" This is Money Markets & More for Wednesday middle -- February 11 2009. From the newsroom of the MarketWatch radio network I'm Steve Potisk. Coming up will General Motors cutting more jobs increased these survive ability factor. Hard times for easy listening and gossip magazines. Aren't grabbing as many readers as they used to but firsts keep this in mind. Once the latest buzz from Wall Street. Listen to Morning Stock Talk on iTunes and on marketwatch.com. Slash podcasts on the -- we'll get a look at the trade gap for December it expected to be a little smaller than a month before. And -- also got a look at the federal budget for January. On the earnings front we'll hear from Coca-Cola enterprises that's the largest bottler of Coke products. I robot the maker of all types of robots including the -- automatic vacuum. Jones apparel Las Vegas Sands tobacco company Reynolds America. And home builder Toll Brothers all cracked -- open their books. On this date in business history 1752. The first hospital in the US opens in Pennsylvania. 1937. A sit down strike ends when General Motors recognizes the united auto workers union. More on GM minute 1941. On the first gold record has presented the Glenn Miller for Chattanooga Choo -- And 1964. The Beatles hold their first US concert at Washington DC. -- of Washington DC and had a lot to do with a big Wall Street sell off Tuesday the Dow retreated 382 points NASDAQ sank 67 the S&P lost 43. Analysts say stocks slid on disappointment that the lack of details Treasury Secretary -- writers new bank bail out plan. All right General Motors shares down four and a half percent Tuesday. After it said it plans to slash 12% of its US salaried work force about 3400 jobs. That's also going to cut about 10000 jobs globally as it prepares to make its case next week to secure funding from the federal government. I asked Edward lap on the executive editor of Automotive News weather of the Big Three could survive."

" A lot of it's gonna have to do how quickly. The economy recovers and and -- car sales bounced back. And when consumers are confident that they're gonna have jobs or keep their jobs they'll start buying vehicles again and once that happens. It should be fairly quick or we go to shoot out of the trough and that in -- most projections are that there is. Pent up demand for vehicles. Please vehicles that are wearing out -- That's going to have to happen spot. The economy needs to turn around people need to buy cars."

" says it's important to note that not just US carmakers have a tough time right now with Japanese companies. Struggling as well. Yes that's the company that brings you elevator music. And -- holdings has had a sour note companies the latest to file for bankruptcy protection saying its total. -- high of 500 billion dollars assets are less than 50000. User access plans to stay in business while it reorganized its rate. It's been hiding a secret location for five months but colonel Sanders had written recipe for fried chicken. Is back and it's old Kentucky home the yellowing piece of paper is now in a new electronics safe. It's been kept the same old vault for decades. That the company decided more security was needed including motion detectors and around the clock cameras. And now it's time to head on over to the consumer corner here's John --"

" What kind of magazines. Some let's ponder that for a moment here according to -- some folks out there we're not reading magazines as much especially that gossip magazines. And joining us to talk more about this is consumer race and Kate so what is this we don't care about them Brandon. What's that -- he goes Angelina now the big thing lately you're in newsstand is this pictures of Jessica Simpson -- the place I -- Italian. She was on the cover of people magazine with that current and do -- Jessica's. And Rubin -- that actually. On is getting. Actually caught my attention I mean real way. Listen Jessica Simpson I would not. You know employ her at NASA. But as a country music star I appreciate her ability as an actress and you know but overall -- he's being. Really brutalized she's being vilified -- means one thing that that the thing that buffalo wings -- from buffalo you know. Yeah I know somebody yeah but heavier gimme a -- in an area -- she probably now weighs what she should weigh you know trying human. You know but I gotta tell you I didn't actually see that on people magazine's covered night. I leafed through the magazine looking for the pictures and I couldn't find them the way Clinton I'm moved on -- Columbia journalism review our I."

" But that's of people are doing mounts on there instead of making an impulse buy it you know at the grocery store line like oh I want to see the latest about Jennifer and Josh. You know an uninvited to take to help people are doing just what you did their thumbing through you know looking at the pictures you know like the celebrity bodies and bathing suit that's a celluloid and stuff. But they're not buying them so as a result but has circulation down sharply for a lot of these you know celebrity and gossip magazines."

" And I notice that even Oprah's magazine has seen sales -- down Tony 5%. Boy you know I guess that would be considered bad news there in the Oprah empire but is there any."

" Positive signs coming out of the magazine industry yes actually. Despite the -- dropped for the the gossip magazines overall circulation is only down that for the most recent figures they have which is the last six months of 2008 circulation is down to really just you know fraction of a percent. That's because a lot of magazines cut their prices and they offered these great deals to keep subscribers on there. And there are some categories. That have have -- like -- right after the election right after inauguration day people are buying out the news magazines you know -- keepsakes of about all that and also I guess is people are hunkering down and stay at home cooking magazines are saying they're circulation rise as well."

" idea love cooking as you know we have mentioned here before. But I have not have really gone over there answer buying of food and winder wine spectator anything like that yet yeah I mean I used to subscribe to all them but I you know you run out of time. The yeah especially when you have kids who is the time every magazine right Elaine don't appreciate the gourmet food that you just names him because they want macaroni and cheese and hot dogs or whenever -- So I guess so where's all the schooling could 2009. -- shakeout here for. Magazines."

" It could be again you know we we -- certain categories that are doing okay but you know magazines like you know that other members of the media there there are also seeing their advertising dollars decline. So I think once until we actually start to see the economy turnaround could -- could continue to be a problem."

" And I'll have to give a plug here to one of my favorite magazines field and stream field and strain look at that white tailed. Buck. Sure that large mouth bass so well. Yes I actually do good field history. While yes yes indeed and Kate's our consumer -- joining us to talk about Mac is in the economy thanks hand and give Steve back to you."

" My best move right now is to simply say that's it for Money Markets & More. But if you'd like to contact us you can at MarketWatch radio newsroom at Yahoo.com. I'm Steve Potisk season."