Here’s a good example of how the bailouts lined exec’s pockets from a year ago

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      Mr. Mickeys Mom
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      Read more here – The Real Black Box: American Airlines Share Buybacks Are a Scam to Enrich Execs

      By Mitchell Feierstein
      Mitchell Feierstein is the CEO of Glacier Environmental Fund and author of ‘Planet Ponzi: How the World Got into This Mess, What Happens Next, and How to Protect Yourself.’ He spends his time between London and Manhattan. Join Mitch on Twitter, Instagram, and Facebook

      The real black box: American Airlines share buybacks are a scam to enrich execs – and the Covid-19 bailouts will fuel more of them

      To anyone doubting the Covid-19 bailouts will line executives’ pockets, American Airlines CEO Doug Parker says he’ll “find a way around” the rules against it. This after making $150 million while AAL’s stock plummeted 70%.

      Stock buybacks are the ultimate vehicle of self-enrichment. Consider the following as a ‘case study’ of Wall Street’s legal fraud. Under CEO Doug Parker’s leadership from 2013-2020, American Airlines (AAL) has seen its stock plummet 70%. When one looks at Parker’s pay awarded vs the company’s three-year average economic profits, his pay-for-performance metrics are abominable. The media worships Parker for his stewardship of AAL during this crisis and reports that, for the past three years, Parker’s salary and bonus were zero.

      However, they fail to mention that AAL’s legal Ponzi stock-buyback scheme saw Parker’s 2016-2018 take-home pay rocket to $70.2 million. (According to the Financial Times, Parker’s total award from selling stock since 2013 is $150 million). It’s not bad for Parker, but it’s horrendous for AAL employees, shareholders and American taxpayers who will be stuffed with a $20 billion bailout. Fair? Not on your life.

      Debt-fuelled stock buybacks and dividend payments are engineered to artificially increase stock prices so that self-interested CEOs like Parker can “earn” higher compensation. Increasing debt creates an illusion of better earnings. However, buybacks cannibalize corporate balance sheets, leaving taxpayers exposed to unlimited “bailouts” when these leveraged bets go wrong.

      Hell, no... I'm not giving up...

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