The average probability that a private construction company would default in the next year was 3.79 percent for the 12-month period ended Dec. 31, compared with 5.73 percent for the year-earlier period.
Senate Minority Leader Mitch McConnell is threatening to risk a default on the national debt unless President Obama agrees to large spending cuts. But playing politics with the debt ceiling is a dangerous and inappropriate game.
Accounting professionals by nearly a 2-1 margin said in an online survey that their business clients don't do enough to ensure creditworthiness of customers, vendors and other potential transaction partners before they extend credit.
U.S. corporations have come to believe their fates are no longer inextricably tied up with the fate of their country's economy. They're sorely mistaken, and we're all suffering from the consequences of their delusion.