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To: puzzlecraft who wrote (117961)	5/2/2002 3:07:12 PM
From: John Koligman	Respond to of 152472

OT Ford did a rather large distribution a few years back when they thought they had more cash than they knew what to do with. I could never quite understand why firms in industries that require heavy cash investment to create new product/weather downturns would not be a bit more prudent, but what do I know??? This is especially true of the auto industry and it's periodic boom/bust cycles... Of course the result at Ford is that the CEO is now 'retired' and a Ford is back in the saddle. Regards, John PS - On the other hand, I think Microsoft has been pretty smart in amassing and keeping that huge cash hoard. They have made a few boneheaded moves, especially in dumping a few billion AT&T's way, but they can well afford these mistakes...

To: puzzlecraft who wrote (117961)	5/2/2002 3:07:12 PM
From: puzzlecraft	Read Replies (1) \| Respond to of 152472

Every time I read a message on this thread or any other SI thread, two files are automatically downloaded to my disk from "http://www.bidclix.net/pics/AdUnits" with file names like "kdm7fwc9.binary", "1i402kvj.binary", "etpxdoz8.binary" , won't be around any more if this keeps up. Edit: Happens with Netcape, not Explorer. Two files every message, desktop fills up real fast. Started last night.

To: puzzlecraft who wrote (117961)	5/2/2002 3:26:45 PM
From: Skeeter Bug	Respond to of 152472

>>If I were running a co. making a lot of $ I'd consider allocating some % of annual income to buy back stock with, but not consider going back into an accumulated pile from previous years to buy back stock, rather keep it for slow times or looks for business expansion opportunities via R&D, increased marketing and acquisitions.<< in general, ceos are out for their own pocket, period. they buy back stock to goose their share price so they can unload their personal shares on the unsuspecting. once that's done, they aren't worried too much about price. in fact, getting new options at pennies on the dollar is a pretty sweet deal for them.

To: puzzlecraft who wrote (117961)	5/2/2002 3:52:36 PM
From: sea_biscuit	Respond to of 152472

If I were running a co. making a lot of $ I'd consider allocating some % of annual income to buy back stock with, but not consider going back into an accumulated pile from previous years to buy back stock... Companies have even gone into DEBT to buy back shares, so that they can beef up their earnings numbers. Apparently, just plain flat-out lying (aka "pro forma" reports) couldn't do the job. This has been happening even in the best of companies, not just the tech cos. That is why we will see a very broad-based bear-market over the coming years that will put in place just about every stock in the large-cap universe.