It’s better not to enquire too closely into the cycle that creates and recreates drinking water, but Apple Computer Inc seems to have come up with a similar one with its shares: back in May executives sold large blocks of its shares either to cash in their share options or to raise the cash to buy more shares at the concessionary option scheme price, and on Friday Apple announced that it was buying back up to 5m of its shares in the open market principally used to offset the dilution caused by various employee stock ownership programmes; perfectly legal of course, but our friend Sharon reckons the whole thing smacks of share laundering.
