Ben Casselman, Wall Street Journal $496.5 Billion: How much less cash U.S. corporations had at year-end 2011 than previously believed. The Federal...
Ben Casselman, Wall Street Journal $496.5 Billion: How much less cash U.S. corporations had at year-end 2011 than previously believed. The Federal Reserve on Thursday came out with its quarterly “flow of funds” report, which for two years now has reflected the steady increase in the amount of cash on corporate balance sheets. Sure enough, the report showed that corporate cash ticked up yet again in the first quarter of the year by around $12.6 billion, to $1.74 trillion. But here’s the funny thing about that figure: Back in March, the Fed said nonfinancial companies ended the year with a record $2.23 trillion. The new release revised that figure down to $1.72 trillion. Even for the Fed, a half-trillion-dollar revision is a big deal. Read More (Subscription Required)
