While Wall Street whipsawed wildly last week, America's companies tried to maintain their composure. Though many corporate executives were rattled by what has happened to their firms' stock, and their own personal wealth, since August, most were determined to stay calm and not make any rash moves. Almost no one rushed to slash production or shelve capital-spending plans. But many companies began taking a hard look at their operations, realizing that further market declines could bring on a recession. For companies that had been planning to issue new stock or for young firms hoping to go public, the impact of the...
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