Newspaper wrap-up: Disney to spend $1.1B to improve theme park

MAJOR PAPERS:

GMAC's Residential Capital, which is owned in part by General Motors Corporation (NYSE: GM), is today expected to announce the cutting of 25% of its 12,000 employees, reported the Wall Street Journal (subscription required).
Walt Disney's (NYSE: DIS) struggling California Adventure theme park is about to get a $1.1B makeover over five years, reported the Wall Street Journal.

OTHER PAPERS:

General Motors said today that it will lay off 767 workers at its HamTramck assembly plant and cut one of the two shifts, reported the Detroit News.
Chrysler may eliminate as many as five vehicle models this month, according to the Detroit Free Press, citing a source.
Brazilian authorities raided Cisco Systems' (NASDAQ: CSCO) vehicles and seized merchandise, following a two-year investigation into alleged tax avoidance on products shipped from offshore havens, reported the U.K. Times.

WEBSITES:

According to a totally unsubstantiated rumor, News Corporation's (NYSE: NWS) MySpace is going to acquire RockYou, a top Facebook application developer, for $800M, reported ValleyWag.com.

Tags: chrysler, cisco, csco, detroit free press, detroit news, DetroitFreePress, DetroitNews, dis, disney, general motors, GeneralMotors, gm, myspace, news corp, NewsCorp, newspaper, nws, paper, periodical, rockyou, uk times, UkTimes, valleywag, wall street journal, WallStreetJournal, wsj

Get the latest on cars and trucks
from GM and all brands at AOL Autos.

#	Blogger	Posts	Cmts
1	Joseph Lazzaro	116	0
2	Tom Johansmeyer	105	2
3	Connie Madon	54	0
4	Tom Taulli	44	0
5	Steven Mallas	43	0
6	Mark Fightmaster	41	0
7	Trey Thoelcke	34	0
8	Steven Halpern	30	0
9	Melly Alazraki	26	0
10	Zac Bissonnette	25	0
11	Paul Foster	25	0
12	Jim Cramer	22	0
13	Brent Archer	22	0
14	Jon Ogg	21	0
15	Brian White	20	0
16	Elizabeth Harrow	18	0
17	Eric Buscemi	17	0
18	Sheldon Liber	13	0
19	Michael Fowlkes	8	0
20	Beth Gaston Moon	8	0

New
Used

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

Other Weblogs Inc. Network blogs you might be interested in:

Skype soap opera ends as founders set to regain stake ahead of $2B sale Big LBOs are teetering, but Wall Street still planning record bonuses	Hewlett-Packard reports growth in profit and operating margin in Q4 Chasing Value: Ten stocks for 2010 -- Part 5 Microsoft and News Corp talk about pushing Google aside
Magazine publishers joining together for iTunes-like magazine store Found Footage: Little World Gifts enters the world of virtual gifting Chillingo officially launches Crystal SDK for iPhone game developers	Behance introduces Action Method productivity app for iPhone Locationbar² adds breadcrumbs, domain emphasis to your Firefox address bar TripIt released for Android, updated for iPhone, coming soon for Blackberry
Wells Fargo takes over Sea Island Residential Development Willow Road, Estate of the Day BRM V12-T-44 Abarth Chronograph	Teracent: Display ad biz joins the Google family Google's plan for netbook PCs moves higher into the clouds Microsoft and News Corp talk about pushing Google aside