This front-page Boston Globe article on the negative impacts of stock repurchases on employment and income distribution quotes Bill Lazonick as saying: “Stock buybacks should be illegal. They are manipulation of the market.” [Click HERE to read the full article]
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McDonald’s workers march to corporate headquarters
By Stephon Johnson “Last week, 5,000 McDonald’s workers made their way to the company’s headquarters in the largest ever protest at the annual shareholder meeting. Cooks and cashiers voiced their anger over a lack of increase in wages that forces…
Big Firms Increasingly Resort To ‘Corporate Cocaine’
In a Forbes.com article, Steve Denning explains why the practice of massive share buybacks among public companies is like “snorting corporate cocaine.” [Click HERE to read the full article]
Hit-and-run shareholders like Carl Icahn eat at Apple’s core
Globe & Mail columnist Eric Reguly reports on hedge-fund predator Carl Icahn’s continued activism to get Apple to do ever more buybacks to pump up its stock prices so that, at a propitious time, he can dump the stock for…
Big firms increasingly resort to ‘corporate cocaine’
By Steve Denning “A new study by S&P Capital IQ, announced now in the Wall Street Journal, shows that public companies continue to sharply increase their spending on share buybacks and dividends, while decreasing spending on investment.”… [Click HERE to read…
Why stock buybacks are good for the economy and the Country
By Greg Satell “Self-interest has always been a primary tenet of capitalism. As Adam Smith famously wrote, “It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to…
Hit-and-run shareholders like Carl Icahn eat at Apple’s core
By Eric Reguly “Carl Icahn had absolutely nothing to do with Apple Inc.‘s phenomenal success, yet he wants to loot its treasure for his own gain. Sadly, Apple is complying. The company’s new strategy is, apparently, to reward short-term investors, not…
Why we are marching on McDonald’s
By Rev. William Barber and Rev. Rodney Williams “In 1967, Martin Luther King Jr. said: “We must rapidly begin the shift from a ‘thing-oriented’ society to a ‘person-oriented’ society. When machines and computers, profit motives and property rights are considered more…
5000 workers descend on McDonald’s shareholder meeting
By Jack Temple “Marching behind a giant banner that read, “McDonald’s: $15 and Union Rights, Not Food Stamps,” 5,000 cooks and cashiers massed at the company’s corporate headquarters Wednesday to kick off the largest-ever protest to hit the burger giant’s annual shareholder…
McDonald’s workers deliver 1.4 million petition signatures to company’s annual shareholder meeting calling for $15, union rights
By Jack Temple “Less than 24 hours after 5,000 workers marched on McDonald’s corporate headquarters, the burger giant’s cooks and cashiers returned to Oak Brook Thursday morning to bring their call for $15 and union rights directly to the company’s…
