When CIT Group filed for bankruptcy Sunday, it wasn't much of a surprise. The once-dominant small business lender has been largely sidelined for more than a year.
Dallas has gone to the dogs. Who's to blame? Try Kelly and Cody Acree. The couple raised $10 million to build Unleashed Indoor Dog Parks, a canine paradise with 25,000 square feet of air-conditioned romping space that opened in March.
CIT Group Inc., one of the nation's leading funders of small and medium-sized businesses, filed for the fifth largest bankruptcy by assets in U.S. history Sunday as part of a reorganization plan that has the support of an overwhelming majority of debtholders.
Last time we checked in with Debra Killian, the co-founder of Charter Oak Lending Group in Danbury, Conn. was fighting for her company's life.
Most people assume the Packard Plant in Detroit is vacant. It's an industrial ruin where the last car was manufactured 53 years ago.
So you wanna be a rock-and-roll star? This gear will get you jamming in style.
It's a hot august afternoon in Beijing, and student Li Yanan is shopping with a friend at the Joy City mall, in the city's Xicheng district. The mall offers plenty of Western brand-name stores -- Quiksilver, Levi's, French Connection -- all looking much as they do in other malls around the world. But Li, 20, is drawn to the only store displaying a large slogan printed in Chinese characters. YOUR OWN STYLE, it reads. Within seconds, Li is inside trying on a garish pink trucker's hat.
When hunting for cash, desperate small business owners may find themselves sucked into buying books and software packages promising "Billions in Free Grants!" from Web sites with names like NeverPayItBack.com, or hiring consultants who promise to find them gads of money. All they're likely to get, though, are empty promises.
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