Sorvino Comments on Financial Crisis
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.
If you would like to receive additional news alerts, event notifications, or correspondences pertaining to this and other industry-specific topics, please sign up by visiting the Contact Us page. Be sure to provide your contact information, including email address, and list the areas of practice or industries for which you would like to receive information.
This correspondence should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult a lawyer concerning your own situation with any specific legal question you may have.