Some CEOs Spend On Investors, Not M&A, As Tax Hike Looms

Law360, New York (December 13, 2012, 7:19 PM EST) -- Jim Milton had the best problem the CEO of a midcap company can have: too much cash and nothing to do with it.

His company, Soundbite Communications Inc., a provider of cloud-based phone and text messaging software, was still digesting an acquisition it had closed in February and wasn't eager to buy again. The board had approved a $2.5 million stock buyback program, but with low volume — only about 15,000 Soundbite shares trade per day — it was slow going.

So Milton made a decision...
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