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Wednesday, April 7, 2010 as of 11:14 AM ET

John Thain

    John Thain

    John Alexander Thain (born May 26, 1955) is an American businessman, investment banker, and currently chairman and CEO of the CIT Group.

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    1. CIT Group
    2. John Havens
    3. Brad Anderson
    4. Mark Parker
    5. Miles White
    6. Mike Duke
    Get updates on John Thain
    CIT Reports $447M 1Q Loss

    CIT Group Inc, the small-business lender led by former Merrill Lynch Chief Executive Officer John Thain, said it lost $446.

    5 million in the first quarter after taking $620 million of charges for retiring high-cost debt.Its shares fell more than 3 percent in morning trading.Pretax income excluding those charges was $214 million, up 21 percent from $178 million a year earlier. CIT, which entered and emerged from bankruptcy in late 2009, attributed the gain primarily to lower funding costs and higher gains on asset sales.In a conference call with analysts, executives said gains from asset sales are likely to fall going forward as the company's inventory of unwanted loans decreases.On a per-share basis, the New York-based lender, lost $2.22, matching the consensus mean estimate of analysts surveyed by Thomson Reuters I/B/E/S.Thain, who has been CEO since February 2010, has been weaning CIT from reliance on high-cost debt. The company has eliminated or refinanced more than $22 billion of ex...

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    1. CIT Raises Cost Estimate For Litigation

      CIT Group Inc. (CIT), the business lender led by John Thain , raised its estimate for potential losses from litigation, according to a regulatory filing.The company,...

    2. Report: CIT has Sears on a Tight Leash

      CIT Group Inc (NYSE:CIT) will again stop providing loans to suppliers of Sears Holdings Corp (NASDAQ:SHLD) after Tuesday as the business lender awaits more informati...

    3. CIT 4Q Net Slides 59%; To Restate Some Prior Results

      (Updated with details about online bank in paragraphs 12-14, CEO comments on European opportunities in paragraphs 16-17 and added details throughout)DOW JONES NEWSWI...

    4. Lender Shies Away From Slumping Sears

      Shares of Sears Holdings (NASDAQ:SHLD) retreated Thursday morning following reports that key commercial lender CIT Group (NYSE:CIT) has stopped financing loans from ...

    5. Corzine Resigns From MF Global

      Former New Jersey Governor Jon Corzine resigned as CEO from now-bankrupt futures brokerage MF Global on Friday under a cloud of legal uncertainty that has prompted h...

    6. All that is Goldman Does Not Glitter

      FBN’s Neil Cavuto on the mistakes of former Goldman Sachs executives, such as Jon Corzine, have made since they left the firm.

    7. Gasparino: Schwab Eyeing MF Global's Retail Futures Business

      FBN's Charlie Gasparino breaks down how MF Global will be unwound.

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