Originally Posted by
Gooner
True, but that does not excuse the unbelievable amount of capital that has been burned on questionable buybacks. We operate in an extremely capital intensive business, a billion goes along way to solve lots of problems. Not sure we’ve solved many by spending +$5billion on buying stock, unless it comes to overcompensating a very small group of employees.
Warren buffet didn’t think the buyback was questionable...in fact he said he was impressed that they borrowed money to enable a larger buyback.