Deloitte: M&A Boom Just Beginning, CFOs Set to Spend Serious Cash

Fortune 500 CFOs remain guardedly optimistic about the economy and the 217,000 jobs added in May are a solid step forward, especially after brutal winter weather dampened Q1 sales for many firms, says Deloitte CFO Frank Friedman. Friedman says companies are sitting on $1.6T in cash and will soon start spending on more than buybacks and dividends. He says M&A is already ramping up as companies search for topline growth and in his view this is good for the economy. Finally, Friedman says Obamacare is not affecting hiring at large companies as much as small firms as companies weigh the implications of the new law.