Talk about highway robbery

NewYork Time: “Another document showed that executives were warned in a January 2008 meeting that the company was facing liquidity problems. Yet the firm moved forward with capital outlays, including $5 billion in bonuses, $4 billion in shares and $750,000 in dividend payments between 2007 and the firm’s bankruptcy filing on Sept. 15.”

It is just crazy. The boards awards boat load of options to its CEOs and other executives; they then turn around and approve buyback of its own stocks under misleading headlines of ‘confidence in the stock value’, but the real reason being indirect cash payments to the executives while misleading investor throughout.

What a joke !!!


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