"Buybacks aren't always what they seem. A company might throw confetti for its share repurchase plan with one hand while issuing shares with the other."
"At the same time, investors need to be careful to avoid mistaking earnings-per-share growth from buybacks for actual earnings growth."
Self-Serve in the Boardroom
AHEAD OF THE TAPE
The Wall Street Journal Online, November 28, 2006 http://online.wsj.com/article/SB116466998414033857.html?mod=mkts_main_featured_stories_hs