Originally Posted by
tsquare
Nothing new here. The BOD approved $500M in stock buy back some time ago. I seriously scratch my head over it because with 850 M shares outstanding and a $34 stock price, this does nothing to pump up the stock price... only about a 1% return. Paying down debt would produce a much better return, but I only went to a state school, so these high finance maneuvers are pretty much over my head. And I am pretty sure that $400 million could be leveraged to buy a few big airplanes with which to generate even more revenue. *sigh*
Of course none of this has anything to do with DALPA, but don't let that get in the way of a good rant.
So you think we should continue to work for chapter 11 pay rates while management chooses to buy back stock to enrich themselves? Does the stock bought back provide a conduit for management to reward themselves without issuing shares?
You have yours, I get it.