Dan and his evil cronies fired you to buy back $1b worth of shares. Just evil
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@av thank you for noticing. That is correct. It was my attempt to highlight the hypocrisy of celebrating results and promotions on the backs of thousands of lives ruined. What a sad society we have become.
@a2 I read this as an irony, sadly realizing how many readers around here aren't capable of recognising it
@ag that makes him corrupt by enabling artificially inflated share prices, which would trigger short-term gains, getting bonuses, etc. but akin to market manipulation and insider trading (par for the course in recent times). The money for those buybacks often times comes from layoffs.
@aj Reagan didn’t “legalize” buybacks outright — but his SEC made them safe, routine, and effectively unrestricted.
Rule 10b‑18 turned buybacks from a legally risky, rarely used tactic into a central pillar of U.S. corporate finance.
Prior to the Reagan-era SEC rule, routine open‑market repurchases were viewed as potential stock‑price manipulation under Section 9(a)(2) and Rule 10b‑5 of the Securities Exchange Act.
Companies could buy back shares, but doing so risked lawsuits or SEC enforcement because the act of bidding for your own stock could be interpreted as artificially supporting the price.
@a9 False. Stock buybacks were legal prior to Reagan's first term. Easily confirmed with a little research.
That makes him smart.
There's a reason why buybacks were illegal in the US until, you guessed it, St. Ronnie allowed them again, with minimal oversight.
In the rest of the industrialized world they're tightly regulated to avoid insider trading and market manipulation.
We don’t need that negative energy here. It’s called capitalism. Corporations must do what’s right for the business, our communities, and the customers we serve. I am celebrating Verizon’s 2Q results, the timely promotions some have announced with glee and self admiration on LinkedIn, and hundreds of open jobs on the Verizon site.
YOU BETCHA