Private wealth and public squalor

mike65

Just a side bar to the current misery

http://www.guardian.co.uk/business/2010/nov/30/europe-biggest-companies-cash-pile

Europe's biggest companies are enjoying their biggest financial boost in nearly seven years and are sitting on a multibillion-pound cash pile which experts hope can help maintain economic growth next year.

Some 466 of Europe's biggest companies – the benchmark Stoxx Europe 600 index, minus its financial constituents, many of which have received distorting government bailouts – are sitting on a $691bn (£445bn) of cash, according to Bloomberg.

This represents a 16% increase on the amount of cash these companies – which include Vodafone ($14.3bn), BP ($12.8bn) and AstraZeneca ($10bn) in the UK – were sitting on at the end of 2007 as the financial crisis gained momentum.

amacca

why am I not surprised

suppose if I asked for a bigger dividend from my Vodafone shares I'd be told that sort of greed is what caused this mess in the first place:)

silverharp

not sure what your point is OP? be thankful that there are some companies out there that still have savings, their reserves are propping up the banks and will be a base for future investment. If they were as negligent as the banks or their governments there would be even more squalor