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Editor’s Choice Posts

From the Print Edition

  • News From Citizens Business Bank
    May 24, 2011
    CitizensTrust Receives Recognition in Los Angeles Magazine 2011 Five Star Wealth Managers Publication CVB Financial Corp. is proud to announce that Sean Kraus, Charted Financial Analyst from CitizensT …
  • Farmers & Merchants Bank Donates $11,000 to Long Beach Neighborhood Association
    May 24, 2011
    Farmers & Merchants Bank, serving the South Bay communities with locations in Torrance and Palos Verdes, recently donated $11,000 to the Willmore City Heritage Association (WCHA) in early February …
  • Banking on the South Bay
    May 24, 2011
    Classic Wisdom Prevails for Local Bankers By David Whitehead and Brian Simon The last time Business Insider Magazine chatted with executives from several small- to medium-sized financial institutions …
  • My Business is Worth What?
    May 24, 2011
    California Association of Business Brokers says know the value of your business Sacramento, CA — The California Association of Business Brokers (CABB- a non profit trade organization) says if you are …
  • The “Profits of Doom” Deliver Hope
    May 24, 2011
    Contrarian Economists By David Whitehead Economist Nouriel Roubini was dubbed the “prophet of doom” when he tried to warn the financial community they were building a house of cards with the Real Esta …

Management Insider

  • My Business is Worth What?
    May 24, 2011
    California Association of Business Brokers says know the value of your business Sacramento, CA — The California Association of Business Brokers (CABB- a non profit trade organization) says if you are …
  • Cutting Edge Strategic Planning For Small Business Survival
    November 29, 2009
    STRATEGIC PLANNING Large companies place resources and focus on strategic planning at least once a year. Small businesses seldom complete a strategic plan. Yet in every way, planning is just as impo …
  • CalChamber Goes to Court to Protect Businesses from Additional Wage-and-Hour Lawsuits
    November 20, 2009
    (The California Chamber of Commerce) The California Chamber of Commerce is urging the 9th Circuit Court of Appeal to reverse a district court ruling that could result in numerous more wage-and-hour la …
  • Ten Questions with Jeffrey Pfeffer
    November 12, 2009
    (How to Change the World) Jeffrey Pfeffer is the Thomas D. Dee II Professor of Organizational Behavior at the Graduate School of Business, Stanford University. He is the author or co-author of twelve …
  • 3 Things that Stop Sales
    November 6, 2009
    How comfortable are you in asking people to become a paying client? Once you know what’s getting in your way, it will be easier to overcome these issues. By Kaya Singer (BizNik) If you own a sm …

Marketing and Sales Insider

  • The Secret to Making Your Brand Truly Great
    November 20, 2009
    By Dan Huston Although many business leaders are obsessed with the concept of branding, few really understand what it means to develop a successful brand. Here’s what it really takes. (Biznik) H …
  • Your New Economy Customer
    November 13, 2009
    Recession Springboarding! By Tommy Jaye Positioning your business for the economic recovery starts now! It’s no longer “business as usual.” Small business owners and entrepreneurs …
  • Understanding the Buzz Around Social Media
    November 12, 2009
    Finding the Right Social Media Mix By Baltej Gill You might have heard that social media can help build your brand, promote your product and services, help collect feedback from your customers, incre …
  • 3 Things that Stop Sales
    November 6, 2009
    How comfortable are you in asking people to become a paying client? Once you know what’s getting in your way, it will be easier to overcome these issues. By Kaya Singer (BizNik) If you own a sm …
  • Stage Your Business to Sell
    November 4, 2009
    (Sacramento) – Before you put your business on the market to sell, be sure you are prepared so you can get the best price possible. The California Association of Business Brokers (CABB – a non-profit …

Legal Insider

  • RB Chamber Helps Stop Anti-Job Proposal
    November 4, 2009
    AB 793 and AB 943, two harmful legislative proposals that would have put businesses in Redondo Beach, were defeated in October when the Governor vetoed both pieces of legislation. The Cham …
  • 7 Simple Ways to Law-Proof Your Business
    October 27, 2009
    By Kurt Andrew Schlichter, Esq. The article appeared in Business Insider Magazine’s first issue of 2009 While the economic downturn will increase most businesses’ exposure to legal problems, it …
  • Protect Yourself When Making Written Offers
    October 20, 2009
    By DeAnn Flores Chase Attorney at Law There are many reasons why a business owner should have legal counsel when starting a business.  The following is an example based on a true story:An owner of re …
  • 7 Steps to Surviving a Lawsuit
    October 6, 2009
    By Kurt Schlichter, Esq, Attorney at Law This article appeared in Business Insider Magazine in the second issue of 2009 As the economy worsens, more businesspeople find themselves being sued.  Ge …

