9/23/09 pm Wed Dow Closes at 9748.55 down 81.32 or 0.83%

The following is not intended as advertising by a broker-dealer and is not a research report.

Post #123 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.

The Dow Jones Industrial Average closed Wednesday at 9748.55 down 81.32 or 0.83% from Tuesday's close of 9829.87. Of the 30 Dow Companies: 4 gained, 25 declined and Merck was unchanged (MRK $31.33 vol: 20,465,639 NYSE) with the biggest loser being JPM $45.06 -1.41 3.03% 34,344,277 NYSE and the biggest gainer being AT&T T $27.13 +0.63 2.38% 53,178,316 NYSE.

The current divisor for the Dow found at today's page C4 of The Wall St. Jrnl is .132319125 unchanged. Wednesday's Dow Jones Industrial Average closing numerator was 1289.92 down 10.76 from Tuesday's closing Dow numerator of 1300.68. 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 decrease for today of 10.76 by the divisor you get 81.32, the decrease in Wednesday's Dow close.

The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones Industrial Average was 43.00 down 0.36 from Tuesday's Dow Jones Industrial Average closing price of 43.36. The median closing price of Wednesday's Dow Jones Industrial Average was 39.33 down 0.89 from Tuesday's Dow Jones median closing price of 40.22.

The highest closing price Wednesday again was IBM $120.82 -0.79 0.65% 5,529,670 NYSE and the lowest closing price Wednesday again was Alcoa AA $14.14 -0.12 0.84% 24,096,613 NYSE.

The lowest volume Wednesday again was 3M MMM $74.42 -0.55 0.73% 3,340,734 NYSE and the highest volume again was Bank of Am BAC $17.5 -0.11 0.62% 197,468,172 NYSE.

If Wednesday 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 lost $1,080.
($130,080 - $129,000)

Wednesday's Closing Dow closing numbers:
Symb/Last/Change/% Change/Vol./Market

T $27.13 +0.63 2.38% 53,178,316 NYSE
AA $14.14 -0.12 0.84% 24,096,613 NYSE
AXP $33.6 -0.37 1.09% 10,384,474 NYSE
BAC $17.5 -0.11 0.62% 197,468,172 NYSE
BA $52.37 -0.77 1.45% 4,605,281 NYSE
CAT $53.14 -1.20 2.21% 9,584,710 NYSE
CVX $71.37 -1.26 1.73% 9,826,275 NYSE
CSCO $22.8 -0.61 2.61% 68,053,913 NASDAQ-GS
KO $52.58 -0.27 0.51% 10,382,654 NYSE
DIS $28.08 -0.30 1.06% 10,965,864 NYSE
DD $33.13 -0.57 1.69% 6,146,614 NYSE
XOM $69 -0.83 1.19% 20,860,487 NYSE
GE $17 -0.01 0.06% 133,951,684 NYSE
HPQ $46.93 -0.08 0.17% 15,969,296 NYSE
HD $27.35 -0.27 0.98% 13,959,083 NYSE
INTC $19.88 +0.35 1.79% 72,078,984 NASDAQ-GS
IBM $120.82 -0.79 0.65% 5,529,670 NYSE
JPM $45.06 -1.41 3.03% 34,344,277 NYSE
JNJ $60.77 -0.31 0.51% 11,163,315 NYSE
KFT $26.28 -0.21 0.79% 11,280,234 NYSE
MCD $55.54 -0.27 0.48% 8,553,836 NYSE
MRK $31.33 unch unch 20,465,639 NYSE
MSFT $25.71 -0.06 0.23% 60,544,419 NASDAQ-GS
PFE $16.43 -0.37 2.2% 47,937,787 NYSE
PG $57.25 +0.01 0.02% 14,383,788 NYSE
MMM $74.42 -0.55 0.73% 3,340,734 NYSE
TRV $47.29 -0.30 0.63% 4,953,444 NYSE
UTX $62.74 -0.49 0.77% 4,694,750 NYSE
VZ $29.88 +0.37 1.25% 24,180,324 NYSE
WMT $50.4 -0.59 1.16% 13,998,029 NYSE

The following appeared in Wednesday morning's blog:

A read of Wednesday's 9/23/09 print editions of: Wall Street Journal, Financial Times, Investors Business Daily, New York Times, Atl Journal Const, & USA Today 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 Thursday's closing price and related data:

Dow:

Fin Times p17 "Dow Jones to close Far Eastern Review" by Justine Lau, this was reported in this Blog yesterday.

