[Stu from NYC]

Originally Posted by Boomer

Good morning,


I have just read through all the responses here.


It looks to me like tvbound obviously has an inside track (chuckle) to the railroad industry. Thank you, tvbound, for sharing with us the details from your close friend who has had 50 years in the biz. (Mr. Boomer has been reading your detailed posts, too. He is always interested in the workings of the NTSB. He is a pilot so he reads about the NTSB. His license is private pilot, and it includes IFR and Seaplane and sign-offs in complex and high performance. . .I think I got that right. I just sit in the right seat. . .but, I digress.)

Anyway, I want to get back to connecting the dots......

Please take a look at the definition of connect-the-dots:

Dictionary
Definitions from Oxford Languages ·

connect-the-dots:

relating to or denoting a child's puzzle consisting of sequentially numbered dots which form a picture when connected with straight lines in the designated order.
"a connect-the-dots picture"

The picture I get when I connect the dots is a simple one......If Norfolk Southern can buy back 10 Billion Dollars worth of their own stock, they can darned well afford to take care of the people of East Palestine and make them whole again. That needs to happen and it should not be on the taxpayers' dime.

Whoops, the clock is telling me that I don't have time to finish this post now. I will be back later to have a conversation about buybacks, Buffett, and perhaps a certain post here that definitely jumped the track.

Bye for now.

Boomer

I certainly agree that Norfolk Southern owes the people of E Palestine enough to make them whole again. You do realize that whatever that amount is it will be a writeoff from their taxes so we will all share in that cost.

[Stu from NYC]

Originally Posted by tvbound

"Even more than the false claims, the racism in this post is appalling."


You are absolutely dead-on...regarding BOTH points.

Even the NTSB has stated that the train crew reacted exactly as they were supposed to under NS rules and were not to blame - in any way.

Crew tried to prevent East Palestine, Ohio train derailment: NTSB

"The sensor “transmitted a critical audible alarm message instructing the crew to slow and stop the train to inspect a hot axle,” which the crew immediately listened to, according to the report by the National Transportation Safety Board (NTSB).

As the crew worked to slow the vehicle, “the train engineer increased the dynamic brake application to further slow and stop the train,” NTSB investigators said."

You are also correct that the additional comment exposes the ugly underbelly, of the constantly denied racism in this country...by a certain demographic.

Simply disgusting.

How do you throw racism into the pot? Everything in this country is not race related.

[Stu from NYC]

Originally Posted by CoachKandSportsguy

cherry picking general knowledge financial article support, eh? Have you ever personally benefited from corporate buybacks? Have you ever participated in executing buyback plans? Have you ever seen what happens with the stock after corporate buy backs?

and, yes, I have when working at high levels in corporate america. . . both pricing out buying back stock levels for purchases, and receiving the stock and watching sr executives get those shares for personal gain. . and accounting friends of mine at places like GE relate abuse stories to me as well. . . personally getting dividends from contractual, but UNGRANTED shares. . . as well as seeing executives go to the pokey for illegal financial activities. . it will never stop with corporatism. . .

Here is a link to read about them from a former wall street money manager,

Stock Buybacks!™ and the Monetization of Stock-Based Compensation - Epsilon Theory

About common logic. . .
Sheep Logic - Epsilon Theory

after years of working on wall street, his view and mine, BITFD IFYKYK

so if your your finance experience comes from, watching CNBC, or listening to wealth management sales pitches, you are probably are just repeating common knowledge, which everyone believes and knows. . which in the financial world is sheep logic . .

Some day hope we can sit down and have an interesting discussion on finances.

In the meantime, when corporations do buybacks some interesting things happen with the cash one receives for their shares.

Pay capital gains tax on profits and than either spend the money on goods, or invest the money in new business providing jobs to the rest of us.

As do many of us own shares in mutual funds. The buybacks increase the value of the rest of the shares and fund prices go higher. Makes my IRA and millions of others of higher value. Yours too I would bet. Makes my taxes go up as I must increase my RMD most years. Is this a bad thing?

Is capitalism perfect? Of course not but you want to tell me about a better system?

[tvbound]

Originally Posted by Stu from NYC

How do you throw racism into the pot? Everything in this country is not race related.

"How do you throw racism into the pot? Everything in this country is not race related."



I (and Bill14564) were simply responding to the obvious racism in Post #20.

