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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: gpowell who wrote (17131)	2/11/2004 1:42:07 AM
From: gpowell	Respond to of 306849

I should add that even though corporate cash flows improved throughout 2002, not much of these flows were put to work. I believe the reason for this reluctance to spend cash on new projects was the hang-over from the boom and the subsequent implied liability from forward looking statements. As one analyst put it, nearly all items on a balance sheet are opinion except cash, and CEO's learned after the boom they could go to jail for their opinion. Thus, cash accumulation was indicative of risk averse behavior.