Thursday, October 7, 2010

U.S. companies buy back stock in droves as they hold record levels of cash

U.S. companies buy back stock in droves as they hold record levels of cash

For months, companies have been sitting on the sidelines with record piles of cash, too nervous to spend. Now they're starting to deploy some of that money - not to hire workers or build factories, but to prop up their share prices.

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