AT&T T $26.5 -0.37 1.38% 27,073,071 NYSE: Fin Times p16 "Facebook to form alliance with Nielsen" by Alan Rappeport, David Gelles says Facebook will form a partnership with Nielsen, the market research company, in an effort further to legitimize itself as a mainstream ad platform. The deal will enable Facebook to offer advertisers more info about how users are responding to ads on the largest social network int he world, with 300 mil users. The move comes as Nielsen faces a challenge from a consortium that threatens its role as the dominant force in tv audience measurement that include NBC Univesal (owned by GE), Time Warner, News Corp, Procter & Gamble, AT&T and Unilever.

Alcoa AA $14.26 +0.32 2.3% 36,709,467 NYSE: WSJ pC5 "Alcoa, Caterpillar, CarMax Pace Gains" by Geoffrey Rogow says all 3 major stock indexes pushed back up to near their highest closes in roughly a year as weakness in the dollar sparked more broad buying in Alcoa, Caterpillar, Peabody Energy and other global energy, materials and industrial companies. Part of the catalyst has been improving global economic sentiment, which has been coupled with a flood out of safer assets, including the US currency. Banks were strong ahead of the Fed's interest rate decision today, wtih JPM closing up 4.3%

AXP $33.97 +0.21 0.62% 12,142,397 NYSE: No mentions found.

Bank of America BAC $17.61 +0.36 2.09% 157,532,344 NYSE: WSJ pD2 "Common Sense - BofA Should Ditch the Reticence: Merrill Was a Deal Worth Touting" by James B. Stewrt says BAC shold respond to NY AG Andrew Cuomo's and SEC's criticism by not being so defensive about its acquisition of Merrill Lynch. Even though BofA overpaid for Merrill with hindsight, no one knew that at the time and the deal made strategic sense. He says that as long as the mystery continues, Bank of America will keep landing on the front page as disclosures dribble out. I say amen to that - think about it - ExxonMobil is by far the largest cap component on the Dow at about $345 bil (by comparison, MSFT, is number 2 at approx. $225) - yet BofA, according to my aggregation analysis, must be mentioned 7 times as much as ExxonMobil weekly in the financial print media. Enough already! (but, of course, I will continue to mention BAC everywhere I spot a mention).

Fin Times p14 "Bank of America" says BAC has agreed to pay the US gov $425mil to lay to rest a $118bil asset guarantee program and this has resulted in criticism from taxpayers that the US gov is getting abad deal. But the unnamed author says it is not a bad deal for the gov.

NYT pB1 "Chae and BofA Revise Overdarft Fee Policies" by Ron Lieber says BofA and JPM said they would overhaul their debit card programs by lowering or eliminating fees, changing the way they credit transactions and allowing customers to opt out of overdraft protection.

BA $53.14 +0.28 0.53% 3,897,695 NYSE: No mentions found.

Caterpillar CAT $54.34 +1.88 3.58% 11,103,882 NYSE: WSJ pC5 "Alcoa, Caterpillar, CarMax Pace Gains" by Geoffrey Rogow says all 3 major stock idnexes pushed back up to near their highest closes in roughly a year as weakness in the dollar sparked more broad buying in Alcoa, Caterpillar, Peabody Energy and other global energy, materials and industrial companies. Part of the catalyst ahs been improving global economic sentiment, which has been coupled with a flood out of safer assets, including the US currency. Banks were strong ahead of the Fed's interest rate decision today, wtih JPM closing up 4.3%.

