Nov 3rd, 2009 - Los Angeles Times
Related topics:
On the heels of its bankruptcy filing, CIT Group Inc.'s future as a commercial lending giant will be determined by the confidence of its creditors and customers.
The 101-year-old lender's months-long financial struggles already have been a boon to rivals, which have picked up hundreds of CIT clients. But it is unclear whether those rivals will have the means to pose a real threat.
With $71 billion in assets, CIT serves 2,000 vendors that supply merchandise to 300,000 stores, according to the National Retail Federation. The company's Chapter 11 bankruptcy filing Sunday is one of the biggest in U.S. corporate history, with liabilities totaling $64.9 billion.
Related stories:
After filing for bankruptcy, CIT wants to borrow $500 million cushion
Nov 3rd, 2009 - cleveland
Daniel Acker, Bloomberg NewsCIT headquarters in New York.Staff and wire reportsNEW YORK — CIT Group Inc., the bankrupt 101-year-old commercial lender, sought a judge's...Retailers 'Dodge Bullet' With CIT's November Bankruptcy Filing
Nov 3rd, 2009 - Bloomberg
Nov. 3 (Bloomberg) -- The timing of CIT Group Inc.’sbankruptcy filing may have helped U.S. retailers avoid a holidayseason with empty shelves. “Most retailers have dodged a bullet,” said CraigShearman...
Lender CIT Group seeks bankruptcy
Nov 2nd, 2009 - Philly
CIT made the filing in New York Bankruptcy Court after a debt-exchange offer to bondholders failed. CIT said in a statement that its bondholders overwhelmingly opted for...
CIT Group files for bankruptcy
Nov 2nd, 2009 - Washington Post
NEW YORK (Reuters) - CIT Group Inc, a lender to hundreds of thousands of small and medium-sized businesses, filed for bankruptcy on Sunday, as the global financial crisis left it unable to fund itself and the recession clobbered its loans.
CIT Group files for bankruptcy to restructure
Nov 1st, 2009 - Dallasnews
WASHINGTON – After struggling for months to avert bankruptcy, lender CIT Group has filed for Chapter 11 protection in an attempt to restructure its debt while trying...
Related videos from YouTube:
1:32CIT Group Files for Chapter 11 Protection
The Chapter 11 bankruptcy filing for CIT Group was not unexpected. The lender to thousands of small and mid-sized businesses has been struggling for months to avoid collapse. (Nov. 2)
1:01Oppenheimer's Heinberg on a CIT Group bankruptcy
A CIT Group Inc. (NYSE:CIT) bankruptcy would have an impact on middle market lending says Marshall Heinberg, the head of investment banking at Oppenheimer & Co. because the firm has been a very big player in small or big capital companies ...
2:20cit group bankruptcy reload
my first upload got taken down cit ripple effect
5:26Don't Panic! CIT Group - what it really means!
July 26, 2009 - recorded 14:30 EDT Dodd Says US Shouldnt Rule Out Helping CIT Avoid Bankruptcy: www.bloomberg.com CIT Reworks Tender to Punish Late Exchange of Notes: www.bloomberg.com CIT ripple effect squeezes small businesses, retailers: tinyurl ...
