American Express : How should the firm meet its financing needs in the current year? How should it balance the benefits of future financing flexibility (by selling equity now) with the temptation to delay the sale of equity by financing with debt now, in hopes of realizing a higher price in the future? Evaluate how the firm plans on meeting the current years finance plan. The goal is to balance the benefits of future financing flexibility with realizing a higher stock price. Future financing flexibility can be accomplished by selling equity now. On the other side, management can have the hope of realizing a higher share price by waiting to sell the equity later. Either way, a balance must be maintained depending on market conditions and future forecasting.