Comments on: CIT Group to File For Bankruptcy Within Days http://wallstreetpit.com/11709-cit-group-to-file-for-bankruptcy-within-days Wed, 08 Feb 2012 22:13:42 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: editor http://wallstreetpit.com/11709-cit-group-to-file-for-bankruptcy-within-days#comment-76507 editor Sun, 01 Nov 2009 23:30:53 +0000 http://wallstreetpit.com/?p=11709#comment-76507 We have clearly pointed out in several of our CIT articles (including this one) how badly and 'incompetently run' CIT was and still is by its mngmnt and its clueless CEO J. Peek, who will most likely walk away with a fat comp for driving your shares into pink status and subsequent zero value...While we honestly relate to your difficult position as a shareholder of a junk stock ; it would be only fair to point out that diving long into a balance sheet with negative (-430%) (that's Four Hundred Thirty) profit margin ; close to (-40%) in ROE, (-$140+) Million in operating cash flow, $54 Billion in debt, and over (-$2.5) BILLION as a Net Income-Avl-to-common --- (and by the way...we aren't talking here, last week or last quarter's data, more like trailing twelve) --- it seems to us that the only logic driving investor-inclination toward this trade is either dump it if u already own the shares, or short the heck out of 'em. It's a no brainer. Looking at the statistical analysis of the correlation between the co.'s fragile deteriorating biz conditions and stock performance the outcome is quite obvious. Clearly, applying linear thinking under these dynamics is a mistake. In terms of the article being contradictory and devoid of intelligence..that's simply not fair. We're accurately reporting the facts as they develop. Nothing more, nothing less. Again, we respect your opinion, but couldn't more strongly disagree with insinuations made which are completely unfounded. We have clearly pointed out in several of our CIT articles (including this one) how badly and ‘incompetently run’ CIT was and still is by its mngmnt and its clueless CEO J. Peek, who will most likely walk away with a fat comp for driving your shares into pink status and subsequent zero value…While we honestly relate to your difficult position as a shareholder of a junk stock ; it would be only fair to point out that diving long into a balance sheet with negative (-430%) (that’s Four Hundred Thirty) profit margin ; close to (-40%) in ROE, (-$140+) Million in operating cash flow, $54 Billion in debt, and over (-$2.5) BILLION as a Net Income-Avl-to-common — (and by the way…we aren’t talking here, last week or last quarter’s data, more like trailing twelve) — it seems to us that the only logic driving investor-inclination toward this trade is either dump it if u already own the shares, or short the heck out of ‘em. It’s a no brainer. Looking at the statistical analysis of the correlation between the co.’s fragile deteriorating biz conditions and stock performance the outcome is quite obvious. Clearly, applying linear thinking under these dynamics is a mistake.

In terms of the article being contradictory and devoid of intelligence..that’s simply not fair. We’re accurately reporting the facts as they develop. Nothing more, nothing less. Again, we respect your opinion, but couldn’t more strongly disagree with insinuations made which are completely unfounded.

]]> By: Elliott A http://wallstreetpit.com/11709-cit-group-to-file-for-bankruptcy-within-days#comment-76443 Elliott A Sun, 01 Nov 2009 15:13:40 +0000 http://wallstreetpit.com/?p=11709#comment-76443 This bankrupcy has been on the cards for a long time, it wasnt the media that killed it.. in no way can you blame the media. It was the firms mis-management, and yes all stock investors shouldnt get anything because thats what buying stocks are and what you risk with it. If you dont like that, then go into bonds with your 401K plan if its so important perhaps you should have controlled your risk better. This bankrupcy has been on the cards for a long time, it wasnt the media that killed it.. in no way can you blame the media. It was the firms mis-management, and yes all stock investors shouldnt get anything because thats what buying stocks are and what you risk with it. If you dont like that, then go into bonds with your 401K plan if its so important perhaps you should have controlled your risk better.

]]> By: TARPforPunchBowlTURDS http://wallstreetpit.com/11709-cit-group-to-file-for-bankruptcy-within-days#comment-76440 TARPforPunchBowlTURDS Sun, 01 Nov 2009 14:52:37 +0000 http://wallstreetpit.com/?p=11709#comment-76440 CIT Group failed many times, but hopefully this time it is forever. This bankruptcy is long overdue. Why we keep propping up TURDS like CIT Group I will never understand. CIT Group failed many times, but hopefully this time it is forever. This bankruptcy is long overdue. Why we keep propping up TURDS like CIT Group I will never understand.

