USAToday: Boom or Bust for Silicon Valley Companies
Jon Swartz of USAToday writes, “It’s boom — and bust — for Silicon Valley companies these days. Literally.”
He continues: “Already, a few established companies with ample cash reserves are bolstering war chests that will help them snap up innovative start-ups. Cisco Systems has $29.5 billion in cash reserves and last week sold $4 billion more in bonds.”
“This is the biggest challenge of our lifetime,” Cisco’s (Chairman and CEO) Chambers says. “The question is, do we take the opportunity and come out significantly better? I think our country, and the tech industry, will.”
Posted by John Earnhardt at 05:30AM PST
Brad Reese Feb 17, 2009
John,
Why is Cisco CEO John Chambers so sore about the U.S. Senate vote on repatriation?
It appears that 89% (i.e. $26.3 billion) of Cisco’s ample cash is in actuality “stuck” overseas and John Chambers won’t be repatriating it home to the United States unless he can pay less than the U.S. 35% federal tax rate:
http://www.networkworld.com/community/node/38618
Sincerely,
Brad Reese on Cisco
http://www.networkworld.com/subnets/cisco/