pB1 "Consumer Stocks Push Dow Up 2.2% for Week" by Peter A. McKay and Donna Kardos Yesalavcih says consumer stocks led a modest rally on Fri. capping a second week of gains, as investors grew increasingly confident an economic recovery is under way. Procter & gamble rose 3.2% after Citigroup analysts upgraded their investment rating on the company's shares to buy from hold. The analysts cited PG's recent moves to reclaim market share for its products, which include Downey fabric softener and Ivory soap.

WSJ pB3 "Large Stock Focus - P&G, Home Depot Keep Rally Going" by Geoffrey Rogow says stocks finished a solid week moderately higher, as Procter & Gamble paced a rally consumer sector that included advances by Sarah Lee and Home Depot.

WSJ pB3 "A Week in the Life of the DJIA" lists the ranking of the Dow 30 and in the order of how their shares performed this past week. GE did the best being up 12.47% for the week and Verizon did the worst, being down 5.34% for the week.

NYT pB6 "Stocks & Bonds - After a Short Hiatus, Another Taste of Optimism" says investors popped the stock market's rally back in gear Friday after analyst upgrades increased optimism about the economy noting previously mentioned PG upgrade by Citi.

The Dow Jones Industrial Average closed Friday at 9820.2 up 36.28 or 0.37% from Thursday's close of 9783.92. For the week the Dow was up 214.79 or 2.23%. Of the 30 Dow Companies: 21 gained and 9 declined with the biggest loser being Caterpillar CAT $53.42 -0.47 0.87% 11,454,404 NYSE and the biggest gainer being Procter & Gamble PG $57.32 +1.79 3.22% 24,703,078 NYSE. The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged.

Friday's Dow Jones Industrial Average closing numerator was 1299.4 up 4.8 from Thursday's closing Dow numerator of 1294.60. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor. Now, if you divide the Dow numerator increase for today of 4.8 by the divisor you get 36.28, the increase in Thursday's Dow close.

The average closing price (the closing numerator divided by 30) of Friday's Dow Jones Industrial Average was 43.31 up 0.16 from Thursday's Dow Jones Industrial Average closing price of 43.15. The median closing price of Friday's Dow Jones Industrial Average was 39.86 down 0.12 from Thursday's Dow Jones median closing price of 39.98.

The highest closing price Friday again was IBM $1122.11 +0.23 0.19% 8,782,894 NYSE and the lowest closing price Friday again was Alcoa AA $14.06 +0.01 0.07% 33,495,302 NYSE.

The lowest volume Friday again was 3M MMM $74.62 -0.27 0.36% 4,154,226 NYSE and the highest volume again was Bank of Am BAC $17.63 +0.02 0.11% 152,325,080 NYSE.

If Friday morning before the market opened you had purchased $100 of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have made $480
($129,930 - $129,450)

AT&T T $27.05 +0.68 2.58% 47,142,677 NYSE: WSJ pA1 Lead Story "US Backs Google in Web Fight - FCC Proposal on Internet Traffic Is Seen as Boon for Consumers, Blow to Phone Firms" Amy Schatz and NYT pB3 "VCC Chairman Is Expected to Propose Neutrality Principles for the Internet" by Saul Hansell say the US gov plans to propose broad new Rules Mon. that would force Internet providers to treat all Web traffic equally, seeking to give consumers greater freedom to use their computers or cellphones to enjoy videos, music and other legal services that hog bandwith. The move is opposed by phone and cable companies like AT&T, Verizon and Comcast Corp. which don't want the gov telling them how to run their networks. Treating all Web traffic equally means carriers couldn't block or slow access to services or sites that are a drain on their networks or offered by rivals. The Obama administration is taking the side of Google, Amazon.com and other smaller businesses that want to profit from offering consumers streaming video, graphics rich games, movie and music down loads. Julius Genachowski, head of the FCC will make the proposal on Mon. In congested areas like NYC and San Fran., so many iPhones have caused many AT&T customers to complain about degrading service. At issue is the FCC's net neutrality principles which AT&T, VZ, Comcast and Sprint Nextel oppose expanding. This article is very important and should be read.

BW p81 "Inside Wall Street - Sprint- With or Without A Buyer" by Gene Marcial says there is speculation that Deutsche Telekom, which owns T-Mobile, is eyeing Sprint Nextel, giving Sprint's shares a boost. A deal would allow leverage agaisnt the two largest carriers Verizon and At&T and reduce price competition.

American Express AXP $34.77 -0.23 0.66% 16,900,648 NYSE: BW p38 "100 Best Global Brands - The Great Trust Offensive - Companies as diverse as McDonald's, Ford, and American Express are revamping their marketing to win back that most valuable of corporate assets" by David Kiley and Burt Helm, photos by Michael L. Abramson discusses how companies are dealing with protecting their brand with consumers who are growing more and more skeptical. AXP's efforts are discussed among other Dow 30 companies. Here are the global rankings at BW p50: 1 Coke; 2 IBM, 3 Miscrosoft, 4 GE, 5 Nokia, 6 McDonald's, 7 Google, 8 Toyota, 9 Intel, 10 Disney. AXP is ranked 22.

