Business Insider Magazine - Los Angeles South Bay » lender http://www.businessinsider.us/BusinessInsider Business Insider Magazine is Your Business Publication for the Los Angeles South Bay Wed, 14 Dec 2011 05:58:19 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Carl Icahn lends CIT a hand http://www.businessinsider.us/BusinessInsider/2009/10/carl-icahn-lends-cit-a-hand/ http://www.businessinsider.us/BusinessInsider/2009/10/carl-icahn-lends-cit-a-hand/#comments Fri, 30 Oct 2009 20:08:56 +0000 Editor and Publisher http://www.businessinsider.us/BusinessInsider/?p=352 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 ... Continue Reading

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