Business Events Bankruptcy


  • CIT Seeks Up to $3 Billion to Avoid a Bankruptcy Filing Thursday, 16 Jul 2009 | 2:57 PM ET

    CIT, the finance company struggling to avoid a Chapter 11 filing as soon as tomorrow, is seeking to line up between $2 to $3 billion in secured financing from private investors, CNBC has learned.

  • Video Debate: What Will Happen to CIT? Thursday, 16 Jul 2009 | 2:38 PM ET

    A bankruptcy filing for CIT is likely, sources have told CNBC, but the debate on whether CIT should receive a government bailout or be allowed to fail is still up for discussion by many CEOs and financial analysts.

  • Will CIT Take Retail With It? Thursday, 16 Jul 2009 | 2:30 PM ET

    As CIT works to avoid bankruptcy, many who track the retail industry are concerned that CIT's troubles will set off a chain reaction that will leave retailers in the lurch during the critical holiday season.

  • JPMorgan CFO: Loan Losses Stabilizing; No CIT Exposure Thursday, 16 Jul 2009 | 1:11 PM ET
    Michael J. Cavanagh

    JPMorgan Chase had impressive earnings for the quarter and is on track to continue those results in the quarters to come according to CFO Michael Cavanagh.

  • CIT Looks Set to File for Bankruptcy Thursday, 16 Jul 2009 | 8:24 AM ET
    CIT Group entrance

    I can report that CIT is likely to file bankruptcy tomorrow, though the situation remains fluid, according to a source close to the company.

  • CIT Won't Get Bailout, Raising Bankruptcy Prospect Thursday, 16 Jul 2009 | 8:19 AM ET

    CIT Group's inability to get emergency government funding raises expectations that the commercial lender will file for bankruptcy.

  • The business model of the traditional (i.e., non-distressed) private equity fund is challenged.

  • Beware GM Equity Wednesday, 15 Jul 2009 | 9:55 AM ET

    I’ve noticed today that shares of GM, which have absolutely no value, are trading up 39% to well over $1 a share. The stock no longer trades on the NYSE, but still trades over the counter.

  • Cramer’s Latest Bull Market Monday, 13 Jul 2009 | 6:18 PM ET

    It’s a unique call, to say the least, but the numbers don’t lie.

  • Rival Bidder for GM's Opel Says Deal is Near Monday, 13 Jul 2009 | 9:27 AM ET

    General Motors’ plan to sell its European operations to a Canadian auto parts maker and a Russian bank appeared Monday to be in trouble, when another bidder said it was nearing a deal for the unit, the New York Times reported.

  • M&A is not dead, it has just moved from the boardroom to the bankruptcy court.

  • Stocks Log Fourth Straight Down Week Friday, 10 Jul 2009 | 8:07 PM ET

    Stocks racked up their fourth straight down week Friday as a Chevron profit warning exacerbated earnings worries. Techs got a boost from an upgrade on the hardware sector.

  • GM CEO Henderson Says New GM Must Succeed Friday, 10 Jul 2009 | 4:44 PM ET
    Fritz Henderson

    GM CEO Fritz Henderson told CNBC Friday that the new GM must succeed and he said that he believes that the company will do just that.

  • Chevron Drags on Dow; Techs Turn Mixed Friday, 10 Jul 2009 | 1:07 PM ET

    Stocks were mixed Friday as a Chevron profit warning exacerbated earnings worries but an upgrade on the hardware sector boosted tech stocks.

  • GM CFO Young: No Positive Cash Flow Until 2010 Friday, 10 Jul 2009 | 1:00 PM ET

    On the day GM emerged from bankruptcy, company CFO Ray Young told CNBC Friday that the new GM won't be seeing real cash flow until sometime in 2010.

  • A Muscle Car to the Rescue for General Motors Friday, 10 Jul 2009 | 11:04 AM ET
    2010 Chevy Camaro

    Amid the gloom of bankruptcy and a miserable market for new vehicles, G.M.’s  new Chevrolet Camaro muscle car is winning over consumers looking for a little excitement in a bland landscape of look-alike sedans and watered-down sport utilities.

  • Stocks Open Lower After Chevron Warning Friday, 10 Jul 2009 | 10:11 AM ET

    Stocks opened lower Friday as Chevron's earnings warning added to investors' worries about earnings and the economic recovery.

  • What's Behind This Morning's Weakness Friday, 10 Jul 2009 | 9:31 AM ET

    Just off the lows of the day, futures point to a slightly lower open on this last trading day of the week. The markets are on pace for their fourth straight week of declines – their longest losing streak since February/March.

  • Futures Lower; Chevron Adds to Market Gloom Friday, 10 Jul 2009 | 9:15 AM ET

    Futures pointed to a modestly lower open for Wall Street on Friday as Chevron's earnings warning added to investors' uncertainty on corporate earnings.

  • New GM Emerges in One of Worst Sales Slumps Ever Friday, 10 Jul 2009 | 8:49 AM ET
    GM auto dealership with sign.

    Once the world's largest and most powerful automaker, new GM is now cleansed of massive debt but faces a daunting task as car sales are in the worst slump in 25 years.