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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (9397)	12/22/1999 8:18:00 PM
From: jeffbas	Read Replies (1) \| Respond to of 79003

Good point, Armin. Management owns about 360,000 shares outright (from the latest annual proxy). I suspect two significant reasons for lack of recent purchases are: 1. There have been a number of 13D's filed over the last year or so by folks who expect action to be taken to create shareholder value. As such management's jobs might be considered less secure than usual, which would certainly inhibit me from buying stock if I were one of them. 2. In connection with a different company also having an active buyback I was told that insiders could not buy while the buyback was going on, as they would be competing with the company. Assuming that this is correct, it would certainly apply here, where there is a massive buyback underway. This certainly is not a tech stock and this valuation does not come with a Walmart quality company. I am looking for 50% sometime within the next year, with limited downside risk. Long term, if the stock does nothing, cash flow (plus perhaps the sale of a few assets) would enable them to eventually really cut the shares outstanding a great, and put the per share values on a parabolic curve upward. Jim, care to add anything?