Special Cases: Parent Fails, Bank Lives
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- A Threatened Industry On The Edge Of Chaos Should Cit Group Fail. Clark, Evan; Young, Vicki M.; Ellis, Kristi; Casabona, Liza // WWD: Women's Wear Daily;7/16/2009, Vol. 198 Issue 11, p1
The article focuses on the concern over the disclosure that CIT Group Inc., which provides basic financing for thousands of small- and midsized apparel retailers and vendors, won't be rescued by a federal bailout. The disclosure raised the possibility of a bankruptcy filing by the financial...
- CIT Bankruptcy Begets Different Flavor of DIP Loan. Rozens, Aleksandrs // Bank Loan Report;11/16/2009, Vol. 24 Issue 44, p4
The article reports on the court petition requested by CIT Group Inc. which asked the judge overseeing its case to approve a 500 million dollar senior secured facility. The company states in the document that it needed to use its line of credits (LOCs) in many of its businesses, particularly its...
- Landlords say CIT bankruptcy could mar holiday season. // SCTWeek;7/31/2009, Vol. 14 Issue 30, p1
The article focuses on the potential bankruptcy of commercial lender CIT Group Inc. It states that a CIT bankruptcy could disrupt the holiday shopping season as it serves some 300,000 U.S. retailers. It informs that the federal government has provided the lender 2.3 billion dollars to keep it...
- Equipment financing. Stainburn, Samantha // Crain's Chicago Business;7/16/2007, Vol. 30 Issue 29, p20
The article presents information on the financial assistance offered by banks to business establishments in buying equipment. Banks make loans for up to 100 percent to help businesses acquire machinery, trucks, copiers, computers and other equipment. Banks also lease the equipment to the...
- DATAMONITOR: CIT Group Inc. // CIT Group, Inc. SWOT Analysis;Dec2009, p1
A company profile of CIT Group Inc., which is a bank holding company with more than 80 billion dollars in leasing and financing assets that offers commercial financing, leasing products and management advisory services to clients in over 30 industries and 50 countries, is presented. An overview...
- DATAMONITOR: CIT Group Inc. // CIT Group, Inc. SWOT Analysis;Jun2010, p1
A company profile of CIT Group Inc., which is a bank holding company with more than 80 billion dollars in leasing and financing assets that offers commercial financing, leasing products and management advisory services to clients in over 30 industries and 50 countries, is presented. An overview...
- DATAMONITOR: CIT Group Inc. // CIT Group, Inc. SWOT Analysis;Oct2011, p1
A company profile of CIT Group Inc., which is a bank holding company with more than 80 billion dollars in leasing and financing assets offering commercial financing, leasing products and management advisory services, is presented. Data is included on revenues generated in fiscal year 2010, as...
- CIT Wins Court OK of Lender Deals. // American Banker;11/24/2009, Vol. 174 Issue 211, p16
The article reports on court approval which CIT Group Inc. received from Judge Allan Gropper of the Bankruptcy Court in Manhattan, New York in November of 2009 to access $500 million in financing from Bank of America Corp. The firm will use the money to move toward exiting bankruptcy by the end...
- Audit Firm Reputation and Earnings Quality in Publicly Traded US Bank Holding Companies. Teclezion, Mussie; Muzatko, Steven // Banking & Finance Review;2015, Vol. 7 Issue 1, p33
This paper examines the association of audit quality and earnings management in publicly traded Bank Holding Companies (BHCs). A bank's management has the opportunity to overstate (or understate) net income through discretionary accruals. External audits provide a means to constrain the earnings...
