told CNBC on Wednesday that companies that get federal assistance in response to the coronavirus crisis should be prevented from buying back stock ever again.Squawk Box
He also said, "Whatever we do in a bail out make sure that every worker is compensated and treated equally — in that the executives don't get rewarded extra to stick around because they got nowhere else to go"between executives and workers. "If we are going to bailout companies we need to make sure all employees benefit from a turnaround, not just execs," Cuban said on Twitter.
Cuban's appearance Wednesday comes one week after the NBA indefinitely suspended its season after a Utah Jazz player tested positive for COVID-19.
Mark Cuban should also tell all his companies to stop outsourcing!!! He is one of the problems!
That's cause he's short
Agreed. 💯
A voice of reason from someone who gets it for the tax paying Americans, thank you Mark
Cuban is an asshole.
Like saying bank robbers should not be allowed to rape the teller on the way out cuz it ain't right. Where's your brain?
You are sooo right!!!! I applaud you!!!!
Buy backs were illegal until Reagan changed the law.
Socialism always has to clean up after Capitalism.
It’d give them a lot more money to work with. But why stop there. Don’t give hefty bonuses to the CEO’s and mgmt. that’d give them even more
Never say never
How can someone buy back anything with others ppl bailout tax money without paying them back? It's like trying to make out of fool to Tax payers!
Thank you!!
Even trillions will not pump up the market much longer—Its not government money, it’s our life’s work tax$ and your children’s children’s BK
Who else in history said you can “own” it, but I will tell you how to use it. Some called him a fascist.
Bingo, this artificial deadline is ridiculous. Keep up the feedback Mark.
Agreed 💯
I am sorry to say this but Mark sold a billion dollar failing business to yahoo and got away with it. He is my hero. getit
They will just change their name by getting bought out by another company for 1.00 and then it is off to the races all over again.
True
They still should be charged for selling them because they had inside information markcubanreal
😕
..... Quack quack quack quack quack. What about all the past bailouts. Is there a limit on how many times u get bailed out..... we chose cars last time.
There just shouldn’t be bailed out companies
Too bad that won’t happen
mcuban please run for president in 2024
💯
He and the Corp gangster are scared the results of the progressive movement after the economy meltdown
A very simple answer is that any bailouts should be rewarded with a stock equity position in the companies. When things turn around, and stocks rise, then the owners (ie taxpayers) get paid back and earn profits. This is exactly how takeovers work.
You're a righteous man Mark. A true Prince!
Share buybacks should just not be allowed unless the stock is below book value -- this should never happen for a well regarded company. Any company below book value nowadays generally has major issues, or is going to be bought out.
Even better, the workers should own their company and hire management.
Mark basically saying “You pathetic broke boys need help.. Disgusting.”
Fuck bail out, they should be bought out, nationalized, and workers unionized
While I agree that any company that receives tax payer assistance, should be restricted to using that money for it's employees benefit only, being lectured about equity by a billionaire employer is an easily dismissable lecture.
This guy is the truth Agreed
How about instead of bailing out companies we buy them and also never let any company so stock buy backs again.
Stock buy backs should be illegal for ALL companies.
Frass2u He’s right.
dude just run for president ... legit would win
janeeucraft Preach that
So true!
saikatc I don't understand why that. Why no buy backs? If companies can't use their capital to buy back their stock then they will use the capital for growth or they will return it to the investors as a dividend. Who thinks not allowing buybacks is going to profit the employees?
No bailouts! They should be nationalized.
Or the government buys the stock and gives it to the employees.
Jazzy27K
all companies, forever, going forward should no longer either
etor2756 🎯🎯🎯🎯🎯🎯🎯🎯🎯🎯🎯👍
TheSteve0 Mark Cuban does not understand the economics of efficient markets. The proceeds from a stock buy back get reinvested back into the market when the investor buys another investment. The money eventually finds its way to a company that can use it.
Agreed
Why I wish Cuban had bought the Rangers. fucktrump
Yup
saikatc Right side of history.
no companies should be able to buy back stocks* fixed it for you
rolandsmartin Mark Cuban is 100% correct! Democrats feel the same.
How about all companies
I agree with Mr. Cuban.
I respect this man more everyday
😳
Can someone explain to me why the Airlines are at the top of the money tree? Can’t they park the planes and use their stock dividends to help pay the workers. ?
Loans only no bail outs
MuellerSheWrote Or maybe just don’t bail them out?
Fool me once(2008)...shame on you....fool me twice...
Says man who sold worthless company for 100x sales
Seriously. How many times will the airlines get away with that plan?
DrDonnaDemocrat Agree 100%
I agree
Probably a very good point .
its_lindz Or be allowed to lay off employees for at least one year. Also, any company that lays off shouldn't qualify for a bail out.
markcuban for president
HNinCharge
He’s right
Seems legit
Run for office!
Agreed. They should be allowed to purchase shares of other companies helping boost to overall economy and spur investment.
