China MediaExpress Holdings, Inc. (fka CCME)

[Headley Lamar]

The 20% figure was if they put their cash to work in the form of acquisitions or launching new product lines, etc. not from other forms of investment such as stocks or bonds.

Apple is reinvesting a considerable amount of their cash in research and releases innovative products on a regular basis. They just have the same "problem" as CCME which is they make an un-Godly amount of money :) That said, they have 14% of their market cap in cash as compared to CCME's 30%. CCME is in a high growth market and they should be finding ways to get that cash to work. If they can't find a place for the money, they need to start getting some of it back to the shareholders.

Doing neither is going to keep the stock's valuation lower than it should be.