Spent $12b in stock buybacks, now worth $7b, and loaded with debt. When will companies learn that stock buybacks are a terrible way to spend their money, and i

Spent $12b in stock buybacks, now worth $7b, and loaded with debt. When will companies learn that stock buybacks are a terrible way to spend their money, and in AA case, their debt... Their debt would be at 50% of its current without that buyback, and its entirely possible the stock price would be unchanged. Buybacks basically never have the stated outcome of boosting the share price, they just use up all the money, so now your company can't spend it in making itself better.