Mergers and Acquisitions, Data and Economic Statistics
Companies Cling to Cash
WALL STREET JOURNAL
DECEMBER 10, 2010.
Companies Cling to Cash
Coffers Swell to 51-year high as Cautious Firms Put Off Investing in Growth.
By JUSTIN LAHART
Corporate America’s cash pile has hit its highest level in half a century.
Rather than pouring their money into building plants or hiring workers, nonfinancial companies in the U.S. were sitting on $1.93 trillion in cash and other liquid assets at the end of September, up from $1.8 trillion at the end of June, the Federal Reserve said Thursday. Cash accounted for 7.4% of the companies’ total assets—the largest share since 1959.
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