Visiting Sydney, Bill Lazonick was interviewed on the national evening business program of the Australian Broadcasting Company: http://www.abc.net.au/news/2012-07-10/share-buybacks-leading-to-lack-in-strategic-vision/4122650. He argued that the US practice of stock buybacks not only deprives US corporations of finance for innovation but also gets top executives off the hook for charting strategic visions for the companies that they are supposed to lead.
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