Commercial Lending Services
CIT posts $1 billion quarterly loss
Mar 16, 2010 19:56 EDT
NEW YORK (Reuters) - CIT Group Inc <CIT.N> reported a $1 billion loss in the fourth quarter on Tuesday, excluding one-time items and accounting adjustments, as the recently bankrupt commercial lender was hurt by high borrowing and credit costs.
CIT Group posts 4Q loss of $1 billion
Mar 16, 2010 19:10 EDT
CIT Group loses $1 billion in 4th quarter due to low finance revenue, high borrowing costs. CIT Group on Tuesday said it lost $1 billion in the fourth quarter, excluding a huge one-time reorganization benefit.
GE sees profit, dividend up in 2011, shares climb
Mar 16, 2010 15:46 EDT
BOSTON (Reuters) - After two rocky years and a severe global financial crisis, General Electric Co <GE.N> expects its profit and dividend to rise in 2011, the largest U.S. conglomerate's chief financial officer said.
GE Capital announces debt tenders
Mar 03, 2010 14:20 EST
GE Capital expects previously announced debt tenders to settle March 5. General Electric Capital Corp. on Wednesday said it expects several debt exchange offers will settle on March 5.
CIT Group expects $900M loss in 4Q, $4B for year
Mar 01, 2010 19:19 EST
CIT Group expects $900M fourth-quarter loss, $4B for year, but bankruptcy reorg should offset. CIT Group Inc., a commercial lender forced into bankruptcy protection last year as customers fell behind on repaying loans, said Monday that it expects to report a loss of about $900 million in the fourth quarter and about $4 billion for the year.
Hollywood and hedge funds: Bank crisis CEOs return
Feb 25, 2010 11:29 EST
LONDON (Reuters) - From moviemaking to architecture, the shamed and banished CEOs of the 2008 credit crisis have opted for some unusual career paths, either by choice or necessity.
Blackstone to cut Hilton debt by almost $4 billion
Feb 24, 2010 09:29 EST
NEW YORK (Reuters) - Private equity firm Blackstone Group LP <BX.N> will cut the $20 billion debt load of its hotel chain, Hilton Worldwide Inc, by almost $4 billion in a restructuring, according to court documents.
CIT names ex-Merrill CEO Thain as chairman, CEO
Feb 08, 2010 16:34 EST
CIT Group names former Merrill Lynch CEO John Thain to lead as chairman and CEO of lender. John Thain is getting a second chance.
CIT, emerging from bankruptcy, hires Thain as CEO
Feb 07, 2010 21:07 EST
NEW YORK (Reuters) - CIT Group Inc <CIT.N> has hired former Merrill Lynch CEO John Thain as its new chief executive, the commercial lender said late on Sunday, wagering that the well-traveled executive can guide its post-bankruptcy turnaround.
Evercore Partners reverses 4Q loss; revenue jumps
Feb 02, 2010 17:04 EST
Evercore reverses 4Q loss, advising on GM, CIT restructurings & Wyeth takeover boosts revenue. Boutique investment management and M&A advisory firm Evercore Partners Inc. reported a fourth-quarter profit on Tuesday, reversing a year-ago loss, as the company's assistance on huge deals for Wyeth, Hearst and General Motors generated tens of millions in revenue.
CIT Group COO Mason to leave Feb. 26
Feb 01, 2010 17:26 EST
CIT Group President, COO Alexander Mason is latest to depart lender CIT post-bankruptcy. CIT Group Inc., one of the nation's largest lenders to small and mid-sized businesses, said Monday that President and Chief Operating Officer Alexander T. Mason will leave the company later this month.
CIT COO Mason to step down
Feb 01, 2010 17:18 EST
NEW YORK (Reuters) - CIT Group, a commercial lender that recently emerged from bankruptcy, said its president and chief operating officer, Alexander Mason, will step down later this month.
Premarket roundup: Intel tops exp
Jan 15, 2010 09:20 EST
Premarket roundup: Intel tops estimates in 4Q, but '10 could see challenges; Comerica upgraded. Among the premarket stories for Friday, Jan. 15, from AP Financial News:
CIT Group names 3 more outsiders to board
Jan 12, 2010 11:51 EST
CIT Group names 3 outsiders in shift to a more independent board after bankruptcy. CIT Group Inc. on Tuesday announced the appointments of three outsiders to its board of directors and the resignation of two others, completing a shift to a more independent board to guide the commercial lender's restructuring.
2009 US corporate bankruptcies hit third-largest total
Jan 07, 2010 11:37 EST
The number of US corporate bankruptcies spiked to 207 last year, the third-largest total on record, led by the massive General Motors filing, a research firm said Thursday.
CapitalSource nets $119M from HUD mortgage deal
Dec 29, 2009 10:24 EST
CapitalSource gets $119 million in proceeds from HUD mortgages on long-term care facilities. Commercial lender CapitalSource Inc. on Tuesday said it received about $119 million in cash proceeds after closing mortgages backed by the Department of Housing and Urban Development.
55 companies miss payment of TARP dividends: study
Dec 23, 2009 14:55 EST
NEW YORK (Reuters) - Fifty-five financial companies failed to pay dividends in November on money they borrowed from the U.S. government, bank research firm SNL said on Wednesday.
CIT's CFO follows CEO in retiring
Dec 22, 2009 12:04 EST
NEW YORK (Reuters) - The chief financial officer of CIT Group Inc <CIT.N> is retiring, adding another executive search for a board that is already looking for a chief executive officer.
CIT Group CFO retires, 4 new directors named
Dec 22, 2009 10:12 EST
CIT Group CFO retires, company names 4 independent directors, bringing board to 11. CIT Group Inc. on Tuesday said its chief financial officer is retiring, and added it is closer to filling out its new board.
CIT Group cites progress filling new board slots
Dec 18, 2009 12:19 EST
CIT Group cites progress in filling post-bankruptcy board, sees expense cuts. CIT Group Inc. said Friday it has made progress identifying seven independent directors recommended by bondholders to serve on its board and help guide the lender's restructuring.
