Work Boxers

A Whole Lotta Greenbacks Tucked Safely Away

by Mark on March 5th, 2008

And they’re not in your closet or attic…

Unlike Consumers, Companies Are Piling Up Cash*

“Unlike most American consumers, whose failure to save has exasperated economists for years, the typical American corporation has increased its savings so sharply that it probably has enough cash on hand to completely pay off its debts.”

That’s right and undoubtedly much of those “assets” originated with you!

Think about it - “enough cash on hand to completely pay off its debts.” Are we paying attention?

“Corporate spending on equipment and other capital expenditures has declined as savings have soared, suggesting that companies could stimulate the economy now by going on a hiring and spending spree. But that raises worries among some analysts that companies will spend their cash unwisely, making them more vulnerable in the future.”

Oh my goodness and heaven forbid - more vulnerable in the future?

“Microsoft’s savings account is so large that its chief financial officer has observed that the company could, if it wished, cover most of the $20 billion cash component of its pending $44.6 billion offer for Yahoo from its own reserves.”

Do you know anyone who’s lost their home recently? How about someone who might not know where tonight’s dinner will be coming from?

For your immediate employment considerations - the Problogger Job Board!

[*NYT article by Diana B. Henriques]

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