Nisprah
Robert ReichCorporations spent ~$800 BILLION on stock buybacks last year.
Why? Follow the money.
Stock-based pay made up 70% of executive compensation last year.
Stock buybacks are a scam to make the richest even richer.
It’s no wonder they used to be banned.
MasterMischief@rbreich That seems like an awful lot of money to be tossing around when inflationary prices are hurting corporations so much.
craignicol@rbreich it's telling that both HBR and Forbes are calling out stock buybacks, and suggesting they should be made illegal again (Although I notice the Financial Times is still trying to say they're a good thing.)
Sashin@rbreich Please apply pressure on Harris to make this illegal again and to take concrete step to reverse all of this damage.
Big Head Tales@rbreich
Stock buybacks only really benefit company executives and billionaire investors while hurting employees and the companies.
They should be made illegal again,