CBS part 2

Yesterday's Tom Taylor column speculated about what CBS would do with it's huge pile of profits. I speculated that not a dime would go to the employees. We were both correct...

"Yesterday’s lead story (“CBS is loaded with cash”) suggested that CEO Les Moonves would either declare a significant new dividend or announce a stock re-purchase program. He, CFO Joe Ianiello and boss Sumner Redstone went for the buyback, of up to $1.5 billion, beginning in January...Ad revenue was up double digits, and there’s ample free cash flow. Moonves opened the call saying “You can forgive me for being a little more bullish than usual…It's a good time to be a shareholder of CBS."

It's good to see that things haven't changed in the slightest since I stopped working there.