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Dean Foods Company Message Board

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  • joenaper joenaper Oct 1, 1999 9:30 AM Flag

    SZA - Bargain stock

    Thank you for a very lucid analogy. This seems
    like pretty basic stuff. Why would mngmnt do that?

    When I was in graduate school (years ago at
    Northwestern)I had a finance professor that said that stock buy
    backs were the worst use of capital. He argued there
    was always a better application to increase
    shareholder value over the long term.

    In this case,
    using borrowed money in effect, seems just slight of
    hand to increase or maintain some level of EPS, which
    would not occur otherwise through internal growth to
    artifically support the stock price.

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