Replies to post #63 on Cit Grp. Pfd A (fka CIT-A)

[research177]

http://biz.yahoo.com/e/091104/citbq8-k.html


I don't understand why the CIT C's are still trading if they were immediately converted to common upon delisting. That 8 K makes it look like what is trading for them are not "real" shares anymore. Dangerous situation now if you ask me about opening new positions. The A preferreds are "dangerous" too but they still exist right now as far as any 8K's out there show and should be less dangerous than the common shares. And the A's now have less competition for contingent value rights of CIT's left over piece of pie, to the tune of 550 million dollars LESS competition.



JMHO DYODD GLTA

[Must Be Patient]

Straight from the SEC:

http://www.sec.gov/Archives/edgar/data/1171825/000095012309057703/y80157e8vk.htm

I've emailed my broker to ask how I would go about converting CITDQ into 9 CITGQ, but I may not get a timely response. If you get any better info from Schwab about how to do it, will you post? It does sound like CITDQ should be 9X the price of CITGQ, doesn't it?