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Microsoft is now just a financial innovator |
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The Redmond monolith's
debt-financed stock buyback is a sign that its biggest innovations are now financial rather
than technological, according to this thorough analysis.
It's hard to add much to it other than observe that Steve
Ballmer made a lot of noise to the contrary a year and a half ago but has little to show
for it (UPDATE), as my colleague Matt Quinn pointed out the other day and has just reminded me that he did (thanks, Mattman.)
Still, Microsoft CFO Chris Lidell insists the company is committed to making 20 deals a year and didn't in the past year only because there wasn't much out there that fit the bill. But if that's the case and remains so, then the company will find itself in the position outlined up top.
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