Chevron CVX $72.63 +0.58 0.8% 7,075,611 NYSE: Fin Times D24 "Boost for energy and materials but investors cautious" by Samantha Pearson say Wall Street crept up to fresh highs for the year yesterday after the weak dollar prompted a rally in commodity stocks. But investors were cautious ahead of the statement expected today from the US Fed Reserve after its 2 day monetary policy meeting. ExxonMobil was up 0.4% and Chevron gained 0.8%. Bofa gained 2.1% and JPM was up 4.3%.

Cisco CSCO $23.41 -0.22 0.93% 34,921,819 NASDAQ-G: WSJ pC1 "Accounting Shift to Lift Tech Firms' Profit, Sales" says accounting regulators are poised to approve a rule change that could life the earning of tech companies. The change is an attempt by accounting rule makers to keep up with complicated products that bundle hardware, software and services. The rules will have their biggest impact on products that include software and hardware such as smartphones and are expected to be approved Wed by the Financial Accounting Standards Board. Now when a company sells devices like these, it gets the cash up front, but can only book the rev and profits from the sale over the length of a product's life. The new rules will let the copanies book much more of the rev when the product is sold. Cisco Systems, IBM, Hewlett-Packard were among those who supported the new rules.

Coke KO $52.85 -0.15 0.28% 9,735,828 NYSE: WSJ pB3 "Suntory of Japan Makes Binding Offer to Acquire Orangina" by Marietta Cauchi says Blackstone Group and Lion Capital received a binding offer for Orangina Schweppes Group from Japanese drinks giant Suntory Holdings for $3.82 bil. The deal is subject to antitrust clearance. Orangina also sells La Casera in Spain and Rosinka in Ukraine and had '08 revs of $1.5bil. Based in a Paris suburb, Orangina is the No. player in the European still soft-drink market after Coca Cola and the No. 3 palyer in the European carbonated soft drinks market after Coke and PepsiCo Inc.

WSJ pC2 "StanChart Prepares to List in India" by Amol Sharma, John Satish Kumar says UK financial services copany Standard Chartered PLC will become the first foreign company to list its shares on an Indian stock exchange. Several other large foreign firms have the scale in India to do an Indian Depositary Receipts on the National Stock Exchange of India and the Bombay Stock Exchange and potentially include Coke and IBM.

DIS $28.38 +0.38 1.36% 9,497,970 NYSE: No mentions found.

DD $33.7 -0.08 0.24% 6,833,032 NYSE: No mentions found.

ExxonMobil XOM $69.83 +0.26 0.37% 14,551,782 NYSE: Fin Times D24 "Boost for energy and materials but investors cautious" by Samantha Pearson say Wall Street crept up to fresh highs for the year yesterday after the weak dollar prompted a rally in commodity stocks. But investors were cautious ahead of the statement expected today from the US Fed Reserve after its 2 day monetary policy meeting. ExxonMobil was up 0.4% and Chevron gained 0.8%. BofA gained 2.1% and JPM was up 4.3%.

GE $17.01 +0.25 1.49% 95,709,530 NYSE: Fin Times p14 "Vivendi/NBC Univesal talks about speculation as to whether Vivendi will sells its 20% stake in NBC Universal. GE owns the balance. The itme says there are good reasons to sell now because Vivendi needs the cash.

Fin Times p16 "Facebook to form alliance with Nielsen" by Alan Rappeport, David Gelles says Facebook will form a partnership with Nielsen, the market research company, in an effort further to legitimize itself as a mainstream ad platform. The deal will enable Facebook to offer advertisers more info about how users are responding to ads on the largest social network int he world, with 300 mil users. The move comes as Nielsen faces a challenge from a consortium that threatens its role as the dominant force in tv audience measurement that include NBC Universal (owned by GE), Time Warner, News Corp, Procter & Gamble, AT&T and Unilever.

