“The economy gains 166,000 jobs” shout the headlines from the LA times. Viacom profit shoots up to 80%, while GM apparently finds it tougher in China – profit slid to 14% even though the volume of cars sold rose to 27% of the total car market yell some others. The news is mixed as they say. Ford eradicates 60,000 jobs, Yahoo apologizes to congress (but not to the Chinese man, Shi Tao, it helped send to prison for 10 years) and I begin to sense a pattern here. For every up there seems to be a down. Factory orders are up but Chevron fails to cash in on high oil prices and lays the blame on California’s lower pump prices ($3 a gal ???) instead of the massive buy back program its huge profits have allowed it to use to increase its share value – over $30 billion of buy backs in the last two years.
Yes, now I see it. It is all in the ebb and flow. But if you Google share buy back, you will see where your money is really going. I see where they punished another CEO with a 165 million dollar buy out the other day. Well, never mind that, it’s a free market economy, isn’t it?