The podcast "Who Is?" has just released an episode focusing on Paul Singer, the billionaire hedge fund CEO behind Elliott Management's predatory campaign to destroy AT&T. The podcast explores how Singer's tactics, which include cutting jobs and sending work to low-wage contractors, divesting assets, and extracting cash for shareholders through stock buybacks, illustrate what has gone wrong in the American economy over the past 40 years.
"Elliott says it could nearly double AT&T's stock price in the space of less than two years. How is it going to do that? $30 billion in stock buybacks. That's a massive extraction of cash that could be invested in productive uses and in good jobs," said Nell Geiser, CWA's Director of Research on the podcast.