I suggest you go back and read Post #20 again.

[Stu from NYC]

Originally Posted by tvbound

"How do you throw racism into the pot? Everything in this country is not race related."



I (and Bill14564) were simply responding to the obvious racism in Post #20.

I suggest you go back and read Post #20 again.

To me he asked a question about qualifications. No more no less.

[Bill14564]

Originally Posted by Stu from NYC

To me he asked a question about qualifications. No more no less.

To me, the words he used were more revealing.

[CoachKandSportsguy]

Originally Posted by Stu from NYC

Some day hope we can sit down and have an interesting discussion on finances.

Is capitalism perfect? Of course not but you want to tell me about a better system?

Stu, you bet we will!

Its not about capitalism, its about the govt oversight of capitalism, and enforcing the rules of safety and fair trade. Clean and safe has costs, in both time and labor. There are lobbyists bought to influence the govt in favor of corporate desires. . . belief that corporations with record profits can't be held to higher standards of safety carrying higher levels of dangerous materials is corporatism. . all actions are taken to increase the stock price, the ends justify the means. . .

The government is slowly falling down on its regulation of competition and corporations which is generating inequality and resentment that the government is irrelevant. .

there have been many government decisions which at the time many officials thought great, and in the end, many small companies went bankrupt. . . its all about oversight and enforcement of laws and fairness.

[Robbb]

Originally Posted by Boomer

The 2017 tax law cuts were lauded and applauded by CEOs. corporation boards, and their lobbyists when that change in the law slashed the corporate tax rate.

It did not take long for corporations to decide to increase stock buybacks by using a mind-boggling amount from their new slush funds created by those tax cuts.

I have never liked stock buybacks -- even though I was seeing increases in share prices. I always thought stock buybacks running rampant were causing a bloated market.

I could never understand why those tax cuts did not come with some kind of parameters requiring corporations to use their new-found money for employees and capital improvements -- things to improve the overall economy. Of course, some of that money has been spent that way. BUT I guess nobody told corporate bosses not to use a huge percentage of those piles of money to line pockets by buying back their own stock.

Granted, I am a mere bumpkin, and could be accused of not understanding the wonders of stock buybacks. And, oh my, some might accuse me of being anti-capitalism -- which I absolutely am not. (I have not given up the market.)

I have been questioning stock buybacks for the past few years, but the recent train derailment that has ruined East Palestine, Ohio, sent me on a search to see what Norfolk Southern has been doing with their corporate tax cut money.

What you can read in the following link is an announcement from Norfolk Southern dated almost exactly one year ago. The announcement is for the stock buyback program that began on April 1, 2022 -- on the heels of their previous stock buyback program.

Here's the link to the year-old announcement straight from Norfolk Southern:


Norfolk Southern Announces New $10 Billion Stock Repurchase Program

And here is the first paragraph from the above link:

Norfolk Southern Corporation (NYSE: NSC) today announced that its Board of Directors has authorized a new program for the repurchase of up to $10 billion of its common stock beginning April 1, 2022. The company’s current program will be terminated on March 31, 2022.




10 Billion Dollars!



And, yet, there goes Norfolk Southern, waltzing around trying to buy real people's lives with a few mil thrown in the kitty.

This is about ethics. This is about right and wrong. This is about all of us.

Norfolk Southern must pay up, but never, ever be allowed to make the call as to when and whether East Palestine is safe -- unless that smarmy CEO moves there, with his family, to stay.

Furious Buckeye and Furious American Boomer

I totally agree with you...you are a bumpkin..An overheated wheel bearing is not caused by stock buybacks. Trains have accidents, we live in an imperfect world, get over it.

[tvbound]

Originally Posted by Stu from NYC

To me he asked a question about qualifications. No more no less.

"To me he asked a question about qualifications. No more no less."

I think you, along with most reasonable people, are smarter than that and knew exactly his intent - particularly given his posting history on the subject.

[Caymus]

Originally Posted by CoachKandSportsguy

cherry picking general knowledge financial article support, eh? Have you ever personally benefited from corporate buybacks? Have you ever participated in executing buyback plans? Have you ever seen what happens with the stock after corporate buy backs?

and, yes, I have when working at high levels in corporate america. . . both pricing out buying back stock levels for purchases, and receiving the stock and watching sr executives get those shares for personal gain. . and accounting friends of mine at places like GE relate abuse stories to me as well. . . personally getting dividends from contractual, but UNGRANTED shares. . . as well as seeing executives go to the pokey for illegal financial activities. . it will never stop with corporatism. . .

