CIT Group Inc

As Robert Perkinson points out in "Texas Tough," his very readable history of U.S. prisons, locking up peo­ple is big business. America sends more people to prison per capita than any other country in the world, lock­ing up about one out of every 100 people. He also shows that when it comes to prisons, no state does it better -- or worse, de­pending on your outlook -- than Texas.

an institution that houses convicted lawbreak­ers for protracted, precisely measured periods of time -- is a product only of the mod­ern age   -Robert Perkinson

 

Bruce Berkowitz focuses his investments in a relatively small number of companies. He thinks that the more diversified the portfolio, the more likely the performance will be average. He likes to beat the average by choosing companies with great managers, and deeply undervalued stocks.  

Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market: NYSE: MGM Mirage, up 85 cents at $6.69 The casino operator said an amendment to a credit agreement has erased doubts about its near-term ability to continue operating. Monsanto Co., down $3.14 at $76.16 The world's biggest seed maker said its third-quarter profit fell 14 percent and disclosed plans to cut 900 jobs. February 19th, 2010 Boeing sends more than 1,000 layoff noticesCHICAGO — Bo  

Put traders pummeled CIT Group Inc. (CIT) on Thursday -- a session after the lender forecast a fiscal-year earnings loss (excluding items) and predicted its asset base to shrink during 2010. By the closing bell, the security had seen about 11,000 puts change hands, more than quadrupling its projected single-session volume of roughly 2,500 puts. In the April series of options – which assumes front-month status on Monday – traders targeted the at-the-money 37 strike, which saw more than 6,000 puts exchang  

The whispering has now ended on stage and only the PATSIES remain. They stand nervously clutching their newly minted Swap contracts. This is the stage where the PATSY finds him trapped by something unexpected.

2011 will be the exciting year   -James Ferguson

 

 

Bruce Berkowitz focuses his investments in a relatively small number of companies. He thinks that the more diversified the portfolio, the more likely the performance will be average. He likes to beat the average by choosing companies with great managers, and deeply undervalued stocks.  

Bloomberg reports that CIT Group Inc. (NYSE: CIT ) CEO, John Thain, plans to retain the company's aircraft finance unit during the next round of asset sales. Earlier, C. Jeffrey Knittel, President of CIT's transportation finance business, said, "CIT Aerospace is going to be a core piece of CIT for the future. John Thain has decided this business is core." Knittel's comments came during a meeting of the International Society of Transport Aircraft, which was held on Tuesday.  

CIT released its long awaited 10-K, which provided investors the details behind its fresh start accounting and laid out the company's expectations for 2010. To access this item, please log in or sign up for a free trial below: Formed in November 2000, CreditSights provides independent credit research and strategy. Free trials are available for a limited period.  

From Binyamin Appelbaum and David Cho at the WaPo: [H]undreds of community banks have yet to return their bailouts. More than 10 percent of the 700 banks that got federal bailouts and are still holding the money even failed to pay the government a quarterly dividend in February. The list of 82 delinquent banks is significantly longer than the 55 banks that failed to make payments in November, according to an analysis by Linus Wilson, a finance professor at the University of Louisiana at Lafayette.