The only option for these companies is to merge and seek yet more job cuts and savings.

All these companies have so much money, they don't know what to do with it.

We're already seeing some companies yielding to pressure. But everybody is waiting for the big lady to sing, which is Exxon.

The surge in oil prices took companies by surprise. They didn't expect the windfall profits and were ill prepared to handle the instant wealth. It's like winning the lottery.