Posted: Tuesday, December 7th, 2010
Businesses Storing Cash until it's Safe to Spend
By Chris Woodward - OneNewsNow
Despite how negative it may appear, there could be an up-side to the fact that fewer businesses are hiring and spending. A recent Business Roundtable survey shows that its members are hesitant to hire or spend because of current economic uncertainty. But Peter Wierenga, financial advisor with Quality Financial
Group, Inc., says there is good news to report. Peter Wierenga"The same survey indicated that they're storing up lots of cash. Whether it's investors who are sitting on cash or bonds and are hesitant to invest in the stock market right now, or whether it's individual businesses who are not spending their cash to hire people or to expand or to do research and development - whatever reason it is, there is lots of cash sitting on the sidelines, " he reports.
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