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Politics : Ask Michael Burke

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To: Earlie who wrote (53219)	3/23/1999 7:31:00 PM
From: Monty Lenard	Read Replies (1) of 132070

Hi Earlie, there was an interesting tidbit in USA Today money section concerning the debt being incurred by corp America. It seems that in 1997 approx 23-28% of corp earnings were used to buy back stock. In 1998 it number is something like 58%. And in fact the companies were incurring debt to repurchase stock. A recent example is T issuing debt for, among other things, a stock repurchase. The reason this is being done is to enhance the stock price by which most corp executives are judged. In other words, they are feathering their beds at the expense of the other shareholders. FWIW Monty

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