0
POPSMajor Lender Faces Crunch July 11, 2009 
CIT is registered as a bank holding company and has a bank in Utah with roughly $3.5 billion in deposits. But to get most of its funds to lend, it has historically relied on bonds and the short-term debt market known as commercial paper. It has been largely unable to tap the credit markets since mid 2007 and is trying to raise more money through its bank. The FDIC has been considering CIT's application for a federal debt guarantee since January and hasn't reached a decision. The agency is concerned about CIT's deteriorating financial position and operating losses. A few months ago, CIT hired former Deputy Treasury Secretary Roger Altman and his boutique investment bank Evercore Partners to try to get more TARP funds or find another financial solution with the government, said the people familiar with the matter. One problem with getting more aid is that the government has made it clear it doesn't see the company as a systemic risk to the financial system.
0
POPSSeyfarth Shaw Hires for Atlanta Office Seyfarth Shaw, which last week brought on a new team of corporate and technology partners from Alston & Bird, is expanding its Atlanta office with lawyers poached from Troutman Sanders.
0
POPSNow Hiring: Lehman Behind the scenes is Mr. Fuld, the firm's former chairman and chief executive, who was widely vilified when Lehman collapsed in mid-September. Though Mr. Fuld was removed from the payroll on Jan. 1 and relieved of his company-provided black Mercedes, Lehman has agreed to let him keep an office at the firm. He's just around the corner from Mr. Marsal, who says he picks Mr. Fuld's brain about Lehman's business several times a week. "We asked him to stay if he has nowhere better to go," says Mr. Marsal. "He's been very good about making himself available for questions about Lehman assets." Through a spokeswoman, Mr. Fuld declined to comment. Mr. Marsal says the goal is to dissolve the firm in 18 to 24 months from now, though several restructuring experts say that's an aggressive timetable. Alvarez & Marsal got the gig in September after Lehman's board appointed it to administer the bankrupt company's estate.
0
POPSWeb design outsourcing company Website design company India providing professional web design outsourcing services. Hire web designer for corporate website design and development, ecommerce web design solution, web design maintenance and professional web 2.0 design work. Contact us for free web design quote at Viteb.com
0
POPSLaw Firms Get Down to Business Not every hire at Microsoft is a software engineer, right? To compete, any business needs experts to finance and marketing. Law firms are learning that lesson at a faster pace than in years past, hiring more and more MBAs to run the business side of their operation previously left in the hands of senior partners. - Tom Van Riper
0
POPSFlying You'd think with everyone inside from the storm my bandwidth would shrink.
1
Pops
Newest Clips
Latest Comments
Most Pops
Print
Save
Turn on live update