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Strategies & Market Trends : Making Money is Main Objective
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To: Softechie who started this subject12/23/2000 2:54:05 PM
From: Softechie  Read Replies (1) of 2155
 
To: marginmike who wrote (65108)
From: bobby beara Saturday, Dec 23, 2000 1:39 PM ET
Reply # of 65118

decisionpoint.com
For instance, recent data shows that Hewlett-Packard bought back some 128 million of its own shares near their peak in price, and lost - are you sitting down- $3.7 billion on those shares in the stock's subsequent plunge this year. H-P had plenty of company. Among other big losers;

AT&T lost $2.4 billion on the shares it bought back near their highs. Cendant lost $1.7 billion. IBM lost $3.7 billion. Microsoft lost $2.7 billion. The list is quite extensive. The total losses so far for corporate America, from its frenzy to buy its own stocks near the market's peak, exceed $200 billion. That's a significant portion of the $1.2 trillion of stock market value that has been wiped out.
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