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From the Blogosphere
Happy 25 Cents a Share CIT Group
 Got a quarter? You're in luck, you can buy one share of CIT Group (NYSE:CIT). CIT shares are down 63% since last Friday and doomed thanks to the company's filing for the 5th largest U.S. bankruptcy on Sunday. Thank you U.S. Taxpayer, remember how we forked out $2.3 billion in TARP funds to buy CIT's common stock, those same shares that are valued at 25 Cents today? Well, kiss that money good-bye thanks to CIT's Chapter 11 filing, we aren't getting a penny back, that's right, welcome to..
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Bondholders the Big Winners as CIT Files for Bankruptcy
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By Jason Simpkins
Managing Editor
Money Morning
CIT Group Inc. (NYSE: CIT) on Sunday filed for Chapter 11 bankruptcy protection. CIT’s filing is the fifth largest bankruptcy in U.S. ...
Money Morning is here to help investors profit handsomel...
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Serious Money: Jumpy stock market but Special 'K' doing fine
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Filed under: Major movement, Analyst upgrades and downgrades, Rants and raves, Ford Motor (F), CIT Group (CIT), Kellogg Co (K), Serious Money, Headline news, DJIA, Federal Reserve, Vanguard Total Bond Market (BND)  What a week it was and it is starting off with more of the same! The day before Halloween the market gets spooked. The Dow drops 200 one day, rises 200 the next, and falls 250 to close the week. Yes, financial pundits could point to meaningful stories about the dollars rise, consumer spending sagging, the recession ending and so forth to explain market reactions but there is more t...
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Unusual 11 Mid-Day Movers 11/02: HGSI, EAC, IUSA, VRTX Higher; CIT, YRCW, GTXI, CPF Lower
CIT (NYSE: CIT) <font>63.3% LOWER;</font> As expected, over the weekend, CIT announced that, with the overwhelming support of its debtholders, the Board of Directors voted to proceed with the prepackaged bankruptcy plan. Click here for the full report.YRC Worldwide Inc. (Nasdaq: YRCW) <font>54.7% LOWER;</font> today announced that it intends to launch an exchange offer this week based upon terms discussed with representatives of a committee of the holders of its contingent convertible notes and a committee of the holders of its USF 8 1/2% notes. The successful completion of this exchange wo...
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Morning Movers 11/02: CIT, HGSI, EAC, VRTX, CTB, BC, F Higher; YRCW, GTXI, FSNM, LDK Lower
CIT (NYSE: CIT) 61% LOWER; As expected, over the weekend, CIT announced that, with the overwhelming support of its debtholders, the Board of Directors voted to proceed with the prepackaged bankruptcy plan. Click here for the full report.YRC Worldwide Inc. (Nasdaq: YRCW) <font>45.8% LOWER;</font> today announced that it intends to launch an exchange offer this week based upon terms discussed with representatives of a committee of the holders of its contingent convertible notes and a committee of the holders of its USF 8 1/2% notes. The successful completion of this exchange would allow the c...
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About CIT Group Inc.
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