Cash-rich and looking to spend

03/4/2010 | Wall Street Journal, The

The recession led jittery U.S. companies to build up vast cash reserves: The Standard & Poor's 500's nonfinancial firms alone have collectively socked away almost a trillion dollars. Now, though, there are signs that businesses could finally be ready to start spending again, with the proportion of all-cash acquisitions twice as high this year as in 2009. "Sitting around on all that cash and have it earning very little interest really does not make a lot of sense," says Walgreen Chief Financial Officer Wade Miquelon.

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