3 ms·
> Boeing spent $43B on stock buybacks between 2013 and 2019 Stock buybacks should be illegal or at least very difficult to do. They provide short-term gain to
by insane_dreamer 2y ago
> Boeing spent $43B on stock buybacks between 2013 and 2019
Stock buybacks should be illegal or at least very difficult to do. They provide short-term gain to shareholders (and the executives who authorize them to prop up the stock price on which their bonuses depend) but can be extremely damaging to the company long-term (by which time the CEO is out anyway, and shareholders may have reaped their profits and moved on), with workers, and the local economy, left paying the price. The worst kind of capitalist poison.