Executives Buying Stocks Like Crazy

A friend sent a link to an article:

Executives buy back stock at fastest rate since March 2009

You know, it’s kinda difficult to read that, but when you do, and you read between the lines, you realize that executives are practically the only people left with cash in their pockets (besides Senators and Congressmen *grin* ).  I heard a statistic this a.m. on the radio:  nearly 65% of Americans are living from paycheck to paycheck with very little savings (not even $1,000 in the bank!).  And a full 30% of Americans have nothing at all ($0 in their pockets).  The real scary thing about those stats is that it says more than half of all America is completely broke – and we’re not even at the end of the recession yet (no jobs recovery).  I envy those executives being able to buy stocks.

I guess it’s from all those “bonuses” they have in their pockets that they haven’t cashed in yet.  It’s from companies like Cisco laying off folks so that those executives can keep their bonuses and keep the company “profitable.”  They always say they want to keep it profitable for the share-holders.  Well, that’s important, but I am cynical, so I think their motives are a little more dark, and they are really keeping the company profitable for themselves – so they can take those big bonuses and go make more money – while the rest of America is forced to live off table scraps.

This has nothing to do at all with whether making a profit is the right thing for a company or corporation to do.  It has everything to do with whether they are doing “right” things, and not just doing things right.

Do I hear any other opinions on this?



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