For the first time in three years, the U.S. is expected to sell fewer bonds in the third quarter. The Treasury Department on Monday lowered its borrowing forecast for the quarter to $209 billion, compared with $223 billion estimated three months ago.
Private companies are waiting longer for customers to pay their bills. According to this article, the average wait time is 40.3 days, three days longer than in 2012, and almost as long as the record average wait of 40.9 days in 2009. Analysts say the lag time could have a significant impact on companies' cash flow and inventory management.
Richard J. Bressler, CFO of Viacom, is leaving the company more than a year before his contract expires. Bressler had been hired by former Viacom president Mel Karmazin, who quit last June. Bressler will remain at Viacom until a replacement is hired.