Still, All News Is Not Bleak

Kraft's third-quarter profits, which were announced this morning, slightly beat analysts' expectations, as did Kellogg's earnings. Procter & Gamble profits are up 9% for the quarter, Reuters reports , as consumers seem to be willing to pay price increases imposed to offset higher commodity and energy costs.

And on the media front, Times editor Bill Keller told a newsroom gathering that "I do not see another round of newsroom staff reductions on the horizon," according to Fishbowl NY
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