Newspaper wrap-up: Sun Micro introducing new, faster chip

MAJOR PAPERS:

With his company's stock near a 52-week low, Robert Willett, CEO of Best Buy Incorporated's (NYSE: BBY) international operations, bought nearly $500K in stock, reported Barron's Online's "Inside Scoop" section.
In a rare instance of a foreign company being allowed into the Chinese onshore oil and gas industry, Chevron Corporation (NYSE: CVX) will develop a natural gas filed owned by PetroChina Company Limited (NYSE: PTR), reported the Wall Street Journal.
The Wall Street Journal reported that Sun Microsystems Inc (NASDAQ: SUNW) is today expected to introduce a new microprocessor called UltraSparc T2, will be able to process up to 64 threads at one time -- most chips can handle up to four threads at a time.
According to the Financial Times, citing a source familiar with his pay package, Robert Nardelli will college a salary of $1 a year in his new role as CEO of Chrysler, which is 20% owned by DaimlerChrysler (NYSE: DCX).

OTHER PAPERS:

The New York Mercantile Exchange (NYSE: NMX) is quietly selling its lower Manhattan headquarters, asking for between $600M and $700M, ahead of a deal to sell itself, reported the New York Post.

Tags: barron's, barrons, bby, best buy, BestBuy, bob nardelli, BobNardelli, chevron, chrysler, cvx, dcx, financial times, FinancialTimes, ft, inside scoop, InsideScoop, inthenews, newspaper, nmx, ny post, nymex, NyPost, paper, periodical, petrochina, ptr, robert nardelli, RobertNardelli, sun micro, SunMicro, sunw, wall street journal, WallStreetJournal, wsj

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