Latest Company Intelligence

• CIT to start offering online banking this fall 
  Yahoo! Finance  | Sep 14,'11
  On Wednesday September 14, 2011, 1:48 pm NEW YORK (AP) -- CIT Group Inc. plans to begin offering online banking to consumers in the "next month or two," a big step away from its main business of commercial lending. Speaking at the Barclays Capital conference in New York, CEO John Thain said the move was part of the company' push to increase its assets through deposits.
• CIT to soon take deposits by Internet: CEO 
  Lessors Network  | Sep 14,'11
  Sept 14 (Reuters) - CIT Group Inc (CIT.N) will begin taking bank deposits over the Internet within the "next month or two," Chief Executive John Thain said on Wednesday. Thain, speaking at a Barclays Capital conference in New York, said he and other employees of the lender to small- and medium-sized businesses have made deposits to test the system in recent days. The deposits are
• CIT Will Focus on Expansion After Shrinking Balance Sheet, CEO Thain Says 
  Bloomberg.com  | Sep 14,'11
  CIT Group Inc. (CIT) will focus on expansion, Chief Executive Officer John Thain said, as the small-business lender reverses its strategy of shrinking the balance sheet since exiting bankruptcy almost two years ago.
• CIT To Begin Accepting Online Deposits 
  The Wall Street Journal  | Sep 14,'11
  NEW YORK (Dow Jones)--CIT Group Inc. (CIT) plans to begin accepting online deposits in the next two months as it looks to diversify its funding sources for commercial loans, Chairman and Chief Executive Officer John Thain said Wednesday. "We have opened the Internet funding capability up to our own employees," Thain said at a Barclays Capital conference in New York. The option will
• CIT To Redeem Remaining 2014 Series A Notes 
  News Blaze  | Sep 14,'11
  NEW YORK - (BUSINESS WIRE) - CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies, today announced that it will redeem the balance of its 7% Series A Second Lien Notes maturing in 2014 totaling approximately $460 million. After this redemption, most of the restrictive covenants granted under the Series A Second Lien Notes, as part of
• Whitney Tilson August Shareholder Letter 
  Value Investing  | Sep 2,'11
  From Whitney Tilson: September 1, 2011 Dear Partner, Our fund declined 13.7% in August vs. -5.4% for the S&P 500, -4.0% for the Dow and -6.4% for the Nasdaq. Year to date, it's down 22.1% vs. -1.8% for the S&P 500, +2.1% for the Dow and -2.2% for the Nasdaq.

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