Post AS2ZB8izyhxaXa8uiO by xwordy@mastodon.sdf.org
 (DIR) More posts by xwordy@mastodon.sdf.org
 (DIR) Post #AS2ZB8izyhxaXa8uiO by xwordy@mastodon.sdf.org
       2023-01-26T16:11:05Z
       
       0 likes, 0 repeats
       
       Tell me again about how Biden is to blame for high gas prices."The stock repurchase program will kick in April 1 and will be triple the size of the previous authorization unveiled in early 2019, the company said in a statement Wednesday. The program is equivalent to almost one-fourth of the company’s market value and five times the current level of annual buybacks."Like my Memaw used to say, "Them as has, gets."https://www.bloomberg.com/news/articles/2023-01-25/chevron-raises-dividend-plans-to-buy-back-75-billion-in-stock?srnd=premium&sref=KkPzpZvz
       
 (DIR) Post #AS2ZBCwcI1EJcyXqUq by publius@mastodon.sdf.org
       2023-01-26T16:25:11Z
       
       0 likes, 0 repeats
       
       @xwordy Share buybacks used to be unlawful, or at the very least strongly restricted, because they were seen as closely linked to fraudulent manipulation of the markets. Since Reagan came in, it has become standard practice to borrow against the value of a company in order to buy back shares.