Get Ackerman off of the air ...
MuellerSheWrote Offer failing companies two options Bankruptcy or nationalization BuyoutsNotBailouts The default position for a failed company or corporation should be their assets, liabilities, and customers belong to the state. If this has a chilling effect on startups, good.
MuellerSheWrote Bailouts should come with Company Shares or Part Ownership. Nothing given without a Cost. Buy-ins, maybe. Bailouts, Nada!
c4chaos Common sense
MuellerSheWrote No more corporate handouts.
MuellerSheWrote Could the government buy parts of these companies as a stimulus?
SenWarren THIS.
Exactly
MuellerSheWrote Airlines Want A $58 Billion Bailout After Spending $45 Billion On Stock Buybacks
No, having the company's assets seized and the CEO's thrown in prison for the rest of their lives would be a better option.
CostaKapo And that will never happen
RealNickAldis Coming from a billionaire who will more than likely buy up the stocks cheap and get richer !
And no bonuses for executives with bailout money this time!
i agree, same with tax cuts
Question. People call loans “bail outs”. So, are students “bailed out” by using a student loan. And, if they are “bailed out” by way of using a loan, they should be punished, too, for the rest of their life.
This is something a stupid dems would like because they have no understanding of business.
Why do we let this super computer buy and sell ever day taking profits and rebuy sec later greed
I get the argument but a cash makes Corps prone to leveraged takeovers ... how do you fix that?
I agree!
JVSylvester Agreed! And no CEO bonuses
realDonaldTrump
No buy back
He’s right zero reason an exec walks with a multi-million dollar bonus off of bailout money.
Well said Mark
Ignorance in full display. These companies employ millions and are asked to make payroll with no income....
Or give bonuses for a cupla years or raise mgmt salaries or pay dividends
mcuban I never thought buybacks were a good idea in the first place.
We need a new regulatory regime for any company large enough to be considered a public good. Regulations for liquidity similar to banks. Notice nobody is talking about the banks needing help? They're forced to be resilient.
mcuban What we learned from the big recession is counterparty risk freezing credit markets needs to be dealt with thru government loans. Once those loans are paid off then business as usual included buybacks.
Pass a tax bill to clawback the self-enriching buy-backs from management for the last ten years
More water in his face. Please.
I want to comb his hair to look like mine
Facts
How about Dollar For Dollar Reserves Like Annuity Insurance Companies have to do. You never hear a peep about Retirees losing their money because of that Guarantee fund. Stay Solvent.
You will sooner find an atheist in a foxhole than a capitalist during a pandemic.
mcuban He gets it!
Bailing out these MF while Ceo and executives getting fat bonuses. Fck them!
Good for Mark to speak up!!! The moron ceos who run companies to the ground walk away with millions!.. then expect bailouts!! Those bastards should be in jail!!
True
So the government can order a business to shut down, bankrupt it, and not compensate the shareholders? Cuban should never be allowed to be quoted ever again. He's always annoyingly arrogant and smug anyway
No any company that gets bail out by public funds becomes nationalize company. The dividends will be cut and give to the American people
WoodTiger0219 Duhhhh....
At least put a 20% cap on it
100% Agree and that’s just a start of the conditions of any CompanyBailout
Keith__1983 Agreed!!!!!!
Whole heartedly agree.
Maybe all buy backs should be based on reserve basis. Two to one or one to two ratio.
Why it was outlawed in the first place before it was lifted.
Very impressive Mark.
Agreed
We could then derive their predictions
They should have to issue convertible bonds to the US Treasury for any bailout. The Tax Payers must benefit from a bailout.
%100 right
This guy is one of the only few true entrepreneurs left!
Nailed it.
NoCorporateBailouts
I concur 100%!
Someone tell me why he’s wrong.
If airlines are bailed out tickets prices should be reduced, bag fees eliminated, WiFi and drinks should be free for everyone.
True
Ban buy backs all together. It’s an artificial way of boosting value in a system that talks a good one about a free market.
They should be first forced to sell stock on the open market to see how that goes before any bailout.
Mark w/ the cold truth!
Why you bailing out millionaire and billionaires at all with money YOU DON’T HAVE!!!
It's good that he said it... now he needs to do something about it, most of us done have the resources to make an impact like he could.
Agreed
'Ever again...' might not be tenable but certainly not until that bailout is paid back somehow. And NO merging out of this. This bailout obligation must follow the entity to its parent. Real accountability and truly equal opportunity CosplayCapitalism breeds CosplaySocialism
infact they should see their buyback stock they did in last 5 years ,and geberate cash.
Couldn't agree more 👍
chrismartenson
I think that is what NorthmanTrader also wrote about ...
Several of these companies that are buying back diluted their stocks to create money to get through the last big downturn and it would only be fair that they be allowed to buy back their shares issued during that time.
He has no idea what he is talking about. Hes a tech geek who got lucky with internet, no understanding of economy.