Yep. The company wasted billions of $$ buying old waste paper - by this method, they bought back shares and then cancelled them. The justification was to increa

Yep. The company wasted billions of $$ buying old waste paper - by this method, they bought back shares and then cancelled them. The justification was to increase the share price = foolish. Money that could have designed and built a few state of the art small submicron fabs was wasted.