Small Talk: Jobs data contradictory

November 10, 2009

Over the last week there have been some wins and losses for small businesses in terms of new job data.

CIT bankruptcy could have domino effect

November 3, 2009

Small and medium-sized businesses are wild with concern that the bankruptcy filing of CIT Group will cut off the financing they use to pay employees and creditors, according to an attorney who has many apparel and retail businesses among his clients.

CIT = more bad news for small business

November 2, 2009

Just when it looked like President Obama was making some headway with small business, along comes the CIT bankruptcy train to derail everything.

from DealZone:

Icahn takes a shot at CIT “Tammany Hall” financing

October 19, 2009

As if CIT didn't have enough problems digging itself out of a credit morass, now it has Carl Icahn to contend with. Troubled by what he sees as sweetheart deals between CIT and its largest creditors, at the expense of the little-guy bondholder, Icahn has offered to underwrite the $6 billion the small-business lender says it needs to survive. Icahn's offer sent CIT shares soaring by double digits ... to well above a dollar.

from DealZone:

Lending CIT a hand

July 20, 2009

An almost heart-warming effort is being mustered by CIT bondholders to keep the troubled lender from getting put under the TARP or stumbling into a much-anticipated bankruptcy. Some $3 billion in survival cash is seen in the pipeline -- money that could strengthen CIT's finances and allow it more time for a debt restructuring. An announcement is expected before the markets open this morning.

peHUB: If CIT goes down, these companies may be hurting

July 16, 2009

peHUB’s Erin Griffith reports:

Buyouts Senior Editor Ari Nathanson and I compiled a list of buyout-backed companies which have used CIT as a lead arranger on its credit facility over the last three years, courtesy of Thomson Reuters data.

from DealZone:

CIT’s strong hand

July 15, 2009

CIT, the small-business financing company that provides funding for airlines, railways, retailers and manufacturers, should have little trouble securing some kind of government aid, whether in the form of a short-term loan, as seems to be the most likely scenario, or even a TARP or FDIC bailout.