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Strategies & Market Trends : Waiting for the big Kahuna

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To: fred woodall who wrote (91013)	10/30/2009 1:48:58 PM
From: No Mo Mo	of 94695

"CIT filed." <?> news.ino.com CIT Group receives $1 billion loan from Icahn 9 minutes ago (AP:NEW YORK) CIT Group says billionaire investor and bondholder Carl Icahn has agreed to support its restructuring plan and will provide the company with a $1 billion line of credit. The agreement was reached Friday, a day after CIT's debt restructuring offer expired. Icahn has been an outspoken critic in recent weeks of New York-based CIT Group's plan to restructure its debt in an effort to avoid collapse. CIT, one of the largest lenders to small and midsized business, has been trying to reduce its near-term costs in recent months as it struggles to survive.

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