I have 2 questions . 1. Why would the CEO buy 10000 shares a few days before he knew the div. would be cut.He could have bought it much cheaper later on.. 2. How come the Form 4 shows he bought the sharesw for 5.5 on 11/18/2008.The price on that date never reached 5.5.
I find it greatly amusing that IGR management stated that this 60% cut looks good compared to Gov. Bond Yields. So that's how they now play the game. When IGR hits one buck---they should really look good. As far as you guys backing up the truck---I agree it is a great entry point---but what about us poor slobs who believed in ING- with it's excersizing show boat of a CEO. When IGR first came out I loaded the trucl with the opening price of $15.00 a share. I refuse to do the math on that loss. Now maybe I would back up the truck---except for the fact these potlickers running the show keep saying spooky stuff. Like in the Annual report: "The board will meet, and we may have to discontinue the dividend---but shareholders should remember they made good money on the year end pay-outs". It must give us pause----if they discontinue the divedend---Why would anyone buy their REIT???? Do they ponder that pearl over cocktails??? It might be a trifle early to back up the truck. First we want to see if they will even survive.