Originally Posted by
paulcg77
Wow. Best analysis I've read of this whole shtshow. I wish every single pilot (heck, every single American) read this. It should be required reading.
Again, read this and like everything, what's normal gets taken to extreme, like AA literally borrowing money to buy stock, but when profits are rolling in, does anyone really think a company can just keep like $20B in the bank as cash and not be a target of takeover by hostile forces which ultimately use your own money to fund the takeover?
Companies were also spending billions on new airport facilities, airplanes and significant pay increases over this same period so to claim that the buybacks were done at the expense of properly running a company is slightly disingenuous.