> Are there a lot of private companies doing big things (ie, $90M wrench factories?) out of their own war chests? Ask the Germans :) Anyway, you issue bonds, i

> Are there a lot of private companies doing big things (ie, $90M wrench factories?) out of their own war chests? Ask the Germans :) Anyway, you issue bonds, instead of stocks. You control the term, the "market" tells you the cost. And its a fixed cost. Or you take out a loan, again with fixed interest. You control the parameters as much as anyone else. Or you issue restricted shares, to convince capital owners willing to make a longer term bet to play with you. They have to be in it for the long haul, since they can't sell the shares based on some 1st, 2nd or 3rd order belief about the company value.