The following is a round-up of news likely to affect stock prices today:
CIT Group Inc. (CIT), one of the nation's largest lenders to small and mid-sized businesses, appointed former Merrill Lynch CEO John Thain as chairman and CEO. According to The Wall Street Journal, Thain will make a $500,000 base salary and receive $5.5 million in restricted stock. Thain brokered Merrill Lynch's controversial sale to Bank of America (BAC). The appointment could anger many, while others might just say it's a fitting match -- a disgraced banker who oversaw Merrill's decline and a struggling financial firm.