CIT Group Files for Chapter 11 After Debt Plan Rejected
CIT Group filed for Chapter 11 in New York seeking a prepackaged restructuring to cut about 10 billion in debt and speed exit. The move aims to keep loans flowing to small and mid size businesses while major bondholders back the plan. Government stake losses are likely as common and preferred stockholders are wiped out.
MENTIONED IN THIS ARTICLE
Washington
CIT Group
CIT
New York
U.S
Lehman Brothers
Washington Mutual
WorldCom
General Motors
Jeffrey Peek
Peek
Treasury Department
Andrew Williams
FMR LLC
Boston
San Diego
Karzai to secure second term after Abdullah quits runoff
Incumbent Hamid Karzai appears set for a second five year term after former foreign minister Abdullah Abdullah dropped out six days before the November runoff. The Obama administration signaled readiness to work with the Karzai government to combat corruption and address the Taliban, as U S forces face a deadly year and debates over a surge of troops.
MENTIONED IN THIS ARTICLE
Afghanistan
Hamid Karzai
Abdullah Abdullah
Abdullah
Kabul
Karzai
Obama
Barack Obama
U.S
United States
United Nations
Man
U.N
David Axelrod
Rescue under way after boat sinks near Cocos Islands
About two dozen missing after a boat carrying around 40 sank in open seas near the Cocos Islands, 1,500 miles northwest of Australia. A merchant ship plucked 17 survivors in a distress response, with authorities unsure if asylum seekers were aboard.
MENTIONED IN THIS ARTICLE
Sydney
Australia
Indian Ocean
Home Affairs
Brendan O’connor
Cocos Islands
Australian
Indonesia
O’connor
Election Roundup Signals From Tuesday Races Across States
A look at Virginia, New Jersey, New York, Ohio, Maine, and California shows how independents and the recession influence local votes. The piece notes Obama’s coattails, party loyalty, and potential shifts for 2010 contests amid GOP fractures in New York’s 23rd District and broader national sentiment.
MENTIONED IN THIS ARTICLE
Washington
Barack Obama
Congress
White House
Obama
Senate
House
Virginia
New Jersey
New York
California
New York City
Atlanta
Maine
Ohio
Jon Corzine
R.oreign Deeds
Corzine
Chris Daggett
Chris Christie
Deeds
Bob McDonnell
23Rd
GOP
Republican Party
Dierdre Scozzafava
Doug Hoffman
Bill Owens
Scozzafava
Hoffman
Owens
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GIT
Gilbert CT
Iowa City
Kevin Rudd
Iraq
Iran
Sri Lanka
Christmas Islands
Australian Maritime Safety Authority
LNG Pioneer
Rhianne Robson
1St Ave
Turn
Ted Baker
LuLu Guiness
THE
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