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While lower gas prices and the recovery of the auto sector (as supply chain disruptions eased in Japan) boosted economic performance in the third quarter, Hatzius believes the U.S. economy will continue to muddle through until the private sector feels comfortable enough that it has fixed its balance sheet to begin spending.
FORBES: Goldman's Hatzius: U.S. To Avoid Recession As Bernanke Unveils QE3, Europe Doomed
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He then cleared out the executive ranks, fixed the company's balance sheet and turned the company into one of the most profitable big engineering and construction firms in the world.
FORBES: Magazine Article
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We expect SIRI to utilize FCF and an under-levered balance sheet (in accommodative fixed income markets) to aggressively repurchase shares, shrinking share count by 20% through 2015 and 45% over the next ten years.
FORBES: Sirius XM: Goldman Launches With Buy Rating, $3.50 Target