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Economy
See other Economy Articles

Title: Companies hold record $837B in cash, yet won't hire workers
Source: USA Today
URL Source: http://www.usatoday.com/money/compa ... 28_ST_N.htm?utm_medium=twitter
Published: Jul 28, 2010
Author: Matt Krantz
Post Date: 2010-07-28 10:03:35 by lucysmom
Keywords: economy, profits, jobs
Views: 12129
Comments: 21

Anyone wondering where all the economy's jobs are might want to look into piggy banks of the world's biggest companies.

Cash is gushing into companies' coffers as they report what's shaping up to be the third-consecutive quarter of sharp earnings increases. But instead of spending on the typical things, such as expanding and hiring people, companies are mostly pocketing the money and stuffing it under their corporate mattresses.

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Begin Trace Mode for Comment # 10.

#1. To: lucysmom (#0)

The smart money isn't stupid. They know that the cost of hiring a person is going up with the stupid health-care bill.

They also know the with the expiration of the Bush tax-cuts the economy goes into the shitter next year.

Nebuchadnezzar  posted on  2010-07-28   10:07:29 ET  Reply   Untrace   Trace   Private Reply  


#4. To: Nebuchadnezzar (#1)

They also know the with the expiration of the Bush tax-cuts the economy goes into the shitter next year.

Odd, don't you think, that before the Bush tax cuts the economy thrived?

lucysmom  posted on  2010-07-28   10:16:35 ET  Reply   Untrace   Trace   Private Reply  


#6. To: lucysmom (#4)

Odd, don't you think, that before the Bush tax cuts the economy thrived?

Ha! Not that I'm a big fan of Bush, but the Clinton "recovery" was all bullshit. Nothing but paper gains.

Economy went into a recession in late 2000 so if it was so good how come it went into the shitter?

Nebuchadnezzar  posted on  2010-07-28   10:35:17 ET  Reply   Untrace   Trace   Private Reply  


#8. To: Nebuchadnezzar (#6) (Edited)

Economy went into a recession in late 2000 so if it was so good how come it went into the shitter?

End of Y2K spending and the recession was shallow as capital got reallocated.

The Boy Blunder tax cuts are still operative...why are we, in your words, in the shitter NOW?

war  posted on  2010-07-28   10:36:34 ET  Reply   Untrace   Trace   Private Reply  


#10. To: war (#8)

nd of Y2K spending and the recession was shallow as capital got reallocated.

The Boy Blunder tax cuts are still operative...why are we, in your words, in the shitter NOW?

I've said this a few times so you may want to pay attention THIS time so I don't have to repeat myself.

Most of the good-jobs, productive jobs, have been shipped overseas. Free Trade helped destroy the economy. There are no high-paying jobs out there. I know many computer programmers who for over 10 years can't find a job, so they gave up and literally work at Home Depot, Lowes or just went into education.

Tax cuts don't help if there are no jobs. Hell, you could reduce the top tax rate to 25% and you'd still lose jobs to China.

Nebuchadnezzar  posted on  2010-07-28   10:55:55 ET  Reply   Untrace   Trace   Private Reply  


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