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Daily News – August 31, 2009

August 31, 2009

Brooks Brothers opened their Toronto store this week and had an impressive profile on their CEO in the Canadian newspaper The Globe and Mail. The profile is here.

This article from the Ottawa Citizen points out that many are looking at the Canadian economy and seeing small growth in key market sectors, which may indicate an end to the recession and a return to a time of growth. VOA reports similar turnarounds through Asian markets as well.

The MRket Las Vegas Trade Show starts today. It will run for 3 days and is the exclusive be-all-and-end-all event for the men’s wear industry.

In the news and related to CIT, lender to the garment industry and to many other industries, the company is now tapping smaller investors on the shoulder for money as the capital markets have essentially closed to financing them. The regulatory watchdogs are now investigating if CIT was ethical and transparent about the risks that came along with buying their debentures. While this article, published on Saturday, discusses how many smaller investors have been hurt by their purchase of CIT bonds, the story itself points to another final straw that CIT has been grasping at – investors that didn’t know what they were getting themselves into and are now losing their shirts on the investment.  This shows that the company is struggling to find any way it can to avoid a seemingly immanent bankruptcy.

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