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Keep in mind that the company does not have to repurchase the additional 1 million shares. They are just making sure the paper work has been taken care of in advance so they can, should the opportunity arise.

If the company considers the stock pricey, the company is not required to repurchase it, in fact they should not if the intent is to work in the best interest of the owners. If and when the company considers the stock undervalued is the only time they should be purchasing shares; otherwise, just increase the dividend please, or better yet, I really do enjoy those extra large, one-time dividends.

Now, if the company is aware of some reason why the opportunity should arise soon and the general public is not aware of it, well then, we have a problem...actually two. The first being the situation (probably and hopefully short term) and second, a management integrity issue that would drive some owners (myself included) from the company. Of course, that is pure speculation with no merit and not something in which I personally believe.

The sudden drop at 1:00 EST does look highly suspicious. Does the fact that the drop coincided with the announcement mean anything? Probably, but I have no idea of what, and will have to wait until the quarterly report is released for greater unstanding...if any is to be gained.

tim (who is sitting on a double, barely, even after today)
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