BlackRock's Fink Wants CEOs to Say How They'll Use Tax Cash
- Fink calls on CEOs to explain strategies for long-term growth
- BlackRock said it may use tax break for share buybacks
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BlackRock Inc.’s Chief Executive Officer Larry Fink is asking leaders of the world’s biggest companies to say how they’ll spend extra cash from the U.S. tax overhaul.
"What will you do with increased after-tax cash flow, and how will you use it to create long-term value?," Fink said in his annual letter to CEOs, posted on the firm’s website Tuesday. Companies have a responsibility to explain to shareholders how "major legislative and regulatory changes" will impact their longterm growth strategies, Fink said.