this post was submitted on 16 Jun 2024
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Electric Vehicles

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GM had $6 billion to spend on next-gen EVs, chose stock buybacks | opinion (electrek.co)
submitted 4 months ago by threelonmusketeers@sh.itjust.works to c/evs@lemmy.world
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Someone ought to make a clown applying makeup on how GM is handling the transition to EVs...

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[โ€“] RunawayFixer@lemmy.world 18 points 4 months ago

I'm tacking on this opinion article from 2020 with a few good examples/explanations of how bad stock buybacks are in the long term.

https://www.forbes.com/sites/petergeorgescu/2020/05/13/stock-buybacks-are-banned-let-it-be-a-trend/

Boeing and general electric are of course mentioned. The line goes up, until it doesn't. The key to being a successful CEO, seems to be, to be the one making the line go up and then gtfo before it comes crashing down.