AA $14.06 +0.01 0.07% 33,495,302 NYSE: No mentions found.

Bank of Am BAC $17.63 +0.02 0.11% 152,325,080 NYSE: WSJ pB3 "Judge Throws Out Parmalat Lawsuits" by Chad Bray says a fed. judge dismissed lawsuits Fri. against BAC and Grant Thornton over the collapse into bankruptcy of Parmalat in '03.

BW p66 "Do Shareholder Class Actions Make Sense? Not when they extract payments from innocent shareholders and let fraudsters off the hook" by Michael Orey says the same scrutiny that Judge Rakoff applied to the SEC settlement against BAC should be applied to shareholder class action lawsuits.

BW p6 notes that Judge Rakoff set a Feb 1 trial date to further consider the facts behind the settlement.

BA $53.02 +0.14 0.26% 6,037,424 NYSE: No mentions found.

Caterpillar CAT $53.42 -0.47 0.87% 11,454,404 NYSE: BW p38 "100 Best Global Brands - The Great Trust Offensive - Companies as diverse as McDonald's, Ford, and American Express are revamping their marketing to win back that most valuable of corporate assets" by David Kiley and Burt Helm, photos by Michael L. Abramson discusses how companies are dealing with protecting their brand with consumers who are growing more and more skeptical. Here are the global rankings at BW p50: 1 Coke; 2 IBM, 3 Miscrosoft, 4 GE, 5 Nokia, 6 McDonald's, 7 Google, 8 Toyota, 9 Intel, 10 Disney. Caterpillar is ranked 66.

Chevron CVX $72.64 +0.67 0.93% 15,248,625 NYSE: WSJ p14 "Wall Street - Consumer companies and homebuilders lead the way" by Samantha Pearson says consumer groups and homebuilders pushed US stocks higher in choppy trade yesterday as investors shrugged off concerns over a pullback. Some energy stocks lost momentum yesterday as the oil price fell but Chevron gained 0.9%.

BW p68 "More Coverage for Domestic Partners" says the Human Rights Campaign did study measuring treatment to lesbian, gay, bisexual and transgender equality and XOm was the lone large company to score zero. while Chevron scored 100 and Walmart scored 40.

Cisco CSCO $23.4 +0.006 0.03% 51,277,485 NASDAQ-GS: BW p38 "100 Best Global Brands - The Great Trust Offensive - Companies as diverse as McDonald's, Ford, and American Express are revamping their marketing to win back that most valuable of corporate assets" by David Kiley and Burt Helm, photos by Michael L. Abramson discusses how companies are dealing with protecting their brand with consumers who are growing more and more skeptical. MSFT's efforts are discussed among other Dow 30 companies. Here are the global rankings at BW p50: 1 Coke; 2 IBM, 3 Miscrosoft, 4 GE, 5 Nokia, 6 McDonald's, 7 Google, 8 Toyota, 9 Intel, 10 Disney. Cisco is ranked 14.

Coke KO $53.76 +0.34 0.64% 47,179,687 NYSE: BW p38 "100 Best Global Brands - The Great Trust Offensive - Companies as diverse as McDonald's, Ford, and American Express are revamping their marketing to win back that most valuable of corporate assets" by David Kiley and Burt Helm, photos by Michael L. Abramson discusses how companies are dealing with protecting their brand with consumers who are growing more and more skeptical. KO's efforts are discussed among other Dow 30 companies. Discussed is KO's number one brand ranking in the world. Here are the global rankings at BW p50: 1 Coke; 2 IBM, 3 Miscrosoft, 4 GE, 5 Nokia, 6 McDonald's, 7 Google, 8 Toyota, 9 Intel, 10 Disney.

Disney DIS $28.44 -0.02 0.07% 13,358,264 NYSE: NYT pB1 "Film Chief At Disney Steps Down" by Brooks Barnes & Michael Cieply says the chairman of Walt Disney Studios, Dick Cook, announced his resignation late Friday as the division he had led for the last eight years struggled with profitability, creative focus and a shifting media landscape. Mr. Cook started at the Walt Disney Company 38 years ago as a theme park ride operator. Pressure has been mounting on Dis ceo, Robert A. Iger, to make a change at the studio for some time, A profitable period led by the "Pirates of the Caribbean" and "National Treasure" has been followed by disappointing movies such as "Confessions of a Shopaholic", "Bedtime Stories" and "G-Force". In the most recent quarter the studio lost $12 mil.

BW p38 "100 Best Global Brands - The Great Trust Offensive - Companies as diverse as McDonald's, Ford, and American Express are revamping their marketing to win back that most valuable of corporate assets" by David Kiley and Burt Helm, photos by Michael L. Abramson discusses how companies are dealing with protecting their brand with consumers who are growing more and more skeptical. Dis' efforts are discussed among other Dow 30 companies. Here are the global rankings at BW p50: 1 Coke; 2 IBM, 3 Miscrosoft, 4 GE, 5 Nokia, 6 McDonald's, 7 Google, 8 Toyota, 9 Intel, 10 Disney.

