Let’s hope Apple CEO Tim Cook knows what he’s doing if he follows activist investor Carl Icahn’s proposal to increase the company’s share buyback program. The New York Times’ Floyd Norris makes a very compelling argument that BlackBerry’s massive stock buyback program circa 2008-2009 left it at a huge disadvantage when it came to keeping up with its competitors in the mobile world. In particular, Norris says that BlackBerry’s share buyback program gave executives big incentives to focus on short-term gains and rather than look ahead to long-term challenges. What’s more, going through with share buybacks in lieu of issuing dividends had the perverse effect of punishing long-term loyal shareholders while rewarding speculators. “BlackBerry’s financial strategy was not particularly unusual,

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