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Saturday, November 21, 2009 - 7:12am

ABC: Top Ga. Businesses Storing Cash

Updated: 7 years ago.
Georgia's top companies are filling their accounts with cash. (photo by Tracy Olson via Flickr)

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.