Every dollar should be put back in the stores and in technology. Billions have already been flushed down the toilet to prop up the EPS temporarily so that the old Fat Cats could cash out before they were booted out. This is a travesty. One bad report can send this stock down 25% in a day. There are more shorts in this stock than a house wired by a drunken electrician.
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The signal they are sending is that we are up for sale. Once they've bought back enough stock they can take us private, then they don't have to report to shareholders and can gut the company. Seen this happen too many times. In other words, the leadership has no confidence in being able to turn the company around, and it's now becoming about liquidizing the assets and securing their severance packages.
It’s more important for the company to become relevant in its technology than to seek to go private. A turnaround would use the markets for its funding. This is just an avenue the company has already gone down and failed miserably.
I couldn’t agree More. I think spending more than half is. Crazy. But... I heard an investor group talk about the potential to do 3 big buybacks like that which would allow the company to go private