GOOD DAY FOR: The sincerest form of flattery, after Microsoft said that some of its new branded retail stores, slated to open in the fall, will be located right next to Apple’s successful retail stores. (Reuters)
BAD DAY FOR: Getting bailed out, as the 101-year-old commercial lender CIT Group took a big step towards bankruptcy following the collapse of federal financial rescue talks. CIT got $2.33 billion in TARP money in December, and federal regulators were apparently unconvinced by CIT’s assertion that it is too big to fail. It is unclear if the U.S. would recover any of the TARP funds in bankruptcy court. (Bloomberg)
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