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The Chapter 11 filing is one of the biggest in U.S. corporate history. CIT's bankruptcy filing shows $71 billion in finance and leasing assets against total debt of $64.9 billion. Its collapse is the latest in a string of huge cases driven by the financial crisis over the past two years, as baile...
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Speaking at a forum about the global auto industry, former auto czar Steven Rattner said publicly for the first time that a major aim of Chrysler’s restructuring plans was to replace the management team. Rattner believed that Chrysler’s survival would depend on replacing the existing t...
Fri, Nov 20 | from Leftlane