I don't understand your point, the company is buying back the maximum shares allowable under SEC rules, you can do the volume calculation yourself and see that they are buying back near what they are allowed to and can be expected to do given SEC constraints and the low daily volume in the stock. They have a $10 million buyback and have already bought back more than 2 million shares over the last quarter and a half, and will report around 4 million shares bought back at the end of Q4 most likely.
They can legally buy back 50k a day, but they are not. I do think that XIN should be buying land to continue the business, but I also think that they should be more aggresive buying shares back. They have $500 million in the bank. If they are getting 2% interest on that money, that is their $10 million that they have to buy back shares, so they could increase that.
Send Tom an e-mail and voice your opinion. Hopefully in a nice way :o)