Stock Buybacks Cross $200 Billion

JM Ashby
Written by JM Ashby

Republicans have attacked House Minority Leader Nancy Pelosi (D-CA) for saying the small bonuses that an even smaller number of Americans have received are "crumbs," but what else could you call it when compared to what the richest Americans have received?

The Wall Street Journal reports that American companies have now spent $200 billion pumping up the price of their own stocks.

Share buybacks announced by large U.S. companies have exceeded $200 billion in the past three months, more than double the prior year, according to a Wall Street Journal analysis of data for S&P 500 companies.

Among the biggest: Cisco Systems Inc. at $25 billion, Wells Fargo & Co. at about $21 billion, PepsiCo Inc. at $15 billion, AbbVie Inc. and Amgen Inc. at $10 billion apiece, and Alphabet Inc. at $8.6 billion.

American companies are expected to spend at least $500 billion on buybacks this year according to the Wall Street Journal citing analysis from Goldman Sachs.

I'm not an expert so I'll defer to their analysis, but I will say if companies have already spent $200 billion by the first of March, $500 billion may be too small a figure.

What we can say with absolute certainty is that average employees and workers are not going to see more than few percentage points of any of it. Unless you are a rich shareholder, you have been hoodwinked.

  • muselet

    During what little debate was allowed on the tax deform bill, congressional Rs were outraged! when anyone suggested companies would spend their tax savings on stock buybacks.

    It’s almost as if the Rs lied to us.


    • Tony Lavely

      Well, IIRC the companies themselves were pretty clear.

  • Aynwrong

    You mean that the greatest beneficiaries of the tax scam bill aren’t plowing the financial blowjob windfall that Trump is giving them back into the economy and investing in new equipment and creating more jobs? Ya mean the trickle down ain’t trickling down?

    Ya mean Trump’s not draining the swamp?!?

    Gosh… If only someone could have predicted. If only…

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