The Cannibalized Company:
Part 2: Most major U.S. companies tie part of executive pay to earnings per share and other metrics to align the interests of management and shareholders. The trouble is, these numbers can be – and often are – influenced by buybacks and other maneuvers that have little to do with operating performance.
Special Report: As stock buybacks reach historic levels, signs that corporate America is undermining itself
COMPLEX LEGACY: During her tenure as Hewlett-Packard CEO, Carly Fiorina, now seeking the Republican presidential nomination, spent $14 billion on buybacks and nearly doubled the company’s registered patents, but had no big, innovative successes. REUTERS/Brian C. Frank