Nothing new, really, but there is a problem when they run out of things to loot so they just starting looting
themselves.
Bed Bath & Beyond on Sunday filed for Chapter 11 bankruptcy protection after it failed in several last-ditch efforts to raise enough money to keep the company alive.
How did this
happen?
Would you believe that Bed and Bath has spent more than $11.7 billion to buy back almost three quarters of its own stock? At an average cost about 15 times the stock’s current price? And that only a couple of months ago, when it was already in desperate financial shape, it kept buying back its shares? (For no rational reason, as far as I can tell.)
A billionish in... 2021.
