Thread regarding ConocoPhillips layoffs

Once a company engages in share repurchases they are inevitably trapped into continuing to repurchase shares to keep asset prices elevated. Why do they keep increasing and accelerating the share repurchase program (from 3 billion to 6 billion dollars and now an ADDITIONAL 9 billion) if this isn't true? Case in point, straight from the COP 2018 Annual Report:

"On November 10, 2016, we announced plans to purchase up to $3 billion of our common stock through 2019. On March 29, 2017, we announced plans to double our share repurchase program to $6 billion of common stock through 2019, with $3 billion allocated and purchased in 2017, and the remainder allocated evenly to 2018 and 2019. On February 1, 2018, we announced the acceleration of our previously stated 2018 share repurchases from $1.5 billion to $2 billion. On July 12, 2018, we announced plans to further accelerate our 2018 share repurchases to $3 billion. The 2018 expansion to $3 billion, combined with the $3 billion of shares authorization of $6 billion. As a result, our Board authorized an additional $9 billion for share repurchases, at any time or from time to time (whether before, on or after December 31, 2019), bringing the total program conditions and other factors. Repurchases may be increased, decreased or discontinued at any time without prior notice. Shares of stock repurchased under the plan are held as treasury shares."

The company would be better served if they changed the P to mean Pride instead. If the ELT treated the assets with the same level of pride as the individual contributors who actually work them, leadership would have no choice but to fund them to grow the company. Instead, the company ignores and underfunds solid assets and the people still assigned to those teams lose the pride in the work they once had. This is a sure fire way to make employees lose respect and loyalty to the company.

If anyone remembers back far enough the last CEO pushed a big share buyback campaign for quite a while. Propped up the price just long enough to catch a big golden parachute out. Maybe that's the plan here

As has been posted here many times: the ELT don’t care about employees or stockholders, their goal is enriching themselves, telling everyone how brilliant they are, and taking care of their friends who are similarly good at PowerPoint.

So the P in SPIRIT doesn’t mean anything is what the last poster is saying? How much money do we spend on COP propaganda? I am a shareholder and that is not getting me any value so if it’s a load of sh-- then maybe we should just cut it out?

Lay the propagandists off please.

It makes shares more valuable because ownership is less diluted, including all the retirees, institutions, and employees who have participated in the ESPP. Ultimately, the board serves at the pleasure of the shareholders, hires execs to serve the shareholders, and employees work for the shareholders. That's how companies are supposed to work. And if a company's liquidation is seen to be in the best interest of the shareholders, well, them's the breaks too.

Why invest in the company when your only plan is to flip it and get your golden parachute? P is for the people at the top (ELT....and maybe the rest of the investors), peons don’t count at COP.

You can go back to making your PowerPoint now, or get back to your fifth worthless meeting of the day.