this post was submitted on 16 Jun 2024
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[Dormant] Electric Vehicles

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GM had $6 billion to spend on next-gen EVs, chose stock buybacks | opinion (electrek.co)
submitted 5 months ago by threelonmusketeers@sh.itjust.works to c/evs@lemmy.world
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Someone ought to make a clown applying makeup on how GM is handling the transition to EVs...

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[–] A_Random_Idiot@lemmy.world 56 points 5 months ago (1 children)

regular reminder that stock buybacks were, at one point in time, practically (but not literally) illegal because it was considered stock manipulation and anyone that did it would have the heavy hand of government come down on them and start going for a probin.

And, like seemingly everything else bad in the country, Stock buybacks were deregulated under Reagan leading to today.

[–] RunawayFixer@lemmy.world 18 points 5 months ago

I'm tacking on this opinion article from 2020 with a few good examples/explanations of how bad stock buybacks are in the long term.

https://www.forbes.com/sites/petergeorgescu/2020/05/13/stock-buybacks-are-banned-let-it-be-a-trend/

Boeing and general electric are of course mentioned. The line goes up, until it doesn't. The key to being a successful CEO, seems to be, to be the one making the line go up and then gtfo before it comes crashing down.