Corporate cash and short-term investments are at record highs – both in absolute numbers and as a percent of total revenues. At $1.8 trillion in the U.S. alone, cash is up 25% since the beginning of the recession. Corporate executives are under pressure to put that cash back to work. Indeed, there have been charges that “cash hoarding” is prolonging the recession. Treasury Strategies worked with our clients to more deeply understand the underlying business decisions leading to these historic cash levels.