By Jeff Spross “Senate Minority Leader Chuck Schumer (D-N.Y.) and Sen. Bernie Sanders (I-Vt.) want to clamp down on stock buybacks. This practice, worth a record $1.1 trillion in 2018, is when publicly traded companies buy their own shares from Wall Street traders. Schumer and Sanders…
Author: admin
The real reason stock buybacks are a problem
By Yves Smith “Yves here. Even though this article on stock buybacks by Steve Roth, cross posted below after this lenghty introduction, makes an important central point, I believe it is missing the forest for the trees. Roth acts as…
Share buybacks used to be considered insider trading. not now
By Chuck Epstein “In the 1960s, the sale of clear plastic ant farms was a popular gift for kids. The ant farms came complete with ants, a packet of sand and a clear plastic rectangular container that was placed on…
Bernie Sanders and Chuck Schumer’s surprising collaboration — and weird proposal — on stock buybacks
By David Dayen “Chuck Schumer and Bernie Sanders went to the same high school in Brooklyn, but that’s about all they shared in common until an op-ed in Monday’s New York Times. The subject is stock buybacks, the increasingly common procedure whereby public companies…
Apple blew $9 billion buying back its own stock. There’s a lesson here
By Jordan Weissmann “Corporate America spent much of this year celebrating the tax cut that Republicans handed them by dumping truckloads of money onto their investors. Mostly, they did this by spending record amounts of money on stock buybacks.”… [Click HERE to read the…
America has the highly combustible economy it deserves
By Marshall Auerback “It’s part of the American experience to find yourself in an elevator, in an airplane terminal, or at home, looking at a screen with stock numbers whizzing by, and people yammering about how America is somewhere on…
Stock buybacks are a parasite on the US economy
By Jan D Weir “Last month, Sears, the giant retailer that was a shoppers icon for 125 years, filed for bankruptcy showing an unmanageable $5 billion in debt. Since 2005, under the leadership of former Goldman Sachs trader and Wall…
Stock buybacks: Free-market ideology’s license to loot
By William Lazonick, speaker at the forum “William Lazonick, Professor Emeritus, U Mass Lowell, speaks at the forum, “Destroying the Myths of Market Fundamentalism,” held in Washington DC”… [Click HERE to watch the talk]
The ghost of clinical trials past, present, and future; Have you seen many paradigm shifts lately?
By David Connelly “What is more tiring for anyone in this industry to hear? Is it the most oft-quoted statistic from the Tufts Center for the Study of Drug Development that the average cost of getting a drug developed through…
GM bought back $10 billion in stock since 2015, double what job cuts will save
By Irina Ivanova “When General Motors announced it was cutting up to 14,000 jobs and idling five automotive plants, it justified the massive cuts by citing long-term savings. The cuts would free up $6 billion in cash, for a net…
