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Joined 1 year ago
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Cake day: July 28th, 2023

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  • Buybacks were illegal throughout most of the 20th century because they were considered a form of stock market manipulation. But in 1982, the Securities and Exchange Commission passed rule 10b-18, which created a legal process for buybacks and opened the floodgates for companies to start repurchasing their stock en masse.

    The SEC’s decision to make this shift came against the backdrop of President Ronald Reagan’s era of deregulation and coincided with the rise of ‘free market’ economists preaching a new type of social responsibility for business: increasing profits.

    So, uh, yeah, it’s more of that sweet #1 bullshit from Reagan. It’s true the loss of experienced people hurt the company, there have been numerous reports on that aspect. That doesn’t have anything to do with cheating on quality inspections.














  • As someone who worked a few jobs over several decades, I was like you. I just wanted to work and not socialize. I just don’t really give a shit about people. The reward for doing more work was usually just getting more work added on. Over the decades I’ve watched the glad-handers and incompetents rise in both private business and gov’t. I sometimes wish I was more of an extrovert, it would have made a lot of this “life” bullshit easier, but I just couldn’t do it.