Cash-Rich Business May Take Edge Off Recession In U.S. By REINHARDT KRAUSE The housing bust and weak consumer spending may be pushing the economy into recession. But strong corporate balance sheets could limit cutbacks in business investment or stave off layoffs. Corporate America is sitting on $611 billion in cash, says Standard & Poor’s. Some economists figure that hoard could help prevent a severe recession if the economy slows further. Big companies are in much better shape than in the 2001 downturn. Ahead of that slump, business debt boomed. Companies borrowed to hike capital spending or make acquisitions.For the entire article go to Investors.com
Corra sees some companies doing well at this time while others are struggling to varying degrees. Some companies are profiting from the weak dollar while others are hurting. There is a cry about the cash flow and the lack of it.
But the larger companies didn’t exactly go broke in the last years. Many have money and realize there is opportunity in tougher times. In seeking these opportunities they will be hiring new employees and they will be seeking companies that can provide them cost effective and quality goods and services.
So not only will these larger corporations keep the job market alive by hiring in-house, but they will also assist by contracting with smaller business who in turn will probably have to ramp up to service these companies.
That’s why it pays to run background checks on all your employees. Big companies may insist upon it, and it is wise to have a pre-employment screening program in place to meet the possible demands. Besides running background checking reports on your employment candidates is always a smart and cost effective thing to do. Corra has an array of screening packages and can customize any background checking program to fit your needs.
Check them out before you hire.