Hewlett-Packard HPQ $47.01 +0.66 1.42% 14,328,326 NYSE: NYT pB1 lead story "A difficult Combination - HP's Switch to Services Seems Successful, But Workers Pay Dearly" by Ashlee Vance says after Hewlett-Packard bought Electronic Data Systems last Aug. for $13.9 bil, it began hacking the work force. Led by master cost cutter, HPQ ceo, Mark V. Hurd, laid off 25,000 EDS workers and cut the salaries of some by more than 20%. All this has paid off for HPQ and may have motivated Dell to bid $3.9 bil for Perot systems.

WSJ pB1 "PC Makers Cultivate Buyers in Rural China" by Loretta Chao says as demand for PCs remains weak across the globe,top manufacturers like hewlett-Packard and Lenovo Group are zeroing in on one largely untapped but growing market: rural China. They are aggressively expanding their sales networks in China's countryside, where over half of China's populaiton resides and broadband access in creasing, but where the average per capita annual income is only $700. They are aided by a $586 bil gov subsidy program by encouraging spending in rural areas. HPQ's market share in China is 14% and has 7,000 stores and 10,000 resale partners in China.

WSJ pC1 "Accounting Shift to Lift Tech Firms' Profit, Sales" says accounting regulators are poised to approve a rule change that could life the earning of tech companies. The change is an attempt by accounting rule makers to keep up with complicated products that bundle hardware, software and services. The rules will have their biggest impact on products that include software and hardware such as smartphones and are expected to be approved Wed by the Financial Accounting Standards Board. Now when a company sells devices like these, it gets the cash up front, but can only book the rev and profits from the sale over the length of a product's life. The new rules will let the companies book much more of the rev when the product is sold. Cisco Systems, IBM, Hewlett-Packard were among those who supported the new rules

Home Depot HD $27.62 -0.52 1.85% 14,237,204 NYSE: WSJ pB4 "Lowe's Scales Back Expansion - Home-Improvement Retailer Sees Sales rising Modestly" by Mary Ellen Lloyd says Lowe's gave a cautious earnings outlook for next year, though it expects same store sales to rise after three years of decline. Lowe's will slow store openings over the next five years to between 35 and 45 stores annually. Larger rival Home Depot has already pulled back its expansion, with plans to add 1.5% in retail square footage this year and annually for the next several years. Lowe's will add 2% to 2.5% in its square footage annually.

Intel INTC $19.53 -0.01 0.05% 38,136,252 NASDAQ-GS: WSJ pB3 "Intel Sees Market for PCs Stabilizing This year - Chip Giant Lays Out Strategy to Boaden market for Its Atom Microprocessor Beyond Low-End Laptops" by Don Clark says Intel's ceo, Paul S. Otellini said he expects PC unit sales for the year will end their declines and be flat to slightly up before Intel's annual forum for tech developers at San Fran. Intel used the forum to announce an effort to help chip customers set up their own claering houses to distribute programs for a variety of gadgets as part of its strategy to promote the use of chips outside computer markets. Intel's plan is to make it easier for apps which are normally targeted at a single operating system, to run on Atom based devices that use either Microsoft's Windows or an Intel backed operating system known as Moblin. MSFT said it will assist by adapting its Silverlight software, which adds video and animation to Web sites, to work with Moblin. I can't decide if the picture of Paul Otellini that accompanies the article amkes him look more like a knife salesman in the middle of a demo or a magician at a corporate event.

IBM $121.61 +0.04 0.03% 4,745,348 NYSE: WSJ pB6 "IBM Markets Wares to Africa - Targets Region With Low-Cost Software, Challenging Microsoft" by William M Bulkeley says IBM will sell low priced computer desktop applications to companies and govs in Africa challenging Microsoft and other rivals in the region. IBM has been pushing into developing markets like Africa and Asia as mature markets slow. The package includes basic programs like word processing and email and would be available via remote cloud computing facilities, meaning users could access the programs from the Web for $10 per month and could run on netbooks or low cost PCs.

