Mid-day News Update

• Bail set at $750,000 for ex-Goldman Programmer (Reuters)
• U.S. ISM Service Industries Index Increased to 47 (Bloomberg)
• World Bank tells G8: 2009 remains a dangerous year (Reuters)
• Bank of America Writeoffs May Rise 10%, Analyst Says (Bloomberg)
• Earnings Drop Worldwide as Job Losses Hurt Consumers (Bloomberg)
• Microsoft Plans for Worst as U.S. Companies Show No End to Fear (Bloomberg)
• Florida Aided Allen Stanford, suspect in huge swindle (Miami Herald)