Dan and his evil cronies fired you to buy back $1b worth of shares. Just evil
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@fp maybe because Vz is like a US based company?
@et Definitely not true for International but that might be hard to grasp from the US centric point of view
@et simply not true. Former Band 5 here. There's no such requirement at Band 5 -- and I am reasonable sure not at Band 4, either.
@ef I hate to break it to you but from Band 5 up, employees are required to hold a certain amount of company stock based on their level.
Scenario: you are CEO (person 1) and you have ordered big layoffs and a buy back
1) person1 buys stock prior to public release of this knowledge, waits for the stock to rise, then sells everything at a profit
1a) that is insider trading. A criminal offence. Also, person1 would be betting against his own company while manipulating that company for his own benefit (evil)
2) person1 buys stock, holds it ,invests in the company. (S)he believes the changes (s)he believes the changes will work over the long term and they are making a good investment
2a) that is insider trading. A criminal offence. Also, person1 would be betting for his own company while manipulating that company for his own benefit (evil)
Follow the money
@e2 my friend, you are not living in liberal capitalism anymore. The US shifted toward a broligarchy (a nice way to put it) or technofascism.
@ay Yep, business su-ks sometimes, but it's just business. No one owes anyone a living, is the seemingly cold, cruel truth.
- The inherent vice of capitalism is the unequal sharing of blessings. The inherent virtue of socialism is the equal sharing of miseries." -Winston Churchill, House of Commons, 22 October 1945
@av thank you for noticing. That is correct. It was my attempt to highlight the hypocrisy of celebrating results and promotions on the backs of thousands of lives ruined. What a sad society we have become.
@a2 I read this as an irony, sadly realizing how many readers around here aren't capable of recognising it
@ag that makes him corrupt by enabling artificially inflated share prices, which would trigger short-term gains, getting bonuses, etc. but akin to market manipulation and insider trading (par for the course in recent times). The money for those buybacks often times comes from layoffs.
@aj Reagan didn’t “legalize” buybacks outright — but his SEC made them safe, routine, and effectively unrestricted.
Rule 10b‑18 turned buybacks from a legally risky, rarely used tactic into a central pillar of U.S. corporate finance.
Prior to the Reagan-era SEC rule, routine open‑market repurchases were viewed as potential stock‑price manipulation under Section 9(a)(2) and Rule 10b‑5 of the Securities Exchange Act.
Companies could buy back shares, but doing so risked lawsuits or SEC enforcement because the act of bidding for your own stock could be interpreted as artificially supporting the price.
@a9 False. Stock buybacks were legal prior to Reagan's first term. Easily confirmed with a little research.
That makes him smart.
There's a reason why buybacks were illegal in the US until, you guessed it, St. Ronnie allowed them again, with minimal oversight.
In the rest of the industrialized world they're tightly regulated to avoid insider trading and market manipulation.
We don’t need that negative energy here. It’s called capitalism. Corporations must do what’s right for the business, our communities, and the customers we serve. I am celebrating Verizon’s 2Q results, the timely promotions some have announced with glee and self admiration on LinkedIn, and hundreds of open jobs on the Verizon site.
YOU BETCHA