State of corporate finance it's not over yet.
Financial Executive › Vol. 25 Nbr. 7, September 2009
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Summary
CIT Group Inc.
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Extract
State of corporate finance it's not over yet.
Leaving the Las Vegas strip, after just a few miles of driving on Interstate 15 on the way to Los Angeles, you'll come to the "Blue Diamond Road" exit, which takes you west toward the mountains. Within five miles, you will run into what was at one point the fastest-growing master-plan community in the United States, Mountain's Edge. Intended to hold 12,000-plus homes, along with a network of schools, professional offices, restaurants and neighborhood shops, the community was a model for Las Vegas' growth.
Development started in 2004, with home prices appreciating more than 50 percent per square foot in the following two and a half years. By late 2007, early 2008, however, Mountain's Edge had become a poster child for the troubles of the housing market. With only two-thirds of the homes completed, mega-grocery stores half finished and construction not yet begun on local parks, Mountain's Edge resembles other communities stretchi...See the full content of this document
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