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20 October 2008
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Buybacks Have Lost Their Luster CNN/Money, 17 October 2008 The markets have tepidly responded to recent buyback plans announced by Microsoft, Nike, and HP. With confidence so low, investors do not believe repurchases carry the “signaling” weight they once did. |
Our view:For companies with a strong cash position, now may be the time to buy back shares at a good price. However, executives should not use buybacks to bolster share price but rather use them as a long-term value builder. |
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Does CSR Pay? Forbes, 16 October 2008 Corporate social responsibility (CSR) has little impact on financial performance, and most consumers are unaware of a firm's CSR policies. |
Our view:While this is a thoughtful and interesting point of view, we believe that companies turn to CSR for more than just PR reasons and can stand to reap substantial benefits from good social responsibility. In our work with senior managers and their teams from across all functional areas, we see much evidence of significant, strategically rational investment in sustainable development initiatives. To access CEB research, view forthcoming teleconferences, and join our moderated discussion group on sustainable development, please click here. |
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Online Direct-to-Consumer Retailing Still a Powerful Trend Financial Times, 19 October 2008 Procter & Gamble has developed its own online channel to sell direct to consumers and compete with its traditional retailer customer base. To manage such a sensitive issue, the site is operated by a third party, which owns the inventory. P&G competitors L'Oreal and Estee Lauder both already sell online and, the Financial Times reports Wal-Mart is hiring a strategy executive whose tasks include assessing the impact of direct-to-consumer sales by its own suppliers. |
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Act Preemptively to Address Morale Problems Forbes, 16 October 2008 Employee engagement, loyalty, and trust have plummeted in the past year due to the crisis. Executives should proactively tackle morale issues through better and more frequent communication, by allowing more flexibility around work/life issues, and by ensuring managers signal the loyalty and stability of the company. |
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Daily Capital Markets Review: Data Softens Tumultuous, Positive Week Corporate Executive Board, 17 October 2008 This summary includes news items regarding global liquidity, the TED spread, commercial paper and T-bill rates, currencies and commodities, and corporate debt spreads. If you would like to receive the Review after markets close (as opposed to the next morning), please click here. |
Also, we invite you to listen to the Capital Markets Week-in-Review Podcast, broadcast this past Friday afternoon.
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