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Saturday, November 21, 2009 - 7:12am

ABC: Top Ga. Businesses Storing Cash

The Atlanta Business Chronicle reports that some of Georgia's top companies are filling their accounts with cash as they wait for the economy to green-light significant expansion opportunities.

According to the chronicle, of Georgia's top 50 companies, only 17 have cut their cash holdings this year. As a group, those companies now hold nearly $39 billion dollars in cash and liquid investments. That represents a jump of 40 percent in cash holdings from the beginning of the year.

At the top is Atlanta-based Coca-Cola, which held $8.8 billion at the end of the third quarter. Home Depot is holding $2.7 billion.

A managing partner with PriceWaterhouseCoopers in Atlanta tells the Chronicle companies are "a little jittery, using cash as a security blanket".

While more cash on-hand can stifle immediate business growth, it allows for better flexibility once the economy stabilizes.