DD $33.74 +0.05 0.15% 6,790,066 NYSE: No mentions found.

ExxonMobil XOM $69.99 +0.15 0.21% 36,805,977 NYSE: BW p68 "More Coverage for Domestic Partners" says the Human Rights Campaign did study measuring treatment to lesbian, gay, bisexual and transgender equality and XOM was the lone large company to score zero. while Chevron scored 100 and Walmart scored 40.

GE $16.5 -0.16 0.96% 119,956,873 NYSE: NYT pB1 "Vivendi May Sell Its Stake In Universal" by Tim Arango says executives at GE say they believe that Vivendi, the French conglomerate, will exercise its right later this year to sell its stake in NBC Universal, a move that could lead to NBC Universal being spun off into a separate public company in 2010 (Note: there is a rare typo in the first sentence in this article, something you don't see much of in The New York Times.) While GE's ceo JeffreyR. Immelt, has said publicly that GE plans to stay in the media business, but a sale of Vivendi's 20% share of NBC Universal in the public market would give Ge more options if it chose to exit the tv and film business by selling its 80% stake.

WSJ pB3 "A Week in the Life of the DJIA" lists the ranking of the Dow 30 and in the order of how their shares performed this past week. GE did the best being up 12.47% for the week and Verizon did the worst, being down 5.34% for the week.

BW p38 "100 Best Global Brands - The Great Trust Offensive - Companies as diverse as McDonald's, Ford, and American Express are revamping their marketing to win back that most valuable of corporate assets" by David Kiley and Burt Helm, photos by Michael L. Abramson discusses how companies are dealing with protecting their brand with consumers who are growing more and more skeptical. DE's efforts are discussed among other Dow 30 companies. Here are the global rankings at BW p50: 1 Coke; 2 IBM, 3 Miscrosoft, 4 GE, 5 Nokia, 6 McDonald's, 7 Google, 8 Toyota, 9 Intel, 10 Disney.

Hewlett-Packard HPQ $46.15 +0.44 0.96% 18,001,006 NYSE: BW p38 "100 Best Global Brands - The Great Trust Offensive - Companies as diverse as McDonald's, Ford, and American Express are revamping their marketing to win back that most valuable of corporate assets" by David Kiley and Burt Helm, photos by Michael L. Abramson discusses how companies are dealing with protecting their brand with consumers who are growing more and more skeptical. HPQ's efforts are discussed among other Dow 30 companies. Here are the global rankings at BW p50: 1 Coke; 2 IBM, 3 Miscrosoft, 4 GE, 5 Nokia, 6 McDonald's, 7 Google, 8 Toyota, 9 Intel, 10 Disney. HPQ is rated 11.

Home Depot HD $28.23 +0.31 1.11% 15,231,992 NYSE WSJ pC3 "large Stock Focus - P&G, Home Depot Keep Rally Going" by Geoffrey Rogow says stocks finished a solid week moderately higher, as Procter & Gamble paced a rally consumer sector that included advances by Sarah Lee and Home Depot.

Intel INTC $19.56 +0.15 0.77% 51,539,724 NASDAQ-GS: Forbes p44 "The Not-So-Mighty Atom" by Lee Gomes says the lower price of Windows Vista netbooks from $300 to $500 is dueto using a new Intel chip called Atom but that chip also is causing most the the product's problems.

BW p8 "Elevated at Intel" says in the running to succeed CEO Paul Otellini are EVP Sean Maloney, Dadi Perlmutter, VP, and dx-CFO Andy Bryant who now heads Tech and MFG Grop. Pat Gelsinger left to be EMC Pres in a reshuffling of Intel. A picture of CEO Paul S. Otellini accompanies the article that shows him looking confident but calm as well - as if he is enjoying what he is doing.

BW p38 "100 Best Global Brands - The Great Trust Offensive - Companies as diverse as McDonald's, Ford, and American Express are revamping their marketing to win back that most valuable of corporate assets" by David Kiley and Burt Helm, photos by Michael L. Abramson discusses how companies are dealing with protecting their brand with consumers who are growing more and more skeptical. Intel's efforts are discussed among other Dow 30 companies. Here are the global rankings at BW p50: 1 Coke; 2 IBM, 3 Miscrosoft, 4 GE, 5 Nokia, 6 McDonald's, 7 Google, 8 Toyota, 9 Intel, 10 Disney.

