February 7, 2022
Share buyback opportunities favor short-term stock price rises over long-term investment in the company's infrastructure. The rewards of these actions disproportionately benefit shareholders and executives with stock option incentives over employees earning a wage. I have seen many examples including the grocery chain I am currently employed at that invest the lions share of profits into stock buybacks over wage increases. This is not only unfair to all the employees creating wealth for the company but also are not in the company's long-term best interest. The problem has been exacerbated with quantitative easing by the Federal Reserve meant to stimulate the economy. The money is used to create short-term profits and as always the money never trickles down to the working class. I am in favor of this rule and further rules that put restrictions on stock buybacks that unevenly distribute wealth.