Overview
Law360 quoted George Callas in a February 14 article titled "Plans To Restrict Stock Buybacks Ignore Core Wage Problems." The article discusses how about 45 companies had authorized $250 billion for share buyback programs less than four months after the passage of the Tax Cuts and Jobs Act of December 2017. According to the article, this caused a furor among Democrats, who lambasted Republicans for enacting a bill that largely favored wealthy shareholders and corporate executives over employees.
Callas says, "I don't think share buybacks are inherently good or inherently bad any more than paying out a dividend or issuing bonds or borrowing money is somehow inherently good or inherently bad."
The full article can be read at Law360 (subscription required).