The commercial real-estate mess is clobbering lots of investors. Few of them are reeling as much as the 27 owners of 1023 Cherry Road in Memphis, Tenn.
The office complex about five miles east of downtown tumbled into foreclosure last fall because the owners couldn’t refinance the $14 million loan used to buy the two glass-and-steel [...]
Posts Tagged ‘loan’
Small Investors Lost It All in Memphis
February 10th, 2010 by Financial Writer
Tags: commercial mortgages, Debt, investors, loan, memphis, mortgages, unemployment
more...Icahn slams CIT restructuring, offers $6B loan
October 19th, 2009 by Financial Writer
Billionaire investor Carl Icahn sent a scathing letter to troubled lender CIT on Monday, calling its restructuring plan “a bad-faith attempt to buy votes.”
Icahn, a legendarily activist investor, is a CIT bondholder and is trying to unseat what he calls the company’s “incompetent and unconscionable” board of directors.
Icahn’s letter skewered CIT’s (CIT, Fortune 500) $6 [...]
Tags: businesses, credit market, Debt, lenders, loan
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