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Detail
ArtikelCIT Is Everyone's Headache  
Oleh: Vickers, Marcia
Jenis: Article from Bulletin/Magazine
Dalam koleksi: Fortune vol. 157 no. 8 (Apr. 2008), page 12.
Topik: Capital Redifined; Jeffery Peak; Market Lender
Ketersediaan
  • Perpustakaan Pusat (Semanggi)
    • Nomor Panggil: FF16.36
    • Non-tandon: 1 (dapat dipinjam: 0)
    • Tandon: tidak ada
    Lihat Detail Induk
Isi artikelCIT group's advertisisng slogan may sum up its problem: "At CIT, we are Capital Redefined." THanks to its recent foray into subprime mortgages, CIT's capital has been radically redefined. On March 20 it was forced to draw down a $7.3 billion backup credit line. Its stock has plunged from around $60 a share earlier this year $13 on April 9, and CIT shuttered its student loan business and trying to sell of non-core business to keep a float. The decline of the century-old finance company has not gotten as much attention as the Beat Stearns bailout, but its instability could bring Wall Street's pain to Main Street. How? Factory owners, car dealers, dry cleanes, and many other businesses depend on specialty lenders like CIT for capital.
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