The accounting rule changes in this century (like those to Goodwill amortization and asset depreciation) favor INSIDERS, not INVESTORS … shell games have been legalized.
Have questions about stock buybacks? Ralph Nader explains what they are, and how stock buybacks end up damaging the economy. An important and interesting read, I present the entirety of Nader’s essay.
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Self-made billionaire (meaning he didn’t inherit it), Nick Hanauer is not one to mince words, especially when they are backed by facts and principles of fairness. The Seattle entrepreneur, author and venture capitalist (he was the first non-family investor in Amazon), is known for vocally championing Seattle’s staggered increase of its minimum wage to $15 an hour as good for workers and the economy. Any contrary corporatist to debate him on this subject would lose big.
Mr. Hanauer is speaking before business and political groups, including the Democratic senators at their recent Baltimore retreat, about a favorite cause of mine—the utterly damaging waste…
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