| It is true that I have no idea who I was talking to. (And he didn't know who I was either. Could've been a custodian thinking he was talking to a colleague.) Somebody answered the phone, answered my initial question, and then responded to my quickie buyback query. I didn't press for greater detail because I considered the matter not that significant for reasons I already mentioned. Anyway, here's a quote from Kemet's buyback announcement, which, to me at least, makes clear that authorization is not a commitment: "The amount and timing of repurchases will depend on market conditions and other factors." For most companies announcing potential buybacks "other factors" includes deciding they don't want to do it after all. And that, I think, shouldn't damage credibility because they're covering themselves. Henceforward, though, I will remain mum about any matter relating to buybacks. Tempest in a teapot. Happy Labor Day. |
