Hacker News Reader

No, it’s extracting more money out of different people. Because they’re a more profitable target for investment than the former people.

Their function is to maximize profit. I doubt they think about their company's position in society often if at all.

But there are many factors. Allowing stock buybacks is definitely one of those.

If I'm reading this chart right they're spending about $500M/quarter on buybacks? https://www.financecharts.com/stocks/MCD/cash-flow/repurchas...

publicly traded company, the stock price must go up. always.

and it's not the executives, it's the owners. those on the board, or who own a ton of shares.

stock price doesn't go up and those execs get replaced until they find someone who will.