BOD: “That would be nearly impossible to justify…but how about if you can get the stock back up over $50 — we will be able to claim you’re doing a good job.”
Scharf: “Okay! Our global consulting firm says we should spend $30 Billion on an aggressive stock buyback scheme to manipulate the stock higher. How long does the stock need to sustain that $50 price?”
BOD: “Just make sure it’s up there for at least a few days around the date when we announce your raise.”