Wednesday, March 17, 2010

CIT Bad Start with Disclosure

CIT Financial (CIT) led by Chairman and CEO John A. Thain announced they finished off 2009 and it was good riddance to bad rubbish. They mentioned something about Fresh Start Accounting (FSA). The conference call was announced and very little other substantive information was provided in the earnings release. To the point where the earnings release is Reg FD challenged. There is much to discuss and understand with CIT. The CEO needs to start considering his shareholders who are not always able to listen to a conference call.

Bad start John.