CIT Group Inc (CIT)

Add a New Bulls Reason Company: CIT Group Inc (CIT) Current price: Headline: (100 character max) Analysis: Cancel 61% agree 196 votes   Asset sales may bring investor interest back Top Contributor: Jack Bass | Created when NYSE:CIT was $8.56 | Edit | History In an effort to raise cash, CIT Group said that it has reached separate agreements to sell its home-lending business and manufactured-housing business for a total $1.8 billion. “These sales complete our exit from all home-lending business, removing the uncertainty surrounding this asset class and advances our strategic transformation into a company focused entirely on commercial finance,” said CEO Jeffery Peek. The commercial-finance company will sell its home-lending business to hedge fund Lone Star for $1.5 billion and its $470 million anufactured housing portfolio to Vanderbilt Mortgage & Finance (a Berkshire Hathaway (BRK.B) company) for $300 million. Lone Star also agreed to assume $4.4 billion of debt and other liabilities in the sale, expected to close this month. (100 character max) Cancel 2% agree 42 votes   BIG BULL Created when NYSE:CIT was $0.72 | Edit | History If the Government will help out the BIG autos why not CIT? They will not let them fall. I think it will sky rocket!!! (100 character max) Cancel 2% agree 43 votes   dropping 75% gives hope to a new rise Created when NYSE:CIT was $0.76 | Edit | History the next step would be bankruptcy, which can usually be steered clear of for the short term if the execs take some fast risks. (100 character max) Cancel

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