Read the article: The repurchase revolution and answer the following questions.

1. In class, we have seen that stock repurchases are a good signaling that companies provide to the market, but the article thinks that in this case is otherwise, explain why.
2. The article mentions that some companies are being rewarded with higher stock prices without a need to pay a dividend or repurchase stock, just by reinvesting their profit back in their business, how can you explain this? (Hint: think about the type of companies (Amazon), cost of capital vs returns of a project, etc.)
3. In the article is mentioned that a corrupt manager can take advantage of a share-buyback, how this work? Create a simple example showing how this scheme can work.