Anonymus “SINCE Apple said in January that it would bring back most of the US$252 billion it held abroad under the new tax law, investors have wondered what the company would do with the enormous cash pile. On Tuesday, those…
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Big 4 US banks driving lion’s share of industry buybacks
By Brian Cheung and Venkatesh Iyer “The Big Four U.S. banks have fueled a stock buyback frenzy in recent years, despite facing the tightest regulatory capital constraints in the industry. Regulators and lawmakers are now considering loosening some of these…
The vapid defense of share buybacks
By Harold Meyerson “This past Sunday, with the share buybacks of American corporations at an all-time high, The Washington Post business section ran a major piece documenting buybacks’ rise and giving the arguments for and against the practice. And the arguments for, I’m compelled to…
Trump’s reversal on Trans-Pacific Partnership ca be explained by a current art show and a new book
By Charles Mudede “The Washington Post reports that Donald Trump now wants the US to rejoin the Trans-Pacific Partnership, a “multination trade agreement he pulled the United States out of shortly after taking office.” It’s often said that Trump’s presidential run was…
Stop GE from goosing CEO pay through share buybacks
By James McRitchie “According to last year’s proxy statement, a substantial proportion of executive compensation for 2016 was based on performance targets, including earnings per share (EPS). We support performance metrics that align senior executive pay with long-term sustainable growth. However,…
Why it’s raining share buybacks on Wall Street
By Steve Denning “The Economist has called them “an addiction to corporate cocaine.” Reuters has called them “self-cannibalization.” The Financial Times has called them “an overwhelming conflict of interest.” In an article that won the HBR McKinsey Award for the best article of the year, Harvard…
Corporate stock buybacks are booming, thanks to the Republican tax cuts
By Emily Stewart “Right after Republicans in Congress passed their tax bill, lowering tax rates on corporations, companies delivered a very public thank-you: a series of bonus and investment announcements. It was a major PR opportunity for both corporate America and the GOP, meant to show…
U.S. Senator Tammy Baldwin introduces legislation to rein in buybacks and give workers a seat at the table
By the Press Releases of U.S Senator Tammy Baldwin “Today, U.S. Senator Tammy Baldwin introduced legislation to rein in corporate America’s addiction to stock buybacks by giving workers a say in how their company’s profits are spent. The Reward Work…
Exclusive: Democrats plan crackdown on booming stock buybacks
By Matt Egan “Senator Tammy Baldwin plans to introduce a bill on Thursday that would prohibit companies from repurchasing their shares on the open market, Baldwin told CNNMoney.”… [Click HERE to read the full article]
Who is watching Wall Street?
By Lenore Palladino “Since the ink dried on the GOP tax plan, officially known as the Tax Cut and Jobs Act, back in December 2017, companies have spent over $218 billion dollars re-purchasing their own stock at the going price…
