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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (72144)	12/21/1999 12:31:00 AM
From: BGR	Read Replies (1) \| Respond to of 132070

Wayne, I appreciate (but differ with) the first point. We already have discussed that a lot, in particular with Mike. My position on the second problem has always been that it is a subjective issue. I am long, so I am happy. You (not you in particular, the general you) were short, so you were unhappy. Greenspan could never have pleased both at the same time, wealth transfer in one way or the other was inevitable. So, he is in a lose-lose position. So, wealth transfer is not an issue to be considered when judging the merits of his move. The effect on the bigger economy is, which brings us to the first point. -BGR.

To: Freedom Fighter who wrote (72144)	12/21/1999 1:01:00 AM
From: Simba	Read Replies (2) \| Respond to of 132070

Can someone tell me if a share buyback is exactly equivalent to the issue of dividends ? I am not a business major, so please bear with me. My thinking is that it is not exactly the same from an investor standpoint. I would prefer a dividend (hard money) than the hope of a capital gain induced by an artificial boost to EPS based on a shrinking share base. In some cases the buyback does not seem to have the intended effect. For example, for all of 99 Boeing spent 1.6 Billion on buying it shares back but it has not had the magic effect on its share price that the CFO intended. In fact they bought it at higher prices than the current one. I think a share holder would have done better with a direct dividend in this case atleast for the short term. Any opinions ? Simba