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Sorvino Comments on Financial Crisis

February 10, 2009

As the global recession deepens, companies increasingly are turning their attention to a single line on the balance sheet: cash. Corporate executives who used to focus on trimming expenses and growing sales are now looking for pockets of cash in their companies to build "internal liquidity" and hunker down for tough times, turnaround experts say.

"Companies are juggling bills. They're asking what they have to pay now and what they can delay for another 30 to 60 days," said Heidi Sorvino. They are also cutting back on perks for corporate executives, she continued.

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