businesswire.com - 11/1/2009
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NEW YORK--( BUSINESS WIRE )-- CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies, today announced that, with the overwhelming support of its debtholders, the Board of Directors voted to proceed with the prepackaged plan of reorganization ...
vsinvestor.com - 11/2/2009
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vsinvestor.com —
CIT Group Inc. (NYSE: CIT) is down sharply
on the common stock after the company did go...
ahead and file a pre-packaged bankruptcy protection. Shares traded are only 380,000 at 8:35 AM EST although it appears that there are no specialist shares ...
(more)
CIT Group Chapter 11 (CIT)
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CIT Board Approves Bankruptcy Filing
Calculated Risk —
Press Release: CIT Board of Directors Approves Proceeding with Prepackaged Plan of Reorganization with Overwhelming Support of Debtholders ...
Taxpayers are, once again, the biggest losers in the CIT bankruptcy
BloggingStocks —
Filed under: Bad news, CIT Group (CIT)CIT Group (NYSE: CIT) has filed for bankruptcy -- which will lead to the wipeout of the United States taxpayers' $2.3 billion "investment" in the company. At least, it was billed as an investment at the time, which it was, in the same way that lending your crack junkie cousin beer money is an investment. "The decision to proceed with our plan of reorganization will allow CIT to continue to provide funding to our small business and middle market customers, two sectors that remain vitally important to the U.S. economy," Jeffrey M. Peek, CIT's Chairman and CEO, said in a statement. "This ...
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CIT board approves restructuring plan: source
reuters.com 10/1/2009 — NEW YORK (Reuters) - CIT Group Inc's board approved a restructuring plan on Thursday, clearing the way for the commercial lender to launch a large debt exchange offer or to file for prepackaged bankruptcy if that failed, a person knowledgeable about ...
CIT Chairman/CEO Out (CIT)
247wallst.com 10/13/2009 — CIT Group Inc. (NYSE: CIT) is now effectively without a CEO. The troubled financial company has just announced that Jeffrey M. Peek informed CIT’s board of directors of his plans to resign. This resignation is as the company’s chairman ...
CIT Double Whammy (CIT)
vsinvestor.com 10/13/2009 — CIT Group Inc. (NYSE: CIT) has two negatives, although one may not be too bad considering how the company has done. There are reports that it is closer to bankruptcy and now its Chairman/CEO announced his resignation . At 8:18 AM EST we have seen ...
CIT (CIT) For Suckers
247wallst.com 9/30/2009 — Shares of CIT (CIT) rallied 32% to $2.20 after The New York Post reported that hedge-fund operator John Paulson of Paulson & Co. was orchestrating a move to merge CIT Group with the remains of IndyMac Federal Bank.
Those who bought the stock all ...
CIT (CIT) Collapsing On Possible Chapter 11
vsinvestor.com 9/30/2009 — CIT (CIT) is down over a third on news that bondholders may take over the company or it may declare Chapter 11.
The stock moved up 40% to $2.20 on a rumor that a hedge fund manager might salvage the company.
This morning it is down to $1.26.
...
PREMARKET ALERT: CIT Group (CIT)
vsinvestor.com 7/10/2009 — CIT Group Inc. (NYSE: CIT) are down about 17 percent to $1.53 on volume of 27,000 shares as of about 8:15 a.m. Eastern. Bloomberg.com is reporting that the FDIC is unwilling to guarantee CIT’s bond sales because the commercial lender’s ...
CIT Challenging Key Levels (CIT)
vsinvestor.com 10/30/2009 — CIT Group Inc. (NYSE: CIT) Is getting “pantsed” this morning on the NYSE. Goldman Sachs Group (NYSE: GS) has trimmed the size of its loan. Rather than $3 billion, Goldman is loaning some $2.13 billion. This is two days after CIT raised ...
CIT Spanking (CIT)
vsinvestor.com 8/11/2009 — CIT Group, Inc. (NYSE: CIT) is getting hammered again. It has delayed its 10-Q filing amid restructuring, and the word is out that it may have to file for bankruptcy protection. As of 8:48 AM EST we have seen 5.5 million shares trade and the stock ...
PREMARKET ALERT: CIT Group (CIT)
vsinvestor.com 7/16/2009 — CIT Group (CIT) shares are likely to see a volume spike Thursday after newspaper reports suggest that a government bailout might not be cards, and talks reportedly broke down. That said, its failure to secure government funding is not expected to ...
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