Billionaire entrepreneur Mark Cuban informed CNBC on Wednesday that corporations that get federal help in response to the coronavirus disaster ought to be prevented from shopping for again inventory ever once more.
"No buybacks. Not now. Not a 12 months from now. Not 20 years from now. Not ever," Cuban mentioned on "Squawk Field." "As a result of successfully you are spending taxpayer cash to buyback inventory and to me that is simply the unsuitable means to try this."
He additionally mentioned, "No matter we do in a bail out ensure that each employee is compensated and handled equally in that the executives do not get rewarded further to stay round as a result of they bought nowhere else to go."
On Tuesday, Cuban first argued that any help have to be designed to cut back inequality between executives and employees. "If we're going to bailout corporations we'd like to ensure all workers profit from a turnaround, not simply execs," Cuban mentioned on Twitter.
Cuban, proprietor of the NBA's Dallas Mavericks, mentioned he thought any mechanisms of govt...
Supply cnbc.com