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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (57763)	7/15/2006 8:31:46 AM
From: Think4Yourself	Read Replies (1) \| Respond to of 306849

re: "Aren't they in effect borrowing money to buy stock?" The money left in their buyback program does exceed their cash on hand. I do not know how they are funding their buyback program. Their debt is about a half billion dollars, which doesn't seem out of line with other builders. Buying back stock while insiders are selling seems to be a common theme among the homebuilders. I don't think JOE is unusual in this respect. I agree it seems unethical but seriously doubt any action will be taken against any of them.