Monday, August 8, 2011

NY Post - US firms hoarding $2 trillion

Citigroup CEO Vikram Pandit

Corporate America is sitting on a colossal $2 trillion in cash -- $1.4 trillion in the S&P's top 20 alone -- but that does little for the public. Unemployment is at 9.1 percent but the top corporations are not using it to hire workers or expand benefits.

Huge balances

US companies are holding $2T in cash on their balance sheets.

Here are the top 20 ranked cash positions for S&P 500 firms.

Top 20 Firms with cash

1. Citigroup $526B

2. JPMorgan Chase $414B

3. Wells Fargo $112B

4. General Electric $82B

5. Microsoft $53B

6. Google $39B

7. Oracle $29B

8. Apple $28B

9. Johnson & Johnson $27B

10. Pfizer $24B

11. Chevron $18B

12. Coca-Cola $14B

13. Intel $12B

14. IBM $12B

15. Exxon Mobil $10B

16. Walmart $9B

17. Schlumberger $5B

18. AT&T $4B

19. Procter & Gamble $3B

20. Philip Morris $2B

Source: S&P

TOTAL: $1.4T



Read more: http://www.nypost.com/p/news/business/hoarding_cash_Yzfk2c8aK1wAPrZCRdEVnJ#ixzz1URtj9lbW