The sports retailer seeks a reorganization deal with lenders.» Read More
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.
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.
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 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.
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 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.
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.
It’s a unique call, to say the least, but the numbers don’t lie.
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 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 Fritz Henderson told CNBC Friday that the new GM must succeed and he said that he believes that the company will do just that.
Stocks were mixed Friday as a Chevron profit warning exacerbated earnings worries but an upgrade on the hardware sector boosted tech stocks.
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.
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 opened lower Friday as Chevron's earnings warning added to investors' worries about earnings and the economic recovery.
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 pointed to a modestly lower open for Wall Street on Friday as Chevron's earnings warning added to investors' uncertainty on corporate earnings.
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.