just management trying to pull wool over the investors eyes. The stock repurchased would be given to executives as bonuses and in the end not reduce the number of shares at all. If management was serious they would have declared a special devy to the stock holders. It is really difficult to find any company with a successful dividend buy back that helped the investors. Most of the time it is just smoke and mirrors when all the dust settles. As for me they could have capital spending creating jobs in the US but even if they had capital spending it would be in China where all but manditory safety spending has been committed for years now.