(C) Common Dreams
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GM’s Stock Buyback Is Bad for America and the Company [1]

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Date: 2015-03-11 12:00:09+00:00

General Motors’ announcement that it will settle a fight with activist shareholders by buying back $5 billion in stock over the coming 21 months is a major loss for American taxpayers and GM’s workers. The investors’ leader, Harry J. Wilson, called the deal a ”win-win outcome.” But the only real wins are a victory for the hedge funds, and a Pyrrhic victory for GM in that it managed to keep Wilson off its board and reduced the size of the buyback from the $8 billion the investors had been demanding.

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[1] Url: https://hbr.org/2015/03/gms-stock-buyback-is-bad-for-america-and-the-company#:~:text=One%20of%20us%20(Bill%20Lazonick,boosts%20to%20GM's%20stock%20price.

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