"The best executive is the one who has sense enough to pick good men to do what he wants done, and self-restraint enough to keep from meddling with them while they do it." - Teddy Roosevelt

Morning News of Note:

• AUO: Report: Taiwan makers to benefit as Wal-Mart and Best Buy schedule US$999 32-inch LCD TV rollout With Wal-Mart and Best Buy scheduled to roll out 32-inch LCD TVs priced at US$999 in the fourth quarter, Taiwan-based TFT LCD panel makers and LCD TV makers will benefit, as overall LCD TV demand should jump at the two retail giants, according to a recent Chinese-language Economic Daily News report, citing sources in the channel. (Full Story) Digitimes
• BIDU GOOG: Baidu Plays Defense on Voting Rights Dual-Class Share Structure Offers Little Decision Power To Average Holders of Stock Their Web sites are similar. Their names both connote the possibility of unlimited results. But Baidu.com Inc. has done U.S. competitor (and minor stakeholder) Google Inc. one better when it comes to insulating itself from a takeover. Which is another way of saying Baidu's public shareholders have virtually no say in the company's decisions. Shortly before Baidu went public on the Nasdaq Stock Market, the Beijing-based search engine established a dual-class share structure that gave its shareholders -- management, directors, employees and early investors -- stock with 10 times the voting rights of the shares it sold in its U.S. initial public offering this month. (Full Story) WSJ
• ANR: Alpha Natural Resources, Inc.-ANR a coal company heating up-Business Week: With oil prices still rising, the demand for quality coal is also rising. One large coal producer, ANR, has 64 mines with 500 million tons of proven and probable reserves, worth $30B at current prices. Says Bill Harnisch, CEO of hedge fund Peconic Partners, "ANR is a cheap energy play with a strong earnings-growth kicker."
• Fund Flows: equity funds rptd inflows $936m, ex etfs $580m; intl equity funds rptd inflows $1.063bln; taxable bond funds rptd inflows $371m, inv grade inflows $384m; money mkt funds rptd inflows $18.539bln -- AMG Data
• Hedge Funds: PIMCO being sued by investor alleging firm manipulated price of June 10yr Tresury futrures contracts on the CBOT; Raymond Chui claims PIMCO violated Commodity Exchange Act through manipulative conduct that created artificially high prices in futures market; suit filed on Aug 16 in US District Court in Chicago seeks class action status

Market Comments: The market opened slightly higher this morning. ADSK and MRVL reported strong earnings last night, and both stocks are higher so far. Energy stocks are also getting a big pop today, after several days of heavy selling.

long ANR, GOOG