“It is the end of the floor,” he told the Times, “in spite of what John Thain says.” In the career summary he composed in his later years, Peake wrote that it was “satisfying to see so many of my ideas implemented in today’s markets -- perhaps...

Jim Gardner of the San Francisco Business Times wrote: The solid midwestern thriftiness that implies is no surprise to local followers of the nations fourth-largest bank. But it seems to have taken FORBES ­reporters aback. Maybe theyre more used to...

Group Inc. plans to redeem almost all of the $4 billion of debt tied to its exit from bankruptcy as the small-business lender led by John Thain seeks a return to investment-grade credit ratings. CIT will buy back $1 billion of its 7 percent Series A...

Among the other defendants who were also sued and opposed class certification were former Bank of America Chief Executive Kenneth Lewis, former Merrill Chief Executive John Thain, former Bank of America Chief Financial Officer Joe Price, and Bank of...

Group Inc. (CIT) is marketing bonds for the second time since emerging from bankruptcy in December 2009 as the small-business lender led by John Thain pays back $2.5 billion of “high-cost debt” this quarter. CIT may issue Series C second-priority...

Sears' suppliers, it could force the retailer to draw on its line of credit to pay for goods up front. If too many vendors seek prepayment, banks could be pressured and cut back on lines of credit for Sears, making it harder for the company to buy...