Given as volatile as we are, a buyback actually feels like a very efficient way, especially if it’s
implemented in a opportunistic fashion. Since 2008, we’ve taken more than a third of the shares of
the company off the table. I think when I got the job, we had 90-some-odd million shares
outstanding. So that’s been pretty good progress and has been done to great effect, I think.
So we announced another one in November, authorized another $200 million. We executed about
$47 million or $48 million of that last quarter
If there is really negative news, a buyback would not help. coz all funds and investors will sell their stock and bring it down to its true perceived value based on the new development...then there may be a new lawsuit of cirrus buying back at 24 when they could have bought back at 15...