Stock buybacks are lethal, literally

And they’re widening inequality. Here’s what to do about them

Friends,

Shares of Apple lost 10 percent of their value in the first four months of the year. This may explain why Apple announced on Thursday that its board authorized $110 billion in stock buybacks, the largest buyback in U.S. history. It may also explain why, on Saturday, Warren Buffett — the “Oracle of Omaha” — announced that his company, Berkshire-H…