]]> By: robobaby http://wallstreetpit.com/11709-cit-group-to-file-for-bankruptcy-within-days#comment-76438 robobaby Sun, 01 Nov 2009 14:40:59 +0000 http://wallstreetpit.com/?p=11709#comment-76438 "Has nobody thought about all the millions of shareholders like myself, even CIT executives who own a lot of common stock, and thousands of 401k’s filled with CIT stock that now will devastate millions of people because of all of this bakruptcy talk for month by a very bissed and criminal media out there seemingly hell-bent on seeing total dustruction of this corp and its stock as well as affect onto millions of small family investors in the process…??!" Yes. And what we thought was: "Serves the idiots right for chasing a crap stock up a stripper pole without knowing what they bought." “Has nobody thought about all the millions of shareholders like myself, even CIT executives who own a lot of common stock, and thousands of 401k’s filled with CIT stock that now will devastate millions of people because of all of this bakruptcy talk for month by a very bissed and criminal media out there seemingly hell-bent on seeing total dustruction of this corp and its stock as well as affect onto millions of small family investors in the process…??!”

Yes. And what we thought was: “Serves the idiots right for chasing a crap stock up a stripper pole without knowing what they bought.”

]]> By: Steve http://wallstreetpit.com/11709-cit-group-to-file-for-bankruptcy-within-days#comment-76431 Steve Sun, 01 Nov 2009 13:15:32 +0000 http://wallstreetpit.com/?p=11709#comment-76431 This article like many in the media for weeks is pure contradictory and assanine to still read day after day. David Faber of CNBC on Friday likewise should be investigated by SEC for his all-knowing report about bondholder vote counts, when CIT itself to me in a telephone conversation, told me the votes would not be fully known until late this weekend- so how can CNBC or this article's reporter know any inside salient details of such count unless federal felony securities fraud is going on at the expense of millions of US taxpayers and investors all about to be finanically ruined holding CIT preferred and common stock... And to see such consumer finanical ruin at this time of the year with Christmas ahead of us all will only add to decimation of the overall US economy for sure now... CIT which I and millions are shareholders in, have NOT come out with tally of the bondholder votes as of yet, so how can this reporter post such garbage? Has nobody thought about all the millions of shareholders like myself, even CIT executives who own a lot of common stock, and thousands of 401k's filled with CIT stock that now will devastate millions of people because of all of this bakruptcy talk for month by a very bissed and criminal media out there seemingly hell-bent on seeing total dustruction of this corp and its stock as well as affect onto millions of small family investors in the process...??! Why has the US government not stepped in by now seeing this media circus play out since June/July, as there have always been many options disregarding BK, and other companies have been able to reorganize without BK and come out better and not see their stock decimated like this, and the ruin of millions of US investors holding hard earned monies invested into CIT group for a long time now.. This article like many in the media for weeks is pure contradictory and assanine to still read day after day. David Faber of CNBC on Friday likewise should be investigated by SEC for his all-knowing report about bondholder vote counts, when CIT itself to me in a telephone conversation, told me the votes would not be fully known until late this weekend- so how can CNBC or this article’s reporter know any inside salient details of such count unless federal felony securities fraud is going on at the expense of millions of US taxpayers and investors all about to be finanically ruined holding CIT preferred and common stock… And to see such consumer finanical ruin at this time of the year with Christmas ahead of us all will only add to decimation of the overall US economy for sure now…

CIT which I and millions are shareholders in, have NOT come out with tally of the bondholder votes as of yet, so how can this reporter post such garbage?

Has nobody thought about all the millions of shareholders like myself, even CIT executives who own a lot of common stock, and thousands of 401k’s filled with CIT stock that now will devastate millions of people because of all of this bakruptcy talk for month by a very bissed and criminal media out there seemingly hell-bent on seeing total dustruction of this corp and its stock as well as affect onto millions of small family investors in the process…??!

Why has the US government not stepped in by now seeing this media circus play out since June/July, as there have always been many options disregarding BK, and other companies have been able to reorganize without BK and come out better and not see their stock decimated like this, and the ruin of millions of US investors holding hard earned monies invested into CIT group for a long time now..

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