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Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (14932)	1/8/2009 5:08:28 PM
From: Smiling Bob	Respond to of 19257

SHLD has been borrowing short term to buy their own stock at much higher prices to beef up the EPS From 10q Increase in short-term borrowings, primarily 90 days or less 1,763 791 Short-term borrowings $ 11/2008 1,925 11/2007 $ 885 2/2007 $162 Diluted weighted average common shares outstanding 2008 125.5 2007 139.9 === I'm surprised a company is allowed to trade options in their own stock. Really opens up opportunity for abuse ---- NOTE 9 – SHAREHOLDERS’ EQUITY Share Repurchase Program During the 13- and 39- week periods ended November 1, 2008, we repurchased 1.4 million and 7.4 million of our common shares at a total cost of $81 million and $558 million, respectively, under our share repurchase program. Our repurchases for the 13- and 39- week periods ended November 1, 2008 were made at average prices of $58.43 and $75.43 per share, respectively. As of November 1, 2008, we had $125 million of remaining authorization under our common share repurchase program. Subsequent Event On December 1, 2008 our Board of Directors approved the repurchase of up to an additional $500 million of the Company’s common shares. This authorization is in addition to the $72 million worth of shares that remain available for repurchase under the Company’s existing repurchase program as of December 1, 2008. The share repurchase program, authorized by our Board of Directors, has no stated expiration date and share repurchases may be implemented using a variety of methods, which may include open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions, the purchase of call options, the sale of put options or otherwise, or by any combination of such methods.