Icahn offers to loan CIT $6 billion Oct 21, 2009
Its customers range from Dunkin' Donuts franchisees to department store operator Dillards Inc. It is also a short-term financier to about 2,000 vendors that supply merchandise to 300,000 stores. HonoluluAdvertiser. (Honolulu Advertiser)
Icahn offers CIT Group a $6 billion loan Oct 20, 2009
Its customers range from Dunkin' Donuts franchisees to department store operator Dillards Inc. It is also a short-term financier to about 2,000 vendors that supply merchandise to 300,000 stores, according to the National Retail Federation. Garth Snider, president of FranchiseOpportunities, an online advertising firm that works with small businesses that receive financing from CIT, said its customers need some certainty about its future. (MSNBC -- Business)
CIT Group Amends Debt Restructuring Offer Oct 18, 2009
Its customers range from Dunkin' Donuts franchisees to department store operator Dillards Inc. It is also a short-term financier to about 2,000 vendors that supply merchandise to 300,000 stores, according to the National Retail Federation. Some economists say the company's collapse could hurt a U.S. economy struggling to recover from recession. (ABC News -- Wire)
CIT Group Says CEO Peek Plans to Resign Oct 14, 2009
CIT is one of the largest lenders to small and mid-sized companies, and its customers range from Dunkin' Donuts franchisees to department store operator Dillards Inc. The company has suffered billions of dollars in losses as its borrowing costs outstripped the income it generates from lending to customers. As CIT's customers have struggled amid the recession, they have fallen behind on repaying loans, putting the company in the same predicament as many other financial institutions. (ABC News -- Business)
Press columnist to be inducted in 'Hall of Fame' Aug 20, 2009
The Dillards incorporated stand-up comedy into their stage show, and their talents as entertainers brought bluegrass to new audiences in urban clubs from L.A. to New York City, on college campuses, in movie scores, at folk festivals and on tour with mainstream rock bands and comedians. By the late '60s The Dillards had become a driving force in creating new sounds in the West Coast music environment-sometimes upsetting bluegrass purists as they amplified their instruments and added drums and... (Park Hills Daily Journal, MO)
CIT Group board OKs US$3bil rescue loan Jul 20, 2009
CIT had warned that depriving it of more federal aid could imperil about a million corporate borrowers - from Dunkin' Donuts franchisees to retailer Dillards Inc.. But the Obama administration turned down the company's request, showing it's drawing a line on federal rescues for troubled financial firms. (The Star Online, Malaysia)
CIT fighting to stay out of bankruptcy Jul 18, 2009
3 billion of bailout money in December, had warned that depriving it of more federal aid could imperil about a million corporate borrowers from Dunkin' Donuts franchisees to retailer Dillards Inc. But the Obama administration turned down the company's request, showing it's drawing a line on federal rescues for troubled financial firms. CIT bondholders had discussed their options Thursday in a conference call that involved restructuring firm Houlihan Lokey. (MSNBC -- Business)
Denial of CIT bailout unlikely to rattle markets Jul 16, 2009
3 billion of bailout money in December, has warned that depriving it of more federal aid could imperil about a million corporate borrowers - from Dunkin' Donuts franchisees to retailer Dillards Inc.. The Bush administration paid a price for its decision not to save Lehman Brothers, whose collapse helped spark the financial crisis last fall. (Anchorage Daily News)
