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.”Read full story here.
USAToday: Boom or Bust for Silicon Valley Companies
February 17, 2009 at 12:00 pm PST
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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/38618Sincerely,Brad Reese on Ciscohttp://www.networkworld.com/subnets/cisco/”