The Long, Hard Road Ahead for Tyco

Spinning off CIT buys some time. Now the conglomerate must recruit a strong CEO -- while fending off a legion of probers

When a relieved CIT Group CEO Albert R. Gamper Jr. rang the opening bell at the New York Stock Exchange on July 2, he did more than mark the return of his commercial-finance giant to the Big Board after 13 months as part of Tyco International (TYC ). He also signaled that at least one dark cloud hovering over Tyco -- the fear of an imminent liquidity squeeze -- had lifted. Tyco still faces some potentially enormous gales ahead, however.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.