IBM $122.11 +0.23 0.19% 8,782,894 NYSE: BW p38 "100 Best Global Brands - The Great Trust Offensive - Companies as diverse as McDonald's, Ford, and American Express are revamping their marketing to win back that most valuable of corporate assets" by David Kiley and Burt Helm, photos by Michael L. Abramson discusses how companies are dealing with protecting their brand with consumers who are growing more and more skeptical. IBM's efforts are discussed among other Dow 30 companies. Here are the global rankings at BW p50: 1 Coke; 2 IBM, 3 Miscrosoft, 4 GE, 5 Nokia, 6 McDonald's, 7 Google, 8 Toyota, 9 Intel, 10 Disney.

JPMorgan Chase JPM $44.95 -0.01 0.02% 35,742,744 NYSE: BW p38 "100 Best Global Brands - The Great Trust Offensive - Companies as diverse as McDonald's, Ford, and American Express are revamping their marketing to win back that most valuable of corporate assets" by David Kiley and Burt Helm, photos by Michael L. Abramson discusses how companies are dealing with protecting their brand with consumers who are growing more and more skeptical. Here are the global rankings at BW p50: 1 Coke; 2 IBM, 3 Miscrosoft, 4 GE, 5 Nokia, 6 McDonald's, 7 Google, 8 Toyota, 9 Intel, 10 Disney. JPMorgan is ranked 37.

Johnson & Johnson JNJ $60.78 +0.01 0.02% 13,283,447 NYSE: BW p38 "100 Best Global Brands - The Great Trust Offensive - Companies as diverse as McDonald's, Ford, and American Express are revamping their marketing to win back that most valuable of corporate assets" by David Kiley and Burt Helm, photos by Michael L. Abramson discusses how companies are dealing with protecting their brand with consumers who are growing more and more skeptical. Here are the global rankings at BW p50: 1 Coke; 2 IBM, 3 Miscrosoft, 4 GE, 5 Nokia, 6 McDonald's, 7 Google, 8 Toyota, 9 Intel, 10 Disney. Caterpillar is ranked 66. Johnson & Johnson is ranked 80.

Kraft KFT $26.73 +0.21 0.79% 12,407,443 NYSE: Forbes p96 ahs an article about Imperial Sugar by Christopher Helman mentions that among its customers are Kraft.

McDonalds MCD $57 +0.54 0.96% 13,132,048 NYSE: BW p38 "100 Best Global Brands - The Great Trust Offensive - Companies as diverse as McDonald's, Ford, and American Express are revamping their marketing to win back that most valuable of corporate assets" by David Kiley and Burt Helm, photos by Michael L. Abramson discusses how companies are dealing with protecting their brand with consumers who are growing more and more skeptical. MCD's efforts are discussed among other Dow 30 companies. Here are the global rankings at BW p50: 1 Coke; 2 IBM, 3 Miscrosoft, 4 GE, 5 Nokia, 6 McDonald's, 7 Google, 8 Toyota, 9 Intel, 10 Disney.

Merck MRK $31.88 -0.13 0.41% 18,236,878 NYSE: Forbes p74 "A New Look At Alzheimer's" quotes Merck VPRichard Hargreaves, says there is too much emphasis on blocking amyloid deposition and that Merck is working on drugs that battle a protein called tau that makes up the neurofibrillary tangles found in the neurons of Alzheimer's sufferers.

Microsoft MSFT $25.26 -0.04 0.16% 61,185,540 NASDAQ-GS: NYT pB2 Microsoft to Consider Shareholder Views on Salaries" says the board of MSFT approved a proposal on Fri. that will give shareholders the ability to vote every three years on executive pay starting with the annual meeting on Nov. 19, which vote will be nonbinding.

BW p20 "Cafe, Croissant, ET Windows 7" says MSFT will open a temporary cafe in Paris on Oct. 22 to create buzz for the global launch of its Windows 7 operating system on that day.

Related story BW p90 "Waht Could Make the Zune Zoom" by Stephen H. Wildstrom says MSFT's new high def rival to the iPod may become a great game player.

BW p38 "100 Best Global Brands - The Great Trust Offensive - Companies as diverse as McDonald's, Ford, and American Express are revamping their marketing to win back that most valuable of corporate assets" by David Kiley and Burt Helm, photos by Michael L. Abramson discusses how companies are dealing with protecting their brand with consumers who are growing more and more skeptical. MSFT's efforts are discussed among other Dow 30 companies. Here are the global rankings at BW p50: 1 Coke; 2 IBM, 3 Miscrosoft, 4 GE, 5 Nokia, 6 McDonald's, 7 Google, 8 Toyota, 9 Intel, 10 Disney.

Pfizer PFE $16.51 +0.19 1.16% 62,452,759 NYSE: Forbes p74 "A New Look At Alzheimer's" quotes Merck VPRichard Hargreaves, says there is too much emphasis on blocking amyloid deposition and that Merck is working on drugs that battle a protein called tau that makes up the neurofibrillary tangles found in the neurons of Alzheimer's sufferers. Story says Pfizer is working on an old allergy drug from Russia that showed promising results in treating Alzheimer's.

Forbes p60 "Gene Machine" by Matthew herper mentions Pfizer's work in this area.

