In the chapter opening, we discussed the cash positions of several companies. Automobile manufacturers also have enormous
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In the chapter opening, we discussed the cash positions of several companies. Automobile manufacturers also have enormous cash reserves. At the beginning of 2009, Ford Motor Co. had $28.2 billion in cash, General Motors had $14 billion, and Toyota had about $30.3 billion. Why would firms such as these hold such large quantities of cash?
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Auto manufacturers often argue that due to the cyclical nature of ...View the full answer
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Related Book For 
Essentials Of Corporate Finance
ISBN: 9780073382463
7th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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