CIT: Will They Survive

Talk to any dealer or reseller today and they will tell you that their biggest issue is getting a deal approved. Finance companies have black listed many industries and some large providers have become fickle, pulling out of the industry and then reentering, while others have exited the small ticket leasing business completely. Add inventory floor planning issues to the mix and life has become difficult for many.

It looks as if things will only get more difficult; it was reported over the weekend that CIT had hired a prominent bankruptcy firm. For more details on the possible bankruptcy follow the link below.

http://finance.yahoo.com/tech-ticker/article/279272/Save-CIT-or-Let-it-Fail-Obama-Geithner-Navigating-a-%22Slippery-Slope%22?tickers=cit,ge,wfc,xlf,skf,fas,%5Edji&sec=topStories&pos=3&asset=&ccode=