Procter PG $57.32 +1.79 3.22% 24,703,078 NYSE: WSJ pB1 "Consumer Stocks Push Dow Up 2.2% for Week" by Peter A. McKay and Donna Kardos Yesalavcih says consumer stocks led a modest rally on Fri. capping a second week of gains, as investors grew increasingly confident an economic recovery is under way. Procter & gamble rose 3.2% after Citigroup analysts upgraded their investment rating on the company's shares to buy from hold. The analysts cited PG's recent moves to reclaim market share for its products, which include Downey fabric softener and Ivory soap.

WSJ pC3 "large Stock Focus - P&G, Home Depot Keep Rally Going" by Geoffrey Rogow says stocks finished a solid week moderately higher, as Procter & Gamble paced a rally consumer sector that included advances by Sarah Lee and Home Depot.

WSJ p14 "Wall Street - Consumer companies and homebuilders lead the way" by Samantha Pearson says consumer groups and homebuilders pushed US stocks higher in choppy trade yesterday as investors shrugged off concerns over a pullback. In the consumer staples sector, Procter & Gamble, that makes Gillette and Pantene, pushed the Dow to its highest level for the year, its shares rose 3.2% after Citigroup raised the stock to buy from hold and also lifted its price estimate to $66 from $54 and said PG was preparing to win back market share.

BW p75 "A P&G Rebound?" says shares of PG gained 4.2% on Sept 10 after it announced it expects product sales to grow 1% of 4% next quarter. PG's shares ahve deeclined 11% so far this year.

BW p38 "100 Best Global Brands - The Great Trust Offensive - Companies as diverse as McDonald's, Ford, and American Express are revamping their marketing to win back that most valuable of corporate assets" by David Kiley and Burt Helm, photos by Michael L. Abramson discusses how companies are dealing with protecting their brand with consumers who are growing more and more skeptical. PG's efforts are discussed among other Dow 30 companies. Discussed is the classic PG two step: spending huge sums to maintain share of voice, marketing speak for outspending rivals to drive brand awareness, and endlessly reminding consumers of the unique selling proposition, e.g. Tide won't fade colors. Here are the global rankings at BW p50: 1 Coke; 2 IBM, 3 Miscrosoft, 4 GE, 5 Nokia, 6 McDonald's, 7 Google, 8 Toyota, 9 Intel, 10 Disney. PG's Gillette is ranked 13.

MMM $74.62 -0.27 0.36% 4,154,226 NYSE: No mentions found.

TRV $47.37 -0.33 0.69% 8,609,675 NYSE: No mentions found.

UTX $62.82 +0.30 0.48% 6,394,618 NYSE: No mentions found.

Verizon VZ $29.59 +0.08 0.27% 43,366,381 NYSE: WSJ pA1 Lead Story "US Backs Google in Web Fight - FCC Proposal on Internet Traffic Is Seen as Boon for Consumers, Blow to Phone Firms" Amy Schatz says the US gov plans to propose broad new Rules Mon. that wold force Internet providers to treat all Web traffic equally, seeking to give consumers greater freedom to use their computers or cellphones to enjoy videos, music and other legal services that hog bandwith. The move is opposed by phone and cable companies like AT&T, Verizon and Comcast Corp. which don't want the gov telling them how to run their networks. Treating all Web traffic equally means carriers couldn't block or slow access to services or sites that are a drain on their networks or offered by rivals. The Obama administration is taking the side of Google, Amazon.com and other smaller businesses that want to profit from offering consumers streaming video, graphics rich games, movie and music down loads. Julius Genachowski, head of the FCC will make the proposal on Mon. In congested sreas like NYC and San Fran., so many iPhones have caused many AT&T customers to complain about degrading service. At issue is the FCC's net neutrality principles which AT&T, VZ, Comcast and Sprint Nextel oppose expanding. This article is very important and should be read.

WSJ pB3 "A Week in the Life of the DJIA" lists the ranking of the Dow 30 and in the order of how their shares performed this past week. GE did the best being up 12.47% for the week and Verizon did the worst, being down 5.34% for the week.

BW p81 "Inside Wall Street - Sprint- With or Without A Buyer" by Gene Marcial s ays there is speculation that Deutsche Telekom, which owns T-Mobile, is eyeing Sprint Nextel, giving Sprint's shares a boost. A deal would allow leverage agaisnt the two largest carriers Verizon and At&T and reduce price competition.

WalMart WMT $50.11 +0.15 0.3% 29,759,000 NYSE: BW p75 "Bolsa Boom" says Mexico's Bolsa Index hit a 15 month high on 9/15 after a big decline in Mexico's economy and quotes Citigroup analyst Eduardo Estrada Lopex who says Wal-Mart de Mexico, shold rise about 10%. Wal-Mart de Mexico's sahres make up about 14% of the Bolsa index.

BW p34 "Apps Trump Tunes At Apple - Music is less crucial as iPod sales ease and the company focuses on software" by Peter Burrows says sale of iPods are expected to be flat in the years ahead so Apple is shifting its focus to new kinds of content. Apple is the world's large music distributor, ahving passed Walmart stores in early '08.