Human Resources Insider

  • Truer U.S. unemployment rate is 17.5%
    November 6, 2009    (The Ticker – The Washington Post) Each month, as regular readers know, I like to unpack the new unemployment number and get behind the data. The news this month continues to be grim. Indeed, it …
  • Workplace Poster Needs Updating
    November 6, 2009    Required Updates Due to EEOC Notice Change (The California Chamber of Commerce) A new mandatory change to the Equal Employment Opportunity Commission (EEOC) notice in the Employment Notices Poster mus …
  • House Democrats Prepare For Close Healthcare Vote
    November 5, 2009    WASHINGTON (Reuters – The New York Times) – Democratic leaders in the U.S. House of Representatives hustled on Thursday to count votes and round up support for a sweeping healthcare overha …
  • Health Plan “Hurts More Than Helps”
    November 5, 2009    (Long Beach Area Chamber of Commerce)  Consider the plight of the hard-working employee who’s earned the right to obtain benefits from their employer after years of loyal service – a coverage plan tha …
  • CalChamber Partners to Train Employees
    November 4, 2009    CalChamber Keeps California Companies Competitive; New Partnership With ETP Will Facilitate Training for Thousands of Employees Statewide The California Chamber of Commerce and the Employment Training …

Real Estate Insider

  • Regulatory Roshambo
    May 23, 2011
    Overreaction Creates Absurdity in Mortgage Lending By Ken Roberts How many times do we have to hear about how the pendulum had swung too far in the “loose lending” direction and now is moving too far …
  • Mortgage Holders Rent Back Their Homes
    November 5, 2009
    Fannie Mae: “Deed For Lease” Program Will Let Thousands Rent Out Homes To Avoid Foreclosure By Alan Zibel (Associate Press – The Huffington Post) Thousands of borrowers on the verge …
  • Goldman’s new role: taking away people’s homes
    November 2, 2009
    By Greg Gordon (McClatchy Newspapers) SAN JOSE, Calif. — When California wildfires ruined their jewelry business, Tony Becker and his wife fell months behind on their mortgage payments and experienced …
  • Wilbur Ross: ‘Huge’ Commercial Real Estate Crash
    October 30, 2009
    (Bloomberg) Billionaire investor Wilbur L. Ross Jr., said today the U.S. is in the beginning of a “huge crash in commercial real estate.” “All of the components of real estate value are going in the …
  • New home sales fall 3.6%
    October 28, 2009
    (Associated Press – Los Angeles Times) WASHINGTON – Sales of new homes dropped unexpectedly last month as the effects of a soon-to-expire tax credit for first-time owners started to wane. …
Citizens Business Bank
« Manhunt is on for Club Sushi Owners  
  Wilbur Ross: ‘Huge’ Commercial Real Estate Crash »

Carl Icahn lends CIT a hand

The embattled small business lender gets a $1 billion credit line from a onetime foe as it tries to push through a restructuring plan.

carl_icahn_f.03[1]By David Ellis

(CNNMoney.com) Small business lender CIT Group got a hand Friday from a most unlikely source: a billionaire activist investor who has spent the past month trying to foil the company’s restructuring plans.

New York-based CIT (CIT, Fortune 500) said Friday it reached an agreement under which Carl Icahn will support the firm’s restructuring. Icahn’s hedge fund firm, Icahn Capital LP, will also provide CIT with a $1 billion credit line.

The credit line can be used as debtor-in-possession financing if CIT ends up filing for Chapter 11 bankruptcy protection — as the company has threatened to do should bondholders fail to support its restructuring plan.

CIT wants to restructure its debt to slash its borrowings by $5.7 billion. Bondholders who sign off on the plan would get a smaller amount of new bonds and equity in the revamped firm, without forcing CIT to go through the bankruptcy courts.

Read the Entire Article

October 30th, 2009 | Tags: , , , , , , , , | Category: Editor's Choice Posts, Finance and Economics

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