Have stock buybacks lost their credibility?

By S. L. Mintz

In May, Atlanta-based Delta Air Lines unveiled its intention to wrap up a $5 billion buyback program. Why, in this age of continual buyback announcements, is this surprising? Stock repurchases routinely garner a lot of investor attention when they debut, as companies boast of the return of excess cash to shareholders and the upticks in earnings per share that they believe will result.”…

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