!!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday *** | |
GlassPearls
(OP) User ID: 613866 United States 10/30/2009 01:27 PM Report Abusive Post Report Copyright Violation | |
SHR
Forum Administrator 10/30/2009 01:27 PM Report Abusive Post Report Copyright Violation | Dow is falling off a cliff..... Dow 9,726.94 -235.64 -2.37% ____________________________________________________ E-mail anytime [email protected] Inquiring about a ban?, include the IP address found here. [link to www.showmemyip.com] Ooooh, see the fire is sweepin' Our very streets today... Burns like a red coal carpet, Mad bulls lost the way... War, children, it's just a shot away...it's just a shot away.... |
Rokit5
User ID: 806572 Canada 10/30/2009 01:30 PM Report Abusive Post Report Copyright Violation | Link pending. Quoting: GlassPearlsUPDATE 1: CNBC cable news reporting that CIT bankruptcy is certain. Estimated to take 60-90 days to sort out. CIT to file 'within a week' Thread: BREAKING: CIT TO FILE FOR BANKRUPCY 'WITHIN THE WEEK' (Page 2) |
Anonymous Coward User ID: 584809 United States 10/30/2009 01:31 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 782508 United States 10/30/2009 01:32 PM Report Abusive Post Report Copyright Violation | : CIT still "very likely" to file prepackaged bankruptcy on Sunday, CNBC says CNBC's David Faber reports that CIT is still "very likely" to file a prepackaged bankruptcy on Sunday, even with the news just announced regarding the company's reorganization plan with Carl Icahn. :theflyonthewall.com |
GlassPearls
(OP) User ID: 613866 United States 10/30/2009 01:33 PM Report Abusive Post Report Copyright Violation | |
SHR
Forum Administrator 10/30/2009 01:34 PM Report Abusive Post Report Copyright Violation | OP should be banned Quoting: Anonymous Coward 743646If he is correct can we ban you? You guys aren't going to banning anyone! Easy now....Just back away from the bannage...C'mon now, we all want this to end without anyone getting hurt...easy...just back away and we all go home...that's right...easy...you're doing great....that's right....we don't want anyone to get hurt here.....ok, good job....now.... GIT EM BOYS!!! CLEAR CLEAR CLEAR...HUT HUT HUT...ON THE GROUND MUTHA FUCKA!!! TAZZ EM!!! BZZZZZ BZZZZ....AHHHH!!!! MOVE IN!!! TAKE THE SITE!!! NUKE EM FROM ORBIT!!! GO GREEN GO GREEN!!!! ____________________________________________________ E-mail anytime [email protected] Inquiring about a ban?, include the IP address found here. [link to www.showmemyip.com] Ooooh, see the fire is sweepin' Our very streets today... Burns like a red coal carpet, Mad bulls lost the way... War, children, it's just a shot away...it's just a shot away.... |
Anonymous Coward User ID: 806555 United States 10/30/2009 01:34 PM Report Abusive Post Report Copyright Violation | All this and the fucking piece of shit went UP 199 points yesterday.....WALL STREET NEEDS TO BE TAKEN OUT and the PARAMILITARY PIGS guarding it as well.......I'm not going to do fucking thing because I will just sit back and watch as the Arabs do what they FINALLY have to do...If they have any balls |
Anonymous Coward User ID: 584809 United States 10/30/2009 01:34 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 795177 United States 10/30/2009 01:35 PM Report Abusive Post Report Copyright Violation | |
GlassPearls
(OP) User ID: 613866 United States 10/30/2009 01:35 PM Report Abusive Post Report Copyright Violation | : CIT still "very likely" to file prepackaged bankruptcy on Sunday, CNBC says Quoting: Anonymous Coward 782508CNBC's David Faber reports that CIT is still "very likely" to file a prepackaged bankruptcy on Sunday, even with the news just announced regarding the company's reorganization plan with Carl Icahn. :theflyonthewall.com Correct. Faber went on to say it will take 60-90 days to sort it all out. |
SHR
Forum Administrator 10/30/2009 01:36 PM Report Abusive Post Report Copyright Violation | Okay, sorry OP about the banned comment. Quoting: GlassPearlsIt is trading at .77 cents and Ichan just loaned them 1 billion. 1 billion - that's all? They will be owned by BOA Monday morning. Apology accepted. Peace. oH wHAT DA FUK???? No mod SWAT deployment and crazy tac shit?....The snipers are gonna be disapointed! ____________________________________________________ E-mail anytime [email protected] Inquiring about a ban?, include the IP address found here. [link to www.showmemyip.com] Ooooh, see the fire is sweepin' Our very streets today... Burns like a red coal carpet, Mad bulls lost the way... War, children, it's just a shot away...it's just a shot away.... |
Anonymous Coward User ID: 682111 United States 10/30/2009 01:36 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 584809 United States 10/30/2009 01:36 PM Report Abusive Post Report Copyright Violation | |
