PPRuNe Forums - View Single Post - Cathay to buy back 10% of company stock
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Old 25th Apr 2009, 01:42
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Old China Driver
 
Join Date: Jul 2000
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Gentlemen,

I seldom am outraged by this company anymore, as I have been witness to so many such events. This news however deserves far more publicity. It is unconscionable that at the same time they are asking their staff for cuts in basic pay, they are using hundreds of millions to repurchase shares. A friend of mine is the Managing Director of another large HK company, and he told me that this has left him speechless. Regardless of all the issues inherent in the latest proposal from the company, the timing of this repurchase plan can only be considered a deliberate humiliation. To give the company any type of victory in this debacle will only lead to yet more erosion of your careers. As someone who has been here a long time, I can assure you that the only hope you have to protect the value of your career is to stand up to this appalling attack. Vote NO.

OCD
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