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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Eastern is the Top SBA Lender

Jon Chesto reports at the Patriot Ledger that Eastern Bank has edged out perennial leader Citizens Bank as the state’s top Small Business Administration lender based on loan volume. Boston-based Eastern, the state’s fifth largest retail bank, originated 156 SBA-backed loans in the fiscal year that ended Sept. 30, totaling $7.3 million, including 28 loans totaling $1.6 million on the South Shore. Eastern easily topped Providence-based Citizens’ 130 SBA-backed loans, although Citizens loaned nearly $7.9 million.

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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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