This company is just a stock option machine for the benefit of the senior executives. They control the cash flow and instead of doing something strategic with the cash, they just buy their own stock back, keeping the price up and their $35 options well in the green. They've been doing this for years, and all you longs have been supporting it. Even the major funds in this stock have been taken for chumps. Meanwhile, they exported thousands of jobs overseas and showed other companies how to do it too. They directly hurt the country while enriching themselves by influencing the stock price through excessive buy backs, but no one cares. Certainly not the morons at the SEC, certainly not the equally greedy wall street firms, certainly not the politicians like Clinton and Shumer who did nothing to stop the flow of jobs overseas.
Hey, bonehead, just what strategic moves would you have them do with the cash? The only thing I can think of that they could do is increase the dividend more than they have, but the buybacks are doing their job as well. Without the buybacks, this stock right now might be selling at $75 as earnings/share would not have looked that great.
Just be happy this company is not in the dire straits of the financials or the rest of tech, even companies like GE. Complaining about the executive compensation is pretty small potatoes, although a more touchy subject in the current financial climate.
you are one of the few people that see this. I remember after the 9/11 attack, they did the same exact thing. It's amazing how many stupid people there are out there that support the price. But it's a Dow component and eventually this one will also be removed from the Dow when it trades at $2 some day.