Stock Buyback Frenzy, Part 119

Monday, January 18, 2016
Posted in category Financial Markets

Balance sheet beheading – one of the many variables pointing to the fact that things are on target to go boom all over again. Tom Woods: are you at the ready to pen “Meltdown” Part 2?

The same Goldman Sachs report showed buybacks totaling just $155 billion in 2009, the nadir of the financial crisis. The year before the crisis, 2007, share buyback executions totaled $760 billion.

General Motors Co. last week said it plans to boost its current buyback program by 80% and extend it through 2017. Domino’s Pizza Inc.’s finance chief, Jeffrey Lawrence told investors at a presentation last week that it is “in the market executing an accelerated share repurchase” of $600 million, which will be completed by the end of the first quarter, according to a transcript.

Love this guy’s comment on WSJ:

jim paulsen wrote:

Hasn’t there been enough “financial engineering” to artificially inseminate earnings? Isn’t time for companies to actually grow the top line?

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One Response to Stock Buyback Frenzy, Part 119

  1. Hazel says:

    January 25th, 2016 at 3:05 pm

    What can General Motors expect from an obliterated middle class of folks who earn $8 per hour? What can any corporation expect from them?

    Banker economy killers heed; you reap what you’ve sown. Enjoy your just desserts.

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