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William Lazonick: Big payouts to shareholders are holding back prosperity

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opednews.com Headlined to H3 8/27/12

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At www.guardian.co.uk


William Lazonick
(image by The Guardian)

This development, the financialisation of British business corporations, has them hot on the heels of their American counterparts. For the decade 2001-2010, 459 companies in the S&P 500 Index, almost all of which are US-based, expended $1.9 trillion, or 40% of net income, on dividends, and $2.7 tn, or 54% of net income, on share buybacks, leaving only 6% of profits to potentially be invested for the future. In the United States, I have called for a ban on share buybacks in particular and a major reform of corporate governance in general.

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At www.guardian.co.uk


 

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I wonder what percentages went to the corporate el... by Robert James on Wednesday, Aug 29, 2012 at 5:54:14 AM
I appreciate the distinction you have drawn among ... by Larry Butler on Wednesday, Aug 29, 2012 at 3:28:55 PM