snark
Forum Administrator User ID: 790439 United States 10/30/2009 01:38 PM Report Abusive Post Report Copyright Violation | Goldman Sachs wins again. [link to rightsoup.com] T For Texas, T For Tennessee! The virtue of courage is a prerequisite for the practice of all other virtues, because otherwise one is virtuous only when virtue has no cost. There are times when something needs to be done, and yet we know that if we step up and do this needful thing, we will pay a heavy personal price. -C.S. Lewis |
GlassPearls
(OP) User ID: 613866 United States 10/30/2009 01:39 PM Report Abusive Post Report Copyright Violation | Okay, sorry OP about the banned comment. Quoting: SHRIt is trading at .77 cents and Ichan just loaned them 1 billion. 1 billion - that's all? They will be owned by BOA Monday morning. Apology accepted. Peace. oH wHAT DA FUK???? No mod SWAT deployment and crazy tac shit?....The snipers are gonna be disapointed! |
HTCWiz
User ID: 787807 United States 10/30/2009 01:40 PM Report Abusive Post Report Copyright Violation | CIT, Goldman reach agreement Posted on October 30, 2009 12:33 PM Struggling commercial lender CIT Group Inc. said Friday that it reached a deal with Goldman Sachs Group Inc. to reduce a $3 billion line of credit to $2.13 billion and also keep it open, under certain circumstances, should CIT file for bankruptcy. New York-based CIT paid Goldman a $285 million termination fee for reducing the facility, according to a filing with the Securities and Exchange Commission. The agreement eliminates the unused portion of the credit line, and CIT put up $250 million of extra collateral, the company said. [link to www.thedeal.com] ~ America is a vast conspiracy to make you happy. ~ |
Anonymous Coward User ID: 797720 United States 10/30/2009 01:43 PM Report Abusive Post Report Copyright Violation | |
ac User ID: 137597 United States 10/30/2009 01:44 PM Report Abusive Post Report Copyright Violation | Why don't they just put this fucker out of its misery all ready? I can't believe the amount of money that has been funneled into this dying pig just to prop it up. If they go away, some other lending entity will surely take its place. Talk about your proverbial black holes; Anyone that has been stupid enough to throw any money at CIT at this juncture has to be certifiable! |
Anonymous Coward User ID: 743646 United States 10/30/2009 01:44 PM Report Abusive Post Report Copyright Violation | OP should be banned Quoting: SHRIf he is correct can we ban you? You guys aren't going to banning anyone! Easy now....Just back away from the bannage...C'mon now, we all want this to end without anyone getting hurt...easy...just back away and we all go home...that's right...easy...you're doing great....that's right....we don't want anyone to get hurt here.....ok, good job....now.... GIT EM BOYS!!! CLEAR CLEAR CLEAR...HUT HUT HUT...ON THE GROUND MUTHA FUCKA!!! TAZZ EM!!! BZZZZZ BZZZZ....AHHHH!!!! MOVE IN!!! TAKE THE SITE!!! NUKE EM FROM ORBIT!!! GO GREEN GO GREEN!!!! I know, but see what a fun fantasy it is. |
HTCWiz
User ID: 787807 United States 10/30/2009 01:47 PM Report Abusive Post Report Copyright Violation | This link is awesome: News For CIT From The Last 14 Days Check below for free stories on CIT the last two weeks. There are 34 items on the Fly with pertinent information. Latest story in the running thread: 13:31 EDT CIT theflyonthewall.com: CIT still "very likely" to file prepackaged bankruptcy on Sunday, CNBC says CNBC's David Faber reports that CIT is still "very likely" to file a prepackaged bankruptcy on Sunday, even with the news just announced regarding the company's reorganization plan with Carl Icahn. ~ America is a vast conspiracy to make you happy. ~ |
GlassPearls
(OP) User ID: 613866 United States 10/30/2009 01:47 PM Report Abusive Post Report Copyright Violation | CIT, Goldman reach agreement Quoting: HTCWizPosted on October 30, 2009 12:33 PM Struggling commercial lender CIT Group Inc. said Friday that it reached a deal with Goldman Sachs Group Inc. to reduce a $3 billion line of credit to $2.13 billion and also keep it open, under certain circumstances, should CIT file for bankruptcy. New York-based CIT paid Goldman a $285 million termination fee for reducing the facility, according to a filing with the Securities and Exchange Commission. The agreement eliminates the unused portion of the credit line, and CIT put up $250 million of extra collateral, the company said. [link to www.thedeal.com] This is total bullshit. GS should be barred from any involvement in this. "Certain conditions", eh? If you listen hard enough, CxOs all across America are holding emergency meetings right about now. They're likely screwed as loans on their receivables start drying up. Well, the doomers finally got their wish. |
