- Joined
- Feb 5, 2012
- Messages
- 184
More corporate bullshit, Cornell's no different than Steinhafel, it's the damn board that needs to be replaced, not the CEO. From another article on this:
So, all those layoffs to save money? They're using it to buy back stock, just like they started doing toward the end of Steinhafel's reign. You know what happens to stock price when the company starts buying it back? It goes up so the board and other top executives who get paid in stock can sell it.
They're cannibalizing the company to line their own pockets.
http://www.reuters.com/article/2015/03/04/us-target-outlook-idUSKBN0LZ2FW20150304The company also said it had the capacity to buy back up to $2 billion worth of its own shares this fiscal year, and looks to repurchase $3 billion annually from the following year and beyond.
So, all those layoffs to save money? They're using it to buy back stock, just like they started doing toward the end of Steinhafel's reign. You know what happens to stock price when the company starts buying it back? It goes up so the board and other top executives who get paid in stock can sell it.
They're cannibalizing the company to line their own pockets.