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The takeaway from CBS's Les Moonves at Goldman Sachs: the ad market is really bad, but network TV has been surprisingly strong in the midst of it. Advertisers are following through on the upfront commitments they made last spring, with cancellations no worse than a standard year. The company is expecting $150 million in political ads to hit in Q4.

What's more, talks have started with big cable and satellite operators and CBS is demanding retransmission fees, which gives the network another revenue stream. So far, CBS has inked 25 deals with small cable operators, but now talks have started w

The always-optimistic Les Moonves takes the stage. We'll see what picture he paints of the ad market and the company's prospects in digital.

Les: "We're a company in transition." Since the split with Viacom, CBS has spent $2.6 billion on acquisitions (including CNET) and $2.3 billion on divestitures, including theme parks and radio.

We still love the network TV business. People were surprised how big the Olympics were for NBC. It was the first time I've ever rooted for NBC. The CW Gossip Girl premiere did well. Fox's premieres doing well. We're optimistic for our fall show premieres next week

Not for a lack of ideas, let’s see what the blogosphere has fpr you:

1. Jim Cramer is building a wind play (his mouth and ass have been stapled shut and he is being force fed beans) - go watch the video .

2. A broken, but interesting ‘China is getting Fatter, Fatser than us ‘ Play - MEND (sent in from a friend in the business that sells their product overseas.

3. Always lots of good new ideas coming from Jeff on StockTwits.

4. The Stock Jockey has been one of my favorite few finds (or he found me)-. He has a great blog too .

5. Dogwood is cranking out good ideas on Twitter and his blog a