WSJ pC1 "Accounting Shift to Lift Tech Firms' Profit, Sales" says accounting regulators are poised to approve a rule change that could life the earning of tech companies. The change is an attempt by accounting rule makers to keep up with complicated products that bundle hardware, software and services. The rules will have their biggest impact on products that include software and hardware such as smartphones and are expected to be approved Wed by the Financial Accounting Standards Board. Now when a company sells devices like these, it gets the cash up front, but can only book the rev and profits from the sale over the length of a product's life. The new rules will let the copanies book much more of the rev when the product is sold. Cisco Systems, IBM, Hewlett-Packard were among those who supported the new rules.

WSJ pC2 "StanChart Prepares to List in India" by Amol Sharma, John Satish Kumar says UK financial services copany Standard Chartered PLC will become the first foreign company to list its shares on an Indian stock exchange. Several other large foreign firms have the scale in India to do an Indian Depositary Receipts on the National Stock Exchange of India and the Bombay Stock Exchange and potentially include Coke and IBM.

JPMorgan Chase JPM $46.47 +1.92 4.31% 41,034,632 NYSE: WSJ pC1 "Blue Chips Rally 51.01, 50% off Low" by Peter A. McKay, Donna Kardos Yesalavich says stocks resumed their push higher, and the dollar tumbled, as investors went back to betting on global economic recovery while they awaited news from the Fed Reserve's interest rate committee. After losing 41 point Monday, the Dow closest at its highest since last Oct. 6. J.P. Morgan Chase led the gains, up 4.3%.

WSJ pC5 "Alcoa, Caterpillar, CarMax Pace Gains" by Geoffrey Rogow says all 3 major stock idnexes pushed back up to near their highest closes in roughly a year as weakness in the dollar sparked more broad buying in Alcoa, Caterpillar, Peabody Energy and other global energy, materials and industrial companies. Part of the catalyst ahs been improving global economic sentiment, which has been coupled with a flood out of safer assets, including the US currency. Banks were strong ahead of the Fed's interest rate decision today, wtih JPM closing up 4.3%.

WSJ pD2 "Chase Offers Small Business Cards" by Jane J. Kim says on Wed, JPM's Chase Card Services plans to launch four cards aimed at small business owners, including a charge card that would require customers to pay in full each month.

NYT pB1 "Chae and Bofa Revise Overdarft Fee Policies" by Ron Lieber says BofA and JPM said they would overhaul their debit card programs by lowering or eliminating fees, changing the way they credit transactions and allowing custoemrs to opt out of overdraft protection.

JNJ $61.08 +0.41 0.68% 9,993,766 NYSE: No mentions found.

Kraft KFT $26.49 -0.26 0.97% 10,587,808 NYSE: Fin Times p17 "Stock offer complicates Kraft bid for Cadbury - The small cash component has not been well received by investors" by Jenny Wiggins, Jule MacIntosh compares the kaft's attempt to buy Cadbury with last year's takeover of Anheuser-Bush by InBev, which was the US's biggest brewer, the maker of Budweiser. A key difference was that InBev made an all cash offer, while Kraft's is almost 2/3 stock.

WSJ pC16 "Cadbury's Push for Action" says Cadbury has asked the UK Takeover Panel to give Kraft a deadline to put up a formal takeover offer. Cadbury's shares are at 790 pence and Kraft's offer is worth 724 pence.

Similar story at Fin Times p14.

MCD $55.81 -0.33 0.59% 8,010,381 NYSE: No mentions found.

MRK $31.33 -0.49 1.54% 13,755,590 NYSE: No mentions found.

Microsoft MSFT $25.77 +0.47 1.86% 61,309,553 NASDAQ-GS: WSJ pD1 "Microsoft Packs The New Zune HD With Bells, "Whistles And Plenty of Sytle" by Katherine Boehret who says finally MSFT has made a portable media player that you can be proud to carry around - the Zune HD.