BW p68 "More Coverage for Domestic Partners" says the Human Rights Campaign did study measuring treatment to lesbian, gay, bisexual and transgender equality and XOm was the lone large company to score zero. while Chevron scored 100 and Walmart scored 40.

Here are the latest SEC filings as of 9/17/09 other than ownership filings and, except for certain cases, I do not include third party shareholder proposals:

Symbol & Co. Name/Date of Filing/Form Filed/ Comments

T AT&T: 8/28/09 two 8K's, one: announcing it had reached agreement with the Communications Workers of America (on a new, three-year contract covering approximately 7,000 wireline employees (located across the U.S.) under the CWA Communications and Technologies contract, subject to approval by these employees. The second 8K said two subsidiaries of T provided redeemed certain long-term debt issues as of September 28, 2009.

Alcoa AA: 8/29/09 8K announcing that Alain J. P. Belda, executive Chairman of the Board of Directors of AA retired as an executive officer but is staying on as a director until April 23, 2010.

American Express AXP: 9/15/09 8K annoucing delinquency and write-off statistics for the lending portfolio of its U.S. Card Services operating segment for the months ended June 30, July 31 and August 31, 2009.

9/2/09 10Q;

Bank of Am BAC: 9/16/09 a free writing prospectus regarding issuance of $54 million in debt securities.

Boeing BA: 9/16/09 announcing that pursuant to a 1978 SEC settlement, BA informed the SEC of a change in its policy re the appointment of foreign consultants and to whom they report.

8/31/09 8K announcing the retirement of Scott E. Carson, Executive Vice President, President and Chief Executive Officer, Boeing Commercial Airplanes, effective January 1, 2010. Effective September 1, 2009, Mr. Carson will leave his current position and assume the role of Executive Vice President. Carson will be replaced by James F. Albaugh.

8/27/09 8K announcing a revised schedule for the 787 Dreamliner and a charge to third quarter earnings related to flight test aircraft.

Caterpiller CAT: 9/1509 8K announcing CAT and Navistar International Corporation (NYSE: NAV)formed a joint venture transaction resulting in a new company, NC2 Global LLC, to serve the global commercial truck market to be based in Chicago.

8/20/09 8K CAT filed Reg FD information concerning deliveries to users for its Machinery and Engines lines of business.

Chevron CVX: 8/6/09 10Q

Cisco CSCO: 9/11/09 10K

9/9/09 8K Cisco appointed Arun Sarin, former CEO of Vodafone Group Plc, to its Board of Directors. He will a $75,000 annual retainer, $2,000 per committee meeting attended, and 16,666 shares.

9/4/09 8K annoucing bonus payments for '09 fiscal year to: John T. Chambers, Chairman and Chief Executive Officer, $2,031,000; Frank A. Calderoni, Executive Vice President, Chief Financial Officer, $900,000; Wim Elfrink, Executive Vice President, Cisco Services and Chief Globalization Officer, $1,000,000; Randy Pond, Executive Vice President, Operations, Processes and Systems, $900,000; and Richard J. Justice, former Executive Vice President, Worldwide Operations and Business Development and current Executive Vice President – Executive Advisor, $750,000.

Coke KO: 7/30/09 10Q

Disney DIS: 9/16 Prospectus related to the takeover of Marvel.

8/31/09 8K announcing a merger between its subsidiary, Maverick Acquisition Sub, Inc., and its subsidiary, Maverick Merger Sub, LLC, a single member Delaware limited liability company and Marvel Entertainment, Inc.. As a result of the Merger, Marvel will become a wholly owned subsidiary of Disney. Each share of Marvel common stock will be converted into $30 in cash and 0.7452 shares of Disney common stock.

DuPont DD: 8/13/09 8K announcing Nicholas C. Fanandakis, age 53, Senior Vice President & Chief Financial Officer & Chief Executive effective September 1, 2009 with an increase in annual salary from $387,708 to $500,000 and target short-term incentive award for 2009 will increase from $328,500 to $464,100. Mr. Fanandakis was named to his current position, Group Vice President- Applied BioSciences, in January 2008. Prior to that, he was vice president and general manager- DuPont Chemical Solutions Enterprise from September 2003 through September 2006 and vice president- Corporate Plans from October 2006 through December 2007. Jeffrey L. Keefer, EVP and Chief Financial Officer, will remain EVP and transition from the position of Chief Financial Officer to assume leadership responsibility for the DD's Performance Coatings business, corporate strategy development, Information Technology and overall cost and working capital productivity efforts effective November 1, 2009. Richard R. Goodmanson, EVP and Chief Operating Officer will retire effective September 30, 2009.

