Cit Grp. Pfd A (fka CIT-A)

[ryanngina]

i find it very odd E-trade does not show any info on cit-a as if it does not exsist!!! but cit shows up???

[I-Man]

I am now proud owner of CIT-A shares for first time; and as a former CIT common holder who was lucky enough to get out before massive con game was revealed 2 weesk ago on that Friday (around time PIMCO also sold bonds), I had an open order surprisingly filled for CIT-A now... As I am very surprised to see the preferred A's this low and I now am invested into them, so will see what comes between now and Oct 27th...

No matter which way it goes, common seems to be destroyed, and at least, preferred A's will be behind bondholders in worse case scenario; but I do believe this company will survive long term but in what capacity or what manner is anyone's guess as it is apparent there have been lies and manipulation through press in past, and now look at one of the major bondholders (PIMCO) and how they screwed CIT even when they were not to ever sell the very bonds they utilized as collateral for the $3B loan months ago!!!

[DanBB]

Yes I will. I'll have it posted before 10:30

[wamuer]

hi danbb sorry to post here but r u going to do the live phone call for wamu court september 25

[Fourthquarter]

TY....

[DanBB]

They paid in the past but the future is uncertain. I'm in this one because of the distressed price. $25 face so I'm looking for the PPS jump.

CIT-C has a $50 face.

I have both A's and C's.

[Fourthquarter]

Dan...could be stupid question but not familier with City preferred..so are they paying any devident on preferred?If they were paying in the past then do you know how much and when was the last time they paid devident?
TYIA

[DanBB]

My thoughts are that the A and C prefs will continue to ascend even without news. I do expect CIT to avoid BK.. but it is not ruled out.

I have 0 commons as I think the value is uncertain since dillution may occur.

[DanBB]

Welcome to the Cit Grp. Pfd A (CIT-A) board.