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stock price??
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<blockquote data-quote="Capt. Ramius" data-source="post: 102528" data-attributes="member: 5755"><p>Yeah... somebody was buying. More than likely it was the traders at the Finance or Treasury group at corporate buying back the shares to prop up the price the best they could.</p><p></p><p>I know a good deal of public companies use the buy-back route...but as a shareowner, I'd rather have management look for projects/opportunites that produce returns in excess of what my firm (in this case UPS) is doing--which if you look at average returns...shouldn't be too hard. Instead, authorizing billions of $$ for buy-back, IMHO, is not a good use of the firm's resources. They should be investing in assets that increases shareowner wealth.</p><p></p><p>In general, the whole "we're investing in ourselves" (read "to prop up EPS each quarter") is a fool's game.... what's next? shell corporations that'll come crumbling down like a certain energy company in Texas? Hmmm....</p></blockquote><p></p>
[QUOTE="Capt. Ramius, post: 102528, member: 5755"] Yeah... somebody was buying. More than likely it was the traders at the Finance or Treasury group at corporate buying back the shares to prop up the price the best they could. I know a good deal of public companies use the buy-back route...but as a shareowner, I'd rather have management look for projects/opportunites that produce returns in excess of what my firm (in this case UPS) is doing--which if you look at average returns...shouldn't be too hard. Instead, authorizing billions of $$ for buy-back, IMHO, is not a good use of the firm's resources. They should be investing in assets that increases shareowner wealth. In general, the whole "we're investing in ourselves" (read "to prop up EPS each quarter") is a fool's game.... what's next? shell corporations that'll come crumbling down like a certain energy company in Texas? Hmmm.... [/QUOTE]
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