Kroger and Albertsons are spending billions to reward shareholders after their blocked merger
https://www.nbcnews.com/business/business-news/kroger-albertsons-are-spending-billions-stock-buybacks-blocked-merger-rcna183829
113 points · 2 comments · view on lemmy.world
2 Comments
Veedem@lemmy.world · 36 pts · 1y
Man, stock buybacks are such a scam and should go back to being illegal. It’s just market manipulation and saps resources away from everything else, especially wages.
halcyoncmdr@lemmy.world · 18 pts · 1y
Yeah. Same with the 90% upper tax bracket. No companies ever paid that, that would be throwing money away. They instead reinvested that cash into the business in things like wages because that was a better use than paying it in taxes.