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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Earlie who wrote (198401)10/17/2002 11:23:41 PM
From: Activatecard  Read Replies (2) of 436258
 
Earlie,

Went back seven quarters to the first quarter 2001. IBM spent approximately 9.5 billion on their share repurchase program. Basic common shares outstanding were reduced from approximately 1.74 billion to 1.69 billion or 50 million shares. Effectively, they paid $190.00/share. The buy-back made somebody rich, but it wasn't the shareholders.

Steve
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