The insider buying is a last ditch effort to assuage shareholders, plus it puts COVAD in various newsletters that highlight insider buying.
Even the guy from Kaufman brothers, what's his name?, who has been so wrong about COVAD seems to have finally come around, as have we all here, that we are always a day late and a dollar too expensive in what is offerred.
I do believe that what this company owns, its network and some level of goodwill, is worth something, perhaps as much as $2 or even $3 a share given the right deal making promotion. But, I have to agree with Jim, that the natural tendency is for management is to throw out the "next Q" or next year "hope, wing and prayer," so that they can continue to collect the nice paychecks and perks.
If there are large shareholders out there, I would imagine that they would have to be starting to put some real pressure on management to sell out now. This is prime time for consolidation in the industry. Don't wait for the WiMax dream, which per my prior post, will be more of the "same old," i.e., by the time it gets here, others will have it cheaper. |
