"We sense that the supervisory authorities want this negative capital markets noise from Lehman Brothers to be dialed down, " said David Hendler, an analyst at CreditSights.

FORBES: Magazine Article

With inventory averaging 35 days of sales and accounts payable averaging 45 days, the company has negative working capital needs.

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The shift to agency model will have a negative impact on working capital as well, but Expedia feels that it has a strong balance sheet to support the same.

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