🚀 go-pugleaf

scott@slp53.sl.home (Scott Lurndal) writes:
> Many (Most?) CEO's have indicated they'll return the cash to shareholders rather
> than invest in plant or people.   There obviously will be exceptions by
> either altrusistic CEOS (one in 10000) or those currying favor from the
> idiot-in-chief.

Corporations Say Publicly They'll Pocket the Tax Cut, But Republicans
Aren't Listening
https://theintercept.com/2017/12/19/tax-bill-corporate-cut-stock-buyback-republican/
Share buyback machine now in overdrive -- dropping a strong hint at
what CEOs plan to do with tax savings
https://www.marketwatch.com/story/share-buybacks-spike-dropping-a-strong-hint-at-what-ceos-plan-to-do-with-tax-savings-2017-12-08
How Much Can Buybacks Rise on Tax Cuts? This Estimate Says 70%
https://www.bloomberg.com/news/articles/2018-01-03/how-much-can-buybacks-rise-on-tax-cuts-this-estimate-says-70
US firms will now focus on stock buybacks after tax cuts, David
Rubenstein says
https://www.cnbc.com/2018/01/24/us-firms-will-now-focus-on-stock-buybacks-after-tax-cuts-david-rubenstein-says.html

trivia: what company did David Rubenstein found? hint: what company
did the former president of AMEX go to after leaving as CEO of IBM?
http://www.motherjones.com/politics/2007/10/barbarians-capitol-private-equity-public-enemy/

Home Depot updates on tax bill impact
https://seekingalpha.com/news/3325245-home-depot-updates-tax-bill-impact
The Home Depot Awards Hourly Associates a One-Time Tax Reform Bonus;
Comments on Tax Cuts and Jobs Act of 2017
https://seekingalpha.com/pr/17056151-home-depot-awards-hourly-associates-one-time-tax-reform-bonus-comments-tax-cuts-jobs-act-2017
Announces Accelerated Business Investment Plan and $15 Billion Share
Repurchase Authorization
http://ir.homedepot.com/news-releases/2017/12-06-2017-110035522

Home Depot sets new $15 billion stock buyback program, affirms 2017 outlook
https://www.marketwatch.com/story/home-depot-sets-new-15-billion-stock-buyback-program-affirms-2017-outlook-2017-12-06
Home Depot sets $15 billion share buyback, investment plan
https://www.reuters.com/article/us-home-depot-outlook-investor-day/home-depot-sets-15-billion-share-buyback-investment-plan-idUSKBN1E01D9
Home Depot Gives Investors a $15 Billion Christmas Gift
https://www.fool.com/investing/2017/12/10/home-depot-gives-investors-a-15-billion-christmas.aspx
Home Depot to Launch $15 Billion Share Buyback Program
https://www.wsj.com/articles/home-depot-to-launch-15-billion-share-buyback-program-1512560836

also the Home Depot bonus announcements said "up to $1000" for
associates ... so the actual total bonus expense could be much less
than $385M ($1000 for 385K employees), Even at $385M is less than 3%
of $15B buyback

The Home Depot Awards Hourly Associates a One-Time Tax Reform Bonus;
Comments on Tax Cuts and Jobs Act of 2017
http://ir.homedepot.com/news-releases/2018/01-25-2018-130246180

IBM Asian Revenues Crash, Adjusted Earnings Beat On Tax Rate Fudge; Debt
Rises 20% To Fund Stock Buybacks
http://www.zerohedge.com/news/2014-01-21/ibm-asian-revenues-crash-adjusted-earnings-beat-tax-rate-fudge-debt-rises-20-fund-st
New IBM Buyback Plan Is For Over 10 Percent Of Its Stock
http://247wallst.com/technology-3/2013/10/29/new-ibm-buyback-plan-is-for-over-10-percent-of-its-stock/
The company has represented that its dividends and share repurchases
have come to a total of over $159 billion since 2000.

quote attributable to Volcker from Confidence Men: Wall Street,
Washington, and the Education of a President
http://www.amazon.com/Confidence-Men-Washington-Education-ebook/dp/B0089LOKKS

pg290:

Well, I said, 'The trouble with the United States recently is we spent
several decades not producing many civil engineers and producing a
huge number of financial engineers. And the result is s**tty bridges
and a s**tty financial system!'

... snip ...

Bad Ideas; Reknowned economist James K. Galbraith, one of our expert
panelists, pulls no punches in talking about the damage wrought by
financial innovation
https://www.gfmag.com/magazine/june-2017/bad-ideas
The Economist's Take on Financial Innovation
http://www.nakedcapitalism.com/2012/02/satyajit-das-pravda-the-economist%E2%80%99s-take-on-financial-innovation.html

The Real Reason Wages Have Stagnated: Our Economy Is Optimized For
Financialization
http://www.zerohedge.com/news/2017-09-08/real-reason-wages-have-stagnated-our-economy-optimized-financialization
The Limping Middle Class
http://www.nytimes.com/2011/09/04/opinion/sunday/jobs-will-follow-a-strengthening-of-the-middle-class.html
slouching towards 3rd world country status and return of the robber
barons.
http://www.nytimes.com/imagepages/2011/09/04/opinion/04reich-graphic.html?ref=sunday
How GE, GM, Coca-Cola And Kodak Put Shareholders Ahead Of Employees
https://www.forbes.com/sites/stevedenning/2017/06/29/how-ge-gm-coca-cola-kodak-put-shareholders-ahead-of-employees/
from here
http://www.epi.org/productivity-pay-gap/

this has HD buying back 1/3rd of its stock over the last 10yrs ... not
quite as egregious as IBM
http://www.vuru.co/analysis/HD/dividendsBuybacks
Buyback binge is going strong, but here is why they are not the
solution
https://www.cnbc.com/2017/02/21/buyback-binge-is-going-strong-but-here-is-why-they-are-not-the-solution.html

Home Depot is part of a select group of companies I call "buyback
monsters," companies that have bought back more than 25 percent of
their shares since 2000.

... snip ...

Stockman, 80s budget director, takes credit for accelerating SS
contribution increases and (double) taxing SS benefits ... so the
money could be used for DOD ... Great Deformation
http://www.amazon.com/Great-Deformation-Corruption-Capitalism-America/dp/1586489127/

pg464/loc9995-10000:

IBM was not the born-again growth machine trumpeted by the mob of Wall
Street momo traders. It was actually a stock buyback contraption on
steroids. During the five years ending in fiscal 2011, the company
spent a staggering $67 billion repurchasing its own shares, a figure
that was equal to 100 percent of its net income.

pg465/10014-17:

Total shareholder distributions, including dividends, amounted to $82
billion, or 122 percent, of net income over this five-year
period. Likewise, during the last five years IBM spent less on capital
investment than its depreciation and amortization charges, and also
shrank its constant dollar spending for research and development by
nearly 2 percent annually.

... snip ...

IBM Asian Revenues Crash, Adjusted Earnings Beat On Tax Rate Fudge;
Debt Rises 20% To Fund Stock Buybacks
http://www.zerohedge.com/news/2014-01-21/ibm-asian-revenues-crash-adjusted-earnings-beat-tax-rate-fudge-debt-rises-20-fund-st
New IBM Buyback Plan Is For Over 10 Percent Of Its Stock
http://247wallst.com/technology-3/2013/10/29/new-ibm-buyback-plan-is-for-over-10-percent-of-its-stock/

The company has represented that its dividends and share repurchases
have come to a total of over $159 billion since 2000.

... snip ...

stock buyback posts
http://www.garlic.com/~lynn/submisc.html#stock.buyback