ExxonMobil XOM: 8/5/09 10Q

GE: 8/4/09 8K GE reached a settlement with the SEC & consented to a judgment of a fine of $50 million relating to four accounting matters arising in 2002 - 2003: the application of SFAS 133 to GE’s since-discontinued commercial paper hedging program and, separately, to certain swap derivatives where fees were paid or received at inception; a change in accounting for profits on spare parts in the commercial aviation engine business; and certain year-end transactions in the Rail business.

Hewlett-Packard HPQ: 9/17/09 8K On 9/17/09 HPQ elected Marc L. Andreessen as a dierctor and chair of the Technology Committee of the Board. Andreessen is a co-founder and general partner of Andreessen Horowitz, a venture capital firm, and a co-founder and chairman of Ning, Inc., an online platform for people to create their own social networks. Andreessen co-founded Opsware Inc. & served as chief technology officer of America Online, Inc. and was a co-founder of Netscape Communications Corporation. Andreessen gets an retainer of $100,000, an annual equity retainer of $150,000, and $2,000 in cash for each Board meeting attended in excess of six per year. Mr. Andreessen also will be eligible to participate in the product matching portion of the HP Employee Giving Program under which each non-employee director may contribute up to $100,000 worth of HP products each year to a qualified charity by paying 25% of the list price of those products, with HP paying the remaining 75%. In addition, Mr. Andreessen will receive an annual retainer of $10,000 for service as the chair of the Technology Committee. HPQ also increased the number of HPQ directors from ten to eleven.

9/8/09 10-QA

9/4/09 10-Q

Home Depot HD: 9/3/09 10-Q

8/26/09 8K announcing amendments to their By-Laws dealing with resignations of directors.

Intel INTC: 9/16/09 An intranet article re the Stock Option Exchange Program.

9/15/09 8K Intel is consolidating all of its major product divisions into the newly formed Intel Architecture Group, which will be co-managed by Sean Maloney and David (Dadi) Perlmutter, executive vice presidents. Maloney will be responsible for business and operations while Perlmutter will lead product development and architecture. Paul Otellini, CEO, will devote more time to corporate strategy and driving the company’s growth initiatives. Intel’s global manufacturing organization, the Technology and Manufacturing Group will now report to Andy Bryant, Intel’s chief administrative officer. Pat Gelsinger and Bruce Sewell, General Counsel, will leave INTC.

8/28/09 8K announcing that as a result of stronger than expected demand for microprocessors and chipsets, Intel now expects revenue for the third quarter to be $9.0 billion, plus or minus $200 million, as compared to the previous range of $8.5 billion, plus or minus $400 million. The gross margin percentage for the third quarter is expected to be in the upper half of the previous range of 53 percent, plus or minus two percentage points. The company is scheduled to report its third-quarter financial results on Oct. 13.

IBM: 9/8/09 8K IBM representatives will be meeting with a number of institutional investors through mid-September.

7/28/09 10Q

JPMorganChase JPM: 9/17/09 prospectus reReverse Exchangeable Notes due December 21, 2009 Linked to Eight Equally Weighted Reference Stocks and in preceding days there were similar prospectuses.

9/2/09 Free Writing Prospectus relating to Core commodity C-IGAR Sigma Long-Short Index

Johnson & Johnson JNJ: 8/4/09 10Q

Kraft KFT: 9/9/09 prospectus relating to Kraft's bid to take over Cadbury that was announced on 9/7/09.

9/9/09 8K announcing a strategic update, including a review of the company’s successful three-year turnaround plan.

8/5/09 10Q

McDonalds MCD: 9/9/09 8K announcing that global comparable sales rose 2.2% in August and by segment performance was as follows: U.S. up 1.7%; Europe up 3.5%; andAsia/Pacific, Middle East and Africa declined 0.5%.

8/11/09 re: press release "McDonald’s Reports Global Comparable Sales Up 4.3% in July"

Merck MRK: 8/3/09 Sched 14A proxy material re: updated of acquisition of Schering-Plough

Microsoft MSFT: 9/11/09 8K James Cash to retire from Board of Directors. The
Harvard Business School professor and senior associate dean emeritus had served on the board since 2001. With Cash’s departure, the Microsoft board will have nine members: Bill Gates, chairman of Microsoft; Steve Ballmer; Dina Dublon, former chief financial officer of JPMorgan Chase; Raymond V. Gilmartin, former chairman, president and chief executive officer of Merck & Co. Inc.; Reed Hastings, founder, chairman and CEO of Netflix Inc.; Maria M. Klawe, president, Harvey Mudd College; David F. Marquardt, general partner at August Capital; Charles H. Noski, former vice chairman of AT&T Corp.; and Dr. Helmut Panke, former chairman of the board of management at BMW AG.