WSJ pB5 "Yahoo Sets Ad Campaign to Lure Back Web Users" by Jessica E. Vascellaro, Emily Steel says Yahoo announced a $100 mil global ad campaign touting how it can help consumers personalize their online experience in order to remake the struggling Internet company. In July Yahoo agreed to use tech from MSFT for its serch engine, raising the question of what Yahoo would focus on instead. yahoo remains a leder in selling display, or graphical ads, online.

Similar story at Fin Times p16 by Joseph Menn.

WSJ pB5 "Ford Tags Up With Microsoft on Ads" says Ford is using a MSFT tech known as "tags" to promote the Taurus. The black and white digital fingerprints are integrated into the print ads and can be photographed with a smart phone. the image then links consumers to a Web site with video clips. The tags were developed in Japan and used for business cards have been tested by Hardee's and Dick's Sporting Goods.

WSJ pB6 "IBM Markets Wares to Africa - Targets Region With Low-Cost Software, Challenging Microsoft" by William M Bulkeley says IBM will sell low priced computer desktop applications to companies and govs in Africa challenging Microsoft and other rivals in the region. IBM has been pushing into developing markets like Africa and Asia as mature markets slow. The package includes basic programs like word processing and email and would be available via remote cloud computing facilities, meaning users could access the programs from the Web for $10 per month and could run on netbooks or low cost PCs.

WSJ pB3 "Intel Sees Market for PCs Stabilizing This year - Chip Giant Lays Out Strategy to Boaden market for Its Atom Microprocessor Beyond Low-End Laptops" by Don Clark says Intel's ceo, Paul S. Otellini said he expects PC unit sales for the year will end their declines and be flat to slightly up before Intel's annual forum for tech developers at San Fran. Intel used the forum to announce an effort to help chip customers set up their own claering houses to distribute programs for a variety of gadgets as part of its strategy to promote the use of chips outside computer markets. Intel's plan is to make it easier for apps which are normally targetted at a single operating system, to run on Atom based devices that use either Microsoft's Windows or an Intel backed operating system known as Moblin. MSFT said it will assist by adapting its Silverlight software, which adds video and animation to Web sites, to work with Moblin. I can't decide if the picture of Paul Otellini that accompanies the article amkes him look more like a knife salesman in the middle of a demo or a magician at a corporate event.

PFE $16.8 +0.16 0.96% 58,128,455 NYSE: No mentions found.

Procter & Gamble PG $57.24 +0.14 0.25% 11,004,972 NYSE: Fin Times p16 "Facebook to form alliance with Nielsen" by Alan Rappeport, David Gelles says Facebook will form a partnership with Nielsen, the market research company, in an effort further to legitimize itself as a mainstream ad platform. The deal will enable Facebook to offer advertisers more info about how users are responding to ads on the largest social network int he world, with 300 mil users. The move comes as Nielsen faces a challenge from a consortium that threatens its role as the dominant force in tv audience measurement that include NBC Univesal (owned by GE), Time Warner, News Corp, Procter & Gamble, AT&T and Unilever.

MMM $74.97 +0.43 0.58% 2,208,929 NYSE: No mentions found.

TRV $47.59 -0.20 0.42% 4,534,199 NYSE: No mentions found.

UTX $63.23 +0.56 0.89% 4,558,111 NYSE: No mentions found.

Verizon VZ $29.51 +0.02 0.07% 15,885,415 NYSE: NYT pB3 "Best Buy and Verizon Jump Into E-Reader Fray" by Brad Stone says the buding market for electronidc reading devices to about to get 2 new entrants: Best Buy and Verizon the new iRex Dr800SG will be announced today that will be sold at Best Buy.

WMT $50.99 +0.08 0.16% 14,540,331 NYSE: No mentions found.

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 Ellen Kullman
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