My new joint at Fortune Magazine just dropped and I’m told it’s the number story on the site this evening…
May I have your attention please?
I bring you terrible news.
Oil prices have plunged to the point where it hasn’t been this cheap to fill up your gas tank in over a decade. Businesses that count energy as an input cost will be forced to figure out what to do with the excess capital they’re not spending on fuel.
Speaking of excess capital, American corporations are struggling under the burden of enormous piles of cash they don’t have a use for. Each day they must choose between shrinking their floats or handing money back to shareholders in the form of record dividends.