An entire department was just rendered useless. I genuinely don't feel bad.
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Now let's make corporate stock manipulation illegal again and ban corporate stock buybacks. Talk about a purely manipulative business strategy.
-Stock buybacks are not manipulation, they’re simply a way to return cash to shareholders and then the shareholder decides when to incur tax liability. A company is well within its rights to issue additional shares or buy back and destroy shares at their discretion. It’s functionally equivalent to a dividend without a taxable event.
-Corporate boards award stock grants to executives because they want management to be aligned with shareholders. I think executive compensation is excessive, but stock grants do align management and shareholders.