I always wondered what Wal-Mart execs did with all that phat dough at the top: Over the past 10 years, according to data compiled from its public filings, Wal-Mart has spent more than $65.4 billion on stock buybacks—about 47 percent of its profits. That’s an average of more than $6.5 billion a year in stock buybacks, enough to give each of its 1.4 million U.S. workers a $4,670-a-year raise. It is also, coincidentally, an amount roughly equivalent to the estimated $6.2 billion Wal-Mart costs U.S. taxpayers every year in food stamps, Medicaid, subsidized housing and other public assistance to its many impoverished employees. pbs.org/newshour/making-sense/middle-class-cant-get-ahead/
Posted on: Sun, 07 Dec 2014 05:20:36 +0000
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