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Pentagon check writer doesn't like share buybacks

3:00 PM ET Thu, 15 Oct 2015

Defense companies are seeing fewer contracts, so they are using part of their profits to buy back shares and boost stock prices. However, Frank Kendall thinks some of those profits, which come from taxpayers, should be put into R&D. He is the Undersecretary for Acquisitions at the Pentagon, the man with the checkbook.