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CIT names new head of U.S. subsidiary
CIT Group Inc., a leading provider of financing and advisory services to small businesses and middle market companies, has appointed Randall Chesler as president of CIT Bank, its U.S. commercial bank subsidiary.
He will be based in Salt Lake City, Utah, and report to CIT Bank’s board of directors. Chesler is currently vice chairman of CIT Bank and previously served as president of consumer finance and small business lending at CIT. He succeeds John Taylor who is leaving the company to pursue other opportunities and will assist in the transition.
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Amazon grows Q2 sales, incurs loss due to investments
Seattle — Amazon.com increased net sales an impressive 22% during the second quarter of fiscal 2013. But the Internet retailing giant reported a net loss of $7 million due to operating expenses and investments in warehouses, digital content and other areas, compared with net income of $7 million in the year-ago period.