Here is a link to read about them from a former wall street money manager,

Stock Buybacks!™ and the Monetization of Stock-Based Compensation - Epsilon Theory

About common logic. . .
Sheep Logic - Epsilon Theory

after years of working on wall street, his view and mine, BITFD IFYKYK

so if your your finance experience comes from, watching CNBC, or listening to wealth management sales pitches, you are probably are just repeating common knowledge, which everyone believes and knows. . which in the financial world is sheep logic . .

Was that an insult?

[JMintzer]

Originally Posted by tvbound

"Even more than the false claims, the racism in this post is appalling."


You are absolutely dead-on...regarding BOTH points.

Even the NTSB has stated that the train crew reacted exactly as they were supposed to under NS rules and were not to blame - in any way.

Crew tried to prevent East Palestine, Ohio train derailment: NTSB

"The sensor “transmitted a critical audible alarm message instructing the crew to slow and stop the train to inspect a hot axle,” which the crew immediately listened to, according to the report by the National Transportation Safety Board (NTSB).

As the crew worked to slow the vehicle, “the train engineer increased the dynamic brake application to further slow and stop the train,” NTSB investigators said."

You are also correct that the additional comment exposes the ugly underbelly, of the constantly denied racism in this country...by a certain demographic.

Simply disgusting.

What "demographic" would that be?

I've found that many of the people constantly accusing others of racism are, in fact, the actual racists...

[Boomer]

Looks like my initial post has riled up some poster who thinks I think that stock buybacks cause trainwrecks.

Oh my….and that poster thinks I really am a bumpkin….hahaha.

I don’t know if I should keep laughing at how completely off literal types can be or if I should kindly offer instruction in reading comprehension or just ignore.

This thread has had some well thought out, big picture comments and a couple of real doozies, and one with obvious implications that came out of nowhere — other than the all too familiar reach.

Anyway, we’ll see where this mess in East Palestine goes. That loosening of railroad regulations that happened in 2019 certainly needs to be revisited.

Boomer

[Boomer]

Originally Posted by CoachKandSportsguy

Stu, you bet we will!

Its not about capitalism, its about the govt oversight of capitalism, and enforcing the rules of safety and fair trade. Clean and safe has costs, in both time and labor. There are lobbyists bought to influence the govt in favor of corporate desires. . . belief that corporations with record profits can't be held to higher standards of safety carrying higher levels of dangerous materials is corporatism. . all actions are taken to increase the stock price, the ends justify the means. . .

The government is slowly falling down on its regulation of competition and corporations which is generating inequality and resentment that the government is irrelevant. .

there have been many government decisions which at the time many officials thought great, and in the end, many small companies went bankrupt. . . its all about oversight and enforcement of laws and fairness.

Insightful. Sensible. Thank you.

Boomer

[CoachKandSportsguy]

Originally Posted by Caymus

Was that an insult?

All depends if you equate a google degree to an actual educational degree and actual experience in the field.

https://www.amazon.com/Death-Experti.../dp/0190469412

You will have to make that decision for yourself.

[tvbound]

Originally Posted by JMintzer

What "demographic" would that be?

I've found that many of the people constantly accusing others of racism are, in fact, the actual racists...

"I've found that many of the people constantly accusing others of racism are, in fact, the actual racists..."


I initially wasn't going to respond, but my ethics/integrity just won't let me pass...on such a ridiculous statement.

I've found that many of those who throw that phrase around, are simply trying to deflect from their own prejudice/bigotry/racism and making an excuse for not speaking out when it happens. Particularly those who purport to not even being able to see racism/injustice/prejudice, when normal/decent people can easily identify it when it occurs.

Which is the primary reason it continues in such a destructive/massive amount - and is institutionally baked-in.

Perfect examples are contained in the Netflix series..."The Innocence Files."

https://www.netflix.com/title/80214563

I challenge everyone to watch it - then try to continually deflect.

And this will be my last post in this thread, as I fully expect those who see themselves in what I've said and take umbrage...will come out of the woodwork in droves.

IOW, too much work answering each one of those types...so bye. lol