Anonymous Coward User ID: 441568 United States 10/30/2009 01:50 PM Report Abusive Post Report Copyright Violation | CIT gets $1 bln line of credit from Icahn SAN FRANCISCO (MarketWatch) -- CIT Group /quotes/comstock/13*!cit/quotes/nls/cit (CIT 0.78, -0.17, -17.68%) said Friday that it got a new $1 billion line of credit from activist investor Carl Icahn. Shares of the troubled lender were halted after falling 13% to 83 cents in afternoon trading. The new credit line can be drawn by CIT on or before the end of this year. The company can still borrow from the Icahn facility if it files for bankrupcty protection from creditors, CIT added in a statement. [link to www.marketwatch.com] |
Anonymous Coward User ID: 743646 United States 10/30/2009 01:51 PM Report Abusive Post Report Copyright Violation | |
HTCWiz
User ID: 787807 United States 10/30/2009 01:51 PM Report Abusive Post Report Copyright Violation | [link to www.bloomberg.com] Oct. 30 (Bloomberg) -- CIT Group Inc. bond and credit- default swap prices show that investors are betting the 101- year-old commercial lender will file for bankruptcy after the deadline for a debt exchange expired overnight. Since CIT Chief Executive Officer Jeffrey Peek started a $30 billion debt swap Oct. 1, the company’s notes due Nov. 3 dropped 12 cents to 68 cents on the dollar, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. Holders of the $500 million in notes were offered 90 cents on the dollar in new debt and equity in an out- of-court exchange that expired at 11:59 p.m. yesterday in New York. They would get 70 cents on the dollar in bonds and new stock in a pre-packaged bankruptcy. “We believe they will file for bankruptcy within the week, provided nothing unexpected occurs,” Adam Steer, an analyst with CreditSights Inc. in New York, said in a telephone interview before the deadline passed. CIT, which lost $5 billion in the past nine quarters and failed to get a second round of taxpayer funding in July, sought to avert collapse by asking bondholders to agree to the swap or vote for the pre-packaged bankruptcy. It faces opposition from billionaire investor Carl Icahn, who says he’s the largest bondholder, with $2 billion in debt. If CIT is forced into a “free-fall” bankruptcy, unsecured claims may fetch as little as 6 cents on the dollar, said Peek, who plans to leave the company at yearend. Keith Rodwell, a spokesman for CIT in Sydney, declined to comment on the outcome of the debt-exchange offer. Curt Ritter, a company spokesman in New York, declined to comment yesterday. ########## HAHAHA If the go bankrupt, Icahn will only get $.68 on the dollar for what he's invested. "Carl Icahn, who says he’s the largest bondholder, with $2 billion in debt." Icahn's $2bil investment will now be worth only $1.36 billion. OUCH. ~ America is a vast conspiracy to make you happy. ~ |
Anonymous Coward User ID: 441568 United States 10/30/2009 01:51 PM Report Abusive Post Report Copyright Violation | CIT gets $1 bln line of credit from Icahn Quoting: Anonymous Coward 441568SAN FRANCISCO (MarketWatch) -- CIT Group /quotes/comstock/13*!cit/quotes/nls/cit (CIT 0.78, -0.17, -17.68%) said Friday that it got a new $1 billion line of credit from activist investor Carl Icahn. Shares of the troubled lender were halted after falling 13% to 83 cents in afternoon trading. The new credit line can be drawn by CIT on or before the end of this year. The company can still borrow from the Icahn facility if it files for bankrupcty protection from creditors, CIT added in a statement. [link to www.marketwatch.com] Translation. "They are bankrupt, all done, but we need some lipstick for this pig. We want to keep the sheeple in the dark as long as possible )-; This would make Timmy, Bo and Barney look bad." |
Anonymous Coward User ID: 789608 United States 10/30/2009 01:53 PM Report Abusive Post Report Copyright Violation | |
just waiting
User ID: 491938 United States 10/30/2009 01:54 PM Report Abusive Post Report Copyright Violation | For those who don't know who they are; CIT Group, Inc. is a bank holding company. The Company's subsidiaries provide lending, advisory, and leasing services to small and middle market businesses. CIT also operates a full service Utah state bank, as well as provides factoring services through a subsidiary. Say seeya to the small business. |
Anonymous Coward User ID: 241421 United States 10/30/2009 01:55 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 782508 United States 10/30/2009 01:58 PM Report Abusive Post Report Copyright Violation | Link pending. Quoting: Anonymous Coward 241421UPDATE 1: CNBC cable news reporting that CIT bankruptcy is certain. Estimated to take 60-90 days to sort out. CIT is not halted. :bs: It WAS halted, then reopened after the news dissemination. |