VIDEO: Ralph Nader Slams Apple Stock Buyback on CNBC

Consumer advocate and four-time presidential candidate Ralph Nader appeared on CNBC’s Squawk Alley yesterday to lobby against a decision by Apple to repurchase shares of their own stock.

Nader says that conditions are horrible for workers at Apple’s Chinese factories, and charges that the company’s move to buyback shares benefits only Apple’s top executives.

In his appearance, Nader makes the case that the available cash would be better spent by improving worker conditions or providing shareholders with a direct cash dividend. He also notes it could be used to reduce the price of their products, like the new iPhone 6, for general consumers.