Originally Posted by
WesternSkies
Stock buybacks will someday be looked at in history books as dumbfounding.
How much more money would BB have if rjet wasn't bought back those times.
There should be a special place for CEOs that buyback stock only to take their company to shamruptcy.
Rigged.
I agree that money used in buybacks could be better spent elsewhere, but unfortunately it is a Wall Street thing. Investors (sheep) like them for some reason. I would much rather we pay down debt or spend it on facilities/asset CAPEX. At $45/share and 800M shares outstanding, the needle won't move with the amounts they are spending.
Also, I just noticed that DAL has not moved with the rest of the industry following JBLU's fare hike. Cramer commented on this fare hike yesterday as the industry falling back into the old way of doing things. (fare sales and increased capacity). I think this will be an interesting quarter, but I am looking to trim my positions in the industry.