By Chris Isidore
“It sure wouldn’t have hurt. Sears’ ability to stay in business is in doubt after the company filed for bankruptcy protection this month.
Yet Sears spent $6 billion buying back its own shares since 2005 in a futile effort to help support its stock price. The stock plunged more than 99% in value, from a high of $143.91 in 2007 to less than $1 a share a couple of weeks before its bankruptcy filing. In bankruptcy, the shares are essentially worthless.”…
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