Tuesday, November 23, 2010

They're Sitting on Piles of Cash
The nation’s workers may be struggling, but American companies just had their best quarter ever.

American businesses earned profits at an annual rate of $1.659 trillion in the third quarter, according to a Commerce Department report released Tuesday. That is the highest figure recorded since the government began keeping track over 60 years ago, at least in nominal or non-inflation-adjusted terms.
Start hiring already!

1 comment:

Doug said...

No hiring yet. They're waiting until they find out how much of that they get to keep. If they've got to pay another 4.7% tax on the largest annual profits ever, it's hard to say how much extra cash will be floating around for new jobs.