Politicians complain about firms' tendency to hoard cash, and urge firms to pay workers more.
They hoard cash and try to save for the rainy day that they are convinced will come.
But it remains to be seen whether liberal amounts of central-bank liquidity will encourage banks to do more than hoard cash.
This immeasurable uncertainty, he argued, explains why people hoard cash, why investment is volatile and why financial markets are inherently unstable.
Some would rather hoard cash or buy back their own shares than spend it on more efficient machinery or information technology.
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Treasury yields have fallen from around 1.9% to 1.48% in less than two months, as big investment funds hoard cash in the form of U.S. government debt.
Sometimes it may be best for companies to hoard cash at the top of the stock-market cycle and use it in the next trough to buy back shares at a discount.
U.S. business leaders are more tightfisted than earlier this year, worrying some folks that a major growth driver of the shaky U.S. economy will screech to a halt if companies hoard cash instead of spending it on new plants, equipment and technology.
On this score, reality is dawning on policy makers: Last week, Bank of England Governor Mervyn King, the high priest of the global regulatory onslaught, called for a rethink of the Basel liquidity rules that have led banks to hoard cash in ultra-low-yielding central bank reserves and government bonds.
Of course it is their market-given right not to spend its money but I am 100% sure that the US economy cannot prosper if its best companies hoard cash on this scale and I am as sure that competitor regions are happy to see them idle that cash away.
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There are plenty of others, as world leaders watch in dismay and multinational corporations hoard their cash.
The uncertainty that makes companies hoard their cash would be tempered, not eliminated.
Meanwhile, a survey by the U.S. National Association for Business Economics said companies will lay off more workers and hoard more cash during the next 12 months.
This corporate cash hoard now becomes the carrot in GM's upcoming collective-bargaining negotiations, beginning in mid-July.
Adding to that cash hoard--which is what the purchase of Uncle Sam's paper effectively does--is useless.
To be sure, at IBM Palmisano has used the cash hoard for other things.
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By definition, Apple's share price today rests even more heavily on its vast cash hoard.
There are probably many other areas Apple could use its cash hoard to get into.
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Apple is sitting on the largest cash hoard of any publicly-traded company, or any company for that matter.
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Apple would drop to 8 times earning power with some credit for its cash hoard, but not a lot.
The Apple cash hoard would be much better off if it was converted into any of the companies listed above.
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But so far in 2010 he has not been boldly reinvesting the cash hoard he currently has at his disposal.
It is clear that Google needs to find a use for the growing cash hoard or the stock will continue to suffer.
The second reason why stocks are so high is that companies have accumulated a huge cash hoard earning nothing sitting on balance sheets.
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With its rich cash hoard, Google is likely to pursue more acquisitions to broaden its products, particularly in display advertising and its Android mobile platform.
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Obviously, Apple is trying to decide how best to use its cash hoard, whether in stock buybacks, dividend hikes, or going on an acquisition binge.
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By issuing preferred stock to existing shareholders, Einhorn believes that Apple can unlock the value on its balance sheet while retaining its existing cash hoard.
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However, the next set-back is not likely to be anywhere near as severe, and that hoard of corporate cash is one reason for that expectation.
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