By Yves Smith “Yves here. This article is a bit geeky but very much worth your attention. It shows how pharmaceutical companies are flat out lying when they say they need higher drug prices to support R&D. Their profits go…
Author: admin
Banning buybacks
By Institute for New Economic Thinking ” Companies like Apple and Google make billions for rich investors by buying back their own stock—at the expense of workers, the public, and the planet. Economist Bill Lazonick says it’s time to ban…
SEC Commissioner wants to pump the brakes on corporate stock buybacks
By Editor “SEC Commissioner Robert Jackson says U.S. corporations aren’t helping build the economy. They’re using tax cuts to buy back their own stocks. He wants to put the brakes on the common corporate practice. Guest Robert Jackson Jr., commissioner…
How did American CEOs get so rich?
By Liz Scheltens “On October 24, 1929, the American stock market crashed. Fortunes disappeared overnight, and the value of American companies tanked. But the people in charge of those companies had an idea: They started buying shares of their own…
Do stock buybacks constitute a ‘license to loot
By Proinsias O’Mahony “US companies, flush with cash following Donald Trump’s corporate tax cuts, spent a record $930 billion on stock buybacks last year: a similar outlay is expected in 2019. Buybacks have returned $5 trillion to shareholders since 2009,…
Stock buybacks: How Wall Street has created “profits without prosperity
By Cory Doctorow “For years, the Harvard Business School fellow William Lazonick has been writing about the rise of the “shareholder value” doctrine in capital markets, and how that has driven financial engineering tactics like stock buybacks, which allow shareholders (including top executives)…
Lower paybacks show higher future returns
By Alexander Wetterling “Share buybacks have been hotly debated over the past few years. Following the debate, there have been financial discussions, but also many political debates. Let’s take a look at some commonly raised views raised in the buyback…
Stock Buybacks Threaten Economic Growth
By Michelle Celarier “Soon after economist William Lazonick became a fellow at Harvard Business School in 1984, the world he had studied for decades began to radically change. Instead of plowing their profits back into their businesses, companies were being…
Big business needs to turn its rhetoric into reality
By Frank Islam and Ed Crego “The country is at a pivot point. For America to be America again, big business must step up to the plate and use its clout to benefit not only the CEOs and the shareholders…
Why prescription drugs cost so much more in America
The US spends more per capita on medication than anywhere else in the world. It’s a key electoral issue
