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Pollie turned failure into top job

The Daily Telegraph - Australia, Aug 06, 2010 / Labor candidate for Penrith John Thain yesterday confirmed he would start work next week as a policy adviser to Housing Minister Frank Terenzini.

Quick View: It's the derivatives, stupid

FT.com, Aug 03, 2010 / If you only have time to focus on one figure in today's second quarter earnings from NYSE Euronext, you should pick this one: its derivatives business represented 49 per cent of operating income.

Margaret Tutwiler Hired By Thain To Head Communications At CIT

NASDAQ, Aug 02, 2010 / CIT Group Inc. (CIT) hired government and public relations veteran Margaret Tutwiler as head of communications, marketing and government relations, becoming the latest former colleague of new Chief Executive John Thain to join the corporate lender.

CIT's Thain Tells Analysts Sale Isn't Goal, KBW Says

SFGate.com - San Francisco CA, Jul 30, 2010 / John A. Thain, the former Merrill Lynch & Co. executive leading a turnaround of CIT Group Inc., told analysts he didn't take the job to wind down the company, according to KBW Inc. "It appears unlikely that a sale of the company will occur in the near term," said a report today by analyst Sameer Gokhale of New York-based KBW Inc., describing a meeting that Thain, CIT's chief executive officer, hosted for analysts yesterday.

CIT Group Shows Staying Power With Second-Quarter Profit

Forbes, Jul 27, 2010 / CIT Group proved its first quarter success wasn't just luck with a surprise second-quarter profit Tuesday.

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Somali MPs killed in suicide bomb attack on Mogadishu hotel Telegraph - London - UK
Telegraph - London - UK, Aug 24, 2010/ The attack comes amid two days of fighting that have killed at least 40 civilians and wounded more than 130 in the capital according to Ali Muse, the head of Mogadishu's ambulance service.
Plane crashes in Nepal; foreigners among 14 dead The Seattle Times - Seattle WA
The Seattle Times - Seattle WA, Aug 24, 2010/ A small passenger plane heading to the Mount Everest region crashed in heavy rain Tuesday outside Nepal's capital, killing all 14 people aboard, including four Americans, a Briton and a Japanese national, officials said.
Cairn Energy narrows loss, sees Greenland promise MarketWatch
MarketWatch, Aug 24, 2010/ Scottish-headquartered oil exploration group Cairn Energy reported Tuesday that it sharply reduced net losses for the first half of the year, saying its first well in Greenland is showing signs of promise.
World stock markets fall as economy worries linger The Palm Beach Post - Palm Beach FL
The Palm Beach Post - Palm Beach FL, Aug 24, 2010/ World stock markets retreated Tuesday as the strong yen knocked Japanese shares and investors anticipated more bad news from U.S. economic reports this week.
Two British hostages survive bus siege carnage as eight are shot dead by rogue cop The Daily Mirror - London - UK
The Daily Mirror - London - UK, Aug 24, 2010/ Two Britons were rescued from a horrifying bus siege in which eight hostages died yesterday after a sacked policeman made a crazed attempt to get his job back.

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Quotes

" Our success in quickly repaying and refinancing our first lien debt will further reduce our funding costs as we focus on providing much needed financing to small business and middle market companies "
StockHouse, Aug 11, 2010
" I applied for it. I'd spoken to Tony Pooley. I don't see it as [a reward]. I've got experience and I know part of the area pretty well. I understand the position will look after Mount Druitt, Cranebrook and Penrith. "
The Daily Telegraph - Australia, Aug 06, 2010
" Constructive dialogue with all of our regulators "
Dow Jones Business News (via NASDAQ), Aug 04, 2010
" It's a multi-year process to revamp CIT's funding model. "
Dow Jones Business News (via NASDAQ), Aug 04, 2010
" I expect that the refinancing will result in more reasonable covenants and lower costs "
Dow Jones Business News (via NASDAQ), Aug 04, 2010