Even though profits were lower, the big five companies continue to - TopicsExpress

Even though profits were lower, the big five companies continue to enrich their largest shareholders and senior executives by using a large share of profits to buy back their own stock. This past quarter, the combined buybacks of the companies (save ConocoPhillips) were nearly $10 billion, or 43 percent of the four companies’ total profits. In addition, these five companies are sitting on more than $71 billion in cash reserves.

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