Buyback boondoggle: Are share buybacks killing companies

By Eric Reguly

Paul Polman, the CEO of Unilever, thinks American-style capitalism is broken, and he blames, in good part, the cult of shareholder value that has been all the rage since the 1980s. Since taking the helm in 2009 of the Anglo-Dutch consumer products giant that owns Ben & Jerry’s ice cream, Dove soap and Lipton tea, Polman has eliminated quarterly profit reports, refused to give earnings guidance to analysts and informed hedge funds that they will not be indulged.”…

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