NEO Biz Blog: CIT Hanging in There. {So Far}

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July 18, 2009

CIT Hanging in There. {So Far}

From Cleveland.com;

"CIT is in talks with JPMorgan Chase & Co., Goldman Sachs and Morgan Stanley about receiving short-term financing that may help it avoid filing for Chapter 11 protection, a person familiar with the talks told The Associated Press. The person spoke on condition of anonymity because the talks are confidential.

CIT has been scrambling to raise $2 billion to $4 billion after the federal government refused to bail out the company, one of the nation's largest lenders to small and midsize businesses."

Posted by The Franchise King on July 18, 2009 at 09:53 PM | Permalink

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