U.S. companies have started to spend their record high piles of cash, but most won't be using it to boost hiring.
Since the credit crisis, U.S. companies have collected about $940 billion in cash. Per-share profit surged 36% in 2010, the biggest jump since 1988, and companies cut capital expenditures 26% in 2009 to compensate for the ailing economy.
Some of the biggest cash hoarders as of the end of 2010 include Cisco Systems Inc. (Nasdaq: CSCO) with $40.2 billion cash, Microsoft Corp. (Nasdaq: MSFT) with nearly $40 billion and Google Inc. (Nasdaq: GOOG) with nearly $35 billion.
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Investors Share Biggest Global and U.S. Economic Concerns
Earthquakes and nuclear meltdowns in Japan, uprisings in the Middle East, scary job prospects, a gargantuan federal deficit, zooming gasoline prices, and soaring food prices ... the list of economic challenges facing the world is long and just seems to get longer.
It's tough to remember the last time U.S. consumers and investors faced so much uncertainty. But the worst thing is that there's no clear end in sight.
No wonder consumer confidence remains shaky, at best.
It's tough to remember the last time U.S. consumers and investors faced so much uncertainty. But the worst thing is that there's no clear end in sight.
No wonder consumer confidence remains shaky, at best.
What Are Your Five Biggest Worries?
Earthquakes and nuclear meltdowns in Japan, uprisings in the Middle East, scary job prospects, a gargantuan federal deficit, zooming gasoline prices, and soaring food prices ... the list of economic challenges facing the world is long and just seems to get longer.
It's tough to remember the last time U.S. consumers and investors faced so much uncertainty. But the worst thing is that there's no clear end in sight.
No wonder consumer confidence remains shaky, at best.
It's tough to remember the last time U.S. consumers and investors faced so much uncertainty. But the worst thing is that there's no clear end in sight.
No wonder consumer confidence remains shaky, at best.