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Non-Tech : Tyco International Limited (TYC)
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To: blankmind who wrote (3231)4/29/2002 8:24:44 AM
From: GVTucker  Read Replies (1) of 3770
 
blankmind, RE: crawford, if cit nets tyco no more than $3 bill, I'll stick strictly to mutual funds from now on - c'mon - they're doing $900-$1 bill/year in profits -

CIT isn't close to $900mm in profits.

They released the 2Q02 earnings in the S-1. CIT earnings for the 2Q02 were $157.3mm. This compares to net income of $160.1mm in 2Q01. In addition, you aren't going to see any improvement soon, most probably. Credit quality is still getting worse at CIT, in contrast to a lot of competitors. Both net credit losses and deliquencies rose.
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