CIT Group Amends Debt Restructuring Offer

The Associated Press reports that CIT Group Inc., a major lender to small and midsize businesses that struggled under mounting losses and tight credit availability, amended its debt restructuring offer to enlist more bondholder support for the plan. The troubled New York-based lender had launched the debt restructuring effort Oct. 1 with the hope that it will trim at least $5.7 billion from its near-term debt. It is also asking bondholders to approve a prepackaged reorganization plan in case it is forced to file for Chapter 11 bankruptcy protection.

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Congress Mulls Fee Cut on Credit Card Transactions

Mark Calvey reports in the San Francisco Business Times that Visa Inc. and its banking clients who rely on the San Francisco company’s payment network to handle card transactions are fighting lawmakers on yet another front: the fees merchants pay to process a card transaction. Three bills in Congress would limit so-called interchange fees when banking issues are the hot topic.

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Money-Saving, Profit-Boosting Strategies for Franchise Owners

In light of the current economic recession, Dunkin’ franchise owners are rightfully being even more vigilant about the bottom line. The DDIFO is mindful of this and wants to help its members identify ways to save money and boost profits. DDIFO Sponsor, Performance Business Solutions, LLC (PBS) and its sister company, MS Consultants, LLC offer services in areas franchisees might not be aware of that can make a significant difference in terms of reducing business expenses, particularly in the area of tax savings.

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CIT in Last-Ditch Rescue Bid

Mike Spector and Jeffrey McCracken report in the Wall Street Journal that CIT Readies Plan to Hand Control to Bondholders; but Bankruptcy Filing Is still an Option. The fate of CIT Group Inc. was hanging in the balance Tuesday as the large commercial lender readied a plan that would likely hand control of the company to its bondholders.

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DDIFO Paints a Bright Future at DCU Center Meeting

Dunkin’ Donut franchise owners who attended the members’ meeting in Worcester, MA on September 22 learned about plans to double the size of the group’s membership, were exhorted to get involved with the government legislative process for their own benefit and heard a battle cry to fight against apparantly aggressive legal tactics by the brand against the franchise owners.

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