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CIT shares halted last trade up 1.9% at $1.64
- Thread starter ASusilovic
- Start date
This article says they could file as early as tomorrow morning.
http://finance.yahoo.com/news/Refus...tml?x=0&sec=topStories&pos=main&asset=&ccode=
Not to turn too political, but wouldn't you think if they went out and market took a dive, the administration would lose some political capital? I wonder if they are calling JPM GS BAC for a buy under. Although I'm pretty sure BAC has unplugged their government phone. I like free market and CIT going away, I'm wondering if it's possible. Do you think treasury are up all night tonight, or are the lights out?
http://finance.yahoo.com/news/Refus...tml?x=0&sec=topStories&pos=main&asset=&ccode=
Not to turn too political, but wouldn't you think if they went out and market took a dive, the administration would lose some political capital? I wonder if they are calling JPM GS BAC for a buy under. Although I'm pretty sure BAC has unplugged their government phone. I like free market and CIT going away, I'm wondering if it's possible. Do you think treasury are up all night tonight, or are the lights out?
Quote from Illum:
This article says they could file as early as tomorrow morning.
http://finance.yahoo.com/news/Refus...tml?x=0&sec=topStories&pos=main&asset=&ccode=
Not to turn too political, but wouldn't you think if they went out and market took a dive, the administration would lose some political capital? I wonder if they are calling JPM GS BAC for a buy under. Although I'm pretty sure BAC has unplugged their government phone. I like free market and CIT going away, I'm wondering if it's possible. Do you think treasury are up all night tonight, or are the lights out?
not by morning, but tonight!
With its assets deteriorating and dangerously little cash on hand, the news left CIT with few options outside of bankruptcy. A filing could come as early as Wednesday night, analysts said.
just curious-how do you file for bankruptcy on middle of the night? specially, when bunch of their bonds are due TODAY. Lehman did exactly same s*t,and they did file ON maturity date
what a bunch of shameless mofos
CIT Annual report 2006.
2006 was a terrific year as we gained momentum
in becoming the global finance leader in the mid-
dle market. We delivered solid financial results
highlighted by strong top-line growth, exceptional
credit quality and a double-digit increase in EPS.
Moreover, we made significant progress strength-
ening our global franchise and positioning our-
selves for future growth.
One year later (2007 AR)
Two thousand and seven was an extremely challenging
year for financial institutions and it proved to be oneof
the most difficult in CITâs 100-year history. Ourperfor-
mance was adversely affected by the downturn in the
housing market, the legislative changes surrounding
education lending and the tightening of the capital
markets. Despite these setbacks, which resulted in
a net loss of $111.0 million for our company and
a 57% decline in our share price, we are a resilient
company focused on building value for our share-
holders, our customers and our employees. We have
demonstrated this resiliency time and again over the
past century, as we navigated successfully through more
than 19 business cycles since our founding in 1908.
And then 2008
This past year was one of the
most challenging periods in our
100-year history. The financial
markets underwent major disrup-
tions that tested the resolve and
resiliency of every participant,
including CIT. While the near-
term prospects for the economy
remain unclear at best, what is
clear is that we entered 2009
as a well-capitalized bank holding company with
leading market positions and unparalleled industry
expertise. During 2008 we took significant steps to
position CIT for long-term success and to capitalize
on what I believe will be strong opportunities once
the business environment improves.companies. These two sectors are the backbone of
the U.S. economy and will undoubtedly lead the way
to economic recovery. We stood by our clients during
this difficult period, as we have for more than a century
spanning 19 business cycles. In part as a result of this
steadfastness, our Trade Finance and Transportation
Finance segments earned double-digit returns. Our
Corporate Finance segment, however, was impacted
by weakening economic conditions and rising credit
costs, which resulted in the need to increase reserves.
In Vendor Finance, we made progress on our pledge to
bring this business back to profitability, and we intend to
restore this franchise to acceptable earnings and returns.
Looking ahead, we expect 2009 to be very challenging.
We will continue to be prudent in managing our capital,
2006 was a terrific year as we gained momentum
in becoming the global finance leader in the mid-
dle market. We delivered solid financial results
highlighted by strong top-line growth, exceptional
credit quality and a double-digit increase in EPS.
Moreover, we made significant progress strength-
ening our global franchise and positioning our-
selves for future growth.
One year later (2007 AR)
Two thousand and seven was an extremely challenging
year for financial institutions and it proved to be oneof
the most difficult in CITâs 100-year history. Ourperfor-
mance was adversely affected by the downturn in the
housing market, the legislative changes surrounding
education lending and the tightening of the capital
markets. Despite these setbacks, which resulted in
a net loss of $111.0 million for our company and
a 57% decline in our share price, we are a resilient
company focused on building value for our share-
holders, our customers and our employees. We have
demonstrated this resiliency time and again over the
past century, as we navigated successfully through more
than 19 business cycles since our founding in 1908.
And then 2008
This past year was one of the
most challenging periods in our
100-year history. The financial
markets underwent major disrup-
tions that tested the resolve and
resiliency of every participant,
including CIT. While the near-
term prospects for the economy
remain unclear at best, what is
clear is that we entered 2009
as a well-capitalized bank holding company with
leading market positions and unparalleled industry
expertise. During 2008 we took significant steps to
position CIT for long-term success and to capitalize
on what I believe will be strong opportunities once
the business environment improves.companies. These two sectors are the backbone of
the U.S. economy and will undoubtedly lead the way
to economic recovery. We stood by our clients during
this difficult period, as we have for more than a century
spanning 19 business cycles. In part as a result of this
steadfastness, our Trade Finance and Transportation
Finance segments earned double-digit returns. Our
Corporate Finance segment, however, was impacted
by weakening economic conditions and rising credit
costs, which resulted in the need to increase reserves.
In Vendor Finance, we made progress on our pledge to
bring this business back to profitability, and we intend to
restore this franchise to acceptable earnings and returns.
Looking ahead, we expect 2009 to be very challenging.
We will continue to be prudent in managing our capital,
Quote from Bob111:
this statement above looks like forex traders stories..it's what will happens to you, when you use to much leverage.
The entire US economy was one big leveraged scam.
And now these firms are falling like dominoes.
I see more big failures looming and S&P revisiting the 600 range.
Futures look bad
Look at this green shoot crook of Sh*t
"Denial of CIT bailout unlikely to rattle markets"
http://finance.yahoo.com/news/Denia...tml?x=0&sec=topStories&pos=main&asset=&ccode=
I'm not trying to be pessimistic, Im long tech and financials. I'm in for some pain tomorrow. This article makes no sense as i sit here watching the futures bleed.
Asian markets coming off their highs
Look at this green shoot crook of Sh*t
"Denial of CIT bailout unlikely to rattle markets"
http://finance.yahoo.com/news/Denia...tml?x=0&sec=topStories&pos=main&asset=&ccode=
I'm not trying to be pessimistic, Im long tech and financials. I'm in for some pain tomorrow. This article makes no sense as i sit here watching the futures bleed.
Asian markets coming off their highs