PRESS DIGEST - Wall Street Journal - March 10

March 10 (Reuters) - The following were the top stories in The Wall Street Journal on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

* Debt-laden Ireland is winning applause for adopting severe measures that Greece has put off, but pay cuts and tax hikes have put public servants in some unusual binds.

* Long before the Federal Reserve raises short-term interest rates in the face of an improving economy, it will need to signal to the public that a change is in the works. Fed officials are intensifying discussions about how to send that sign when the time comes.

* Federal prosecutors in Manhattan equipped several cooperating witnesses with recording devices to try to obtain information about targets in the Galleon insider-trading probe, people familiar with the matter say.

* If his company merges with Stanley Works (SWK.N), Black & Decker's BDK.N CEO is in line for a pay package that could be worth over $89 million after three years.

* Metro-Goldwyn-Mayer Inc is readying a backup plan should bids for the iconic film studio come in too low, said people familiar with the matter.

* Bank of America Corp (BAC.N) plans to announce Wednesday that it is eliminating $35 overdraft fees on debit-card purchases as the bank tries to stay ahead of a sweeping round of regulations.

* Some of the largest U.S. business groups announced a multimillion-dollar television advertising campaign aimed at defeating the Democrats' pending health-care legislation, as both backers and opponents of the initiative sought to target wavering lawmakers in what is expected to be the final phase of the legislative process.

* A $1.3 billion loan offering from International Lease Finance Corp has met with strong investor demand, which will enable the aircraft-leasing unit of American International Group Inc (AIG.N) to raise fresh funds to repay some of its maturing debt.

* Toyota Motor Corp (7203.T) and federal investigators probed the latest report of sudden acceleration Tuesday, a dramatic incident on a California highway that ricocheted around the Internet.

* American International Group Inc (AIG.N) is basing its upcoming round of bonuses and incentive pay on its new "forced ranking" system that measures the performances of about 10,000 employees, according to people familiar with the matter.

* Ingersoll-Rand Plc (IR.N) said it has prohibited its subsidiaries from selling products to customers in Iran.

* Cisco Systems Inc (CSCO.O) Tuesday unveiled a piece of equipment for the core of the Internet it says can transmit three times as much data as its current hardware, though its introduction won't directly translate into faster connections for consumers.