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Tuesday Morning Corporation Message Board

  • longtimefollower longtimefollower Jan 28, 2009 11:23 AM Flag

    Board of Directors MUST buy back stock.

     

    There is just no excuse for them to not be in here, "affirming" the value of their franchise. Otherwise, the "crisis of confidence" the marketplace has in TUES is just validated. The company is PROJECTING $7 million in excess cash flow this year (from breaking even on operations, and having an excess of $7 million in D&A above cap. ex.). What they SHOULD do is announce a $10 million stock buyback program, and then GET OUT THERE and buy blocks, as they are offered, etc. With book value per share at like $5+, the company's BEST investment right now is not to open new stores, or pay a dividend, it is to BUY BACK STOCK, and increase the value for those loyal shareholders who remain here. With the balance sheet as strong as it is, it seems about as close to a no-brainer as there is. I mean, it's not like we're talking about levering up with $50-75 million worth of debt. We are talking maybe spending $10 million, and picking up as much as they can get their hands on, at, say, upwards of $2.50 a share. With 41 million shares out, I'd like to see them pick up, say 4-5 million shares, and reduce the outstanding share base by 10%. Just for STARTERS. Come on, board. WAKE UP and don't be so anally retentive. DO SOMETHING for the shareholders. Do you job, and help ADD LONG TERM VALUE here. The balance sheet can certainly handle $10 million, with $225 million or so in equity on it. Let's GO!

    This topic is deleted.
 
TUES
19.21-0.20(-1.03%)Sep 19 4:00 PMEDT

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