8/24/09 S-8 Securities to be offered to employees in employee benefit plans

Pfizer PFE: 9/2/09 8K announcing an agreement with the U.S. Department of Justice to settle an investigation regarding off-label promotional practices related to Bextra, which Pfizer withdrew from the market in 2005 and other DOJ investigations involving off-label promotional practices concerning Zyvox, Geodon and Lyrica, and allegations related to payments to healthcare professionals involving these and nine other Pfizer medicines. Pfizer previously disclosed a related $2.3 billion charge to its fourth-quarter and full-year 2008 earnings in connection with the DOJ agreement in principle on January 26, 2009. PFE has reached agreements with attorneys general in 432 states to settle state civil consumer protection allegations regarding promotional practices concerning Geodon. PFE will pay a total of $33 million to the settling states.

Procter & Gamble PG: 9/10/09 8K confirmed its fiscal year 2010 and July – September quarter outlook for organic sales growth. The company also stated it expects to return to organic sales growth in the October – December quarter compared to prior year levels, following two quarters of organic sales declines. P&G also updated earnings per share guidance to include the anticipated impacts from the Pharmaceutical divestiture, which was announced on August 24, 2009. For fiscal year 2010, P&G confirmed previous guidance for organic sales growth of one to three percent. P&G expects net sales in the range of flat to up three percent versus prior year levels, which includes a foreign exchange impact of zero to minus one percent. P&G now expects fiscal 2010 earnings per share in the range of $3.99 to $4.12 per share. This includes a one-time net increase in earnings of $0.44 per share from the sale of the Pharmaceutical business, which will be partially offset by $0.10 to $0.12 per share of earnings dilution related to the transaction.

8/28/09 S-8 Securities to employees and 8/28 8K annoucning public offering of $500,000,000 aggregate principal amount of 3.150% Notes due 2015.
Also a PG subsidiary, Procter & Gamble International Funding SCA issued $1,000,000,000 aggregate principal amount of 1.350% Notes due 2011.

3M MMM: 8/5/09 3M contributed 8,329,862 shares of its common stock with a corresponding dollar value of approximately $600 million to its defined benefit pension plan, the 3M Employee Retirement Income Plan, made from treasury stock.

Travelers TRV: 8/5/09 10Q/A Amended 10Q

United Technologies UTX: 7/24/09 10Q

Verizon Communications Inc. VZ: 9/10/09 8K announcing VZ's cash flow and balance sheet are strong, and VZ recently increased its dividend for the third consecutive year. VZ is not planning for any economic improvements in the second half of 2009. Verizon expects that economic conditions will continue to pressure revenues and margins in the second half of 2009, particularly in its Wireline segment. VZ expects to add one million wireless customers per quarter for the next several quarters.
o The company expects to achieve its stated Alltel cost synergy targets & greater cash flow from operations in the second half of 2009 compared to the first half of 2009.

9/4/09 8K VZ raised its quarterly dividend 3.3% to 47.5 Cents per Share. This is the third consecutive year that VZ has approved a quarterly dividend increase in September.

9/4/09 8K annoucning retirement of Dennis F. Strigl, President and Chief Operating Officer of Verizon Communications Inc.

Wal-Mart WMT: 9/14/09 Prospectus re debt securities of $364,600,000

9/9/09 10Q

8/13/09 8K re 7/31/09 2Q report of earnings

Here are the CEOs of the Dow 30 Companies:

T Randall L. Stephenson
AA Klaus Kleinfeld
AXP Kenneth I. Chenault
BAC Kenneth D. Lewis
BA W. James McNerney, Jr.
CAT James W. Owens
CVX David O'Reilly
CSCO John Chambers
KO Muhtar Kent
DIS Rogert Iger
DD Nicholas C. Fanandakis replaced Ellen Kullman 9/1/09
XOM Rex W. Tillerson
GE Jeffrey R. Immelt
HPQ Mark Hurd
HD Frank Blake
INTC Paul S. Otellini
IBM Samuel J. Palmisano
JPM Jamie Dimon
JNJ William C. Weldon
KFT Irene Rosenfeld
MCD Jim Skinner
MRK Robert Clark
MSFT Steve Ballmer
PFE Jeffrey Kindler
PG Bob McDonald
MMM George W. Buckley
TRV Jay S. Fishman
UTX Louis Chenevert
VZ Ivan Seidenberg
WMT Mike Duke

Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest billion as of 9/16/09:

1. Exxon Mobil XOM $345
2. Microsoft MSFT 225
3. WalMart WMT 193
4. GE 180
5. JPMorgan Chase 167
6. Johnson & Johnson JNJ 166
7. IBM 163
8. Procter & Gamble PG 161
9. AT&T T 156
10. Chevron CVX 145
11. Cisco CSCO 135
12. Coke KO 122
13. Pfizer PFE 111
14. Intel INTC 110
15. Bank of Am BAC 110
16. Hewlett-Packard HPQ 109
17. Verizon VZ 86
18. Merck MRK 68
19. McDonald's MCD 62
20. United Technologies UTX 58
21. Disney DIS 53
22. 3M MMM 53
23. Home Depot 48
24. American Express AXP 42
25. Kraft KFT 39
26. Boeing BA 38
27. Caterpillar CAT 33
28. DuPont DD 31
29. Traveler's TRV 28
30. Alcoa AA 14