Microsoft works cash harder
Seattle Times | at | by Mike
John Connors' willingness to take a risk with Microsoft's $56.4 billion in cash is paying off. The company's chief financial officer has generated a 7.3 percent average annual return on investments in the past three years. The gain is almost triple that produced by companies with more than $1 billion in sales, according to Chicago-based consulting firm Treasury Strategies. Microsoft, with more cash than any U.S. non-finance company, has performed "pretty darned well" by investing more in stocks and bonds with lower credit ratings, Connors said