WYSE Capital Group Continues to Bring Angel Investors and Entrepreneurs Together
Investment to accelerate technology innovation and global expansion
Global Social Travel Network Expands to Nearly 5 Million Users in More Than 93,000 Cities
CIT group, a nation’s leading lender to small businesses, has filed for Chapter 11 bankruptcy protection. The bankruptcy was expected, since the company was struggling for months to avoid it, and came very close to declaring Chapter 11 bankruptcy in July 2009 after the Treasury rejected the CIT’s request for additional bailout money, but was rescued making the agreement with the bondholders group. The lender filed for bankruptcy on Sunday, after the debt-exchange offer made to CIT’s bondholders failed. Company’s bondholders opted for a prepackaged reorganization plan which will reduce its debt by $10 billion and allow it to continue doing business.
The first comprehensive review of the 8(a) program in several years resulted with the proposed 8(a) regulation changes that were published in the Federal Register. The public comment period on the proposed changes is open for 60 days.