Thanks for responding to my previous post. Here is some detail you may want to consider. Diluted shares are expected to rise in 2003 even with the massive buyback program!
The following was extracted from the company's press release. Notice that CD is buying back shares, 19.5 million in 2Q alone, yet the diluted number of shares is expected to increase this year. I'm afraid management is bleeding the company. A big chunk of CD profits is going to buying back shares to offset the dilutive effect of management options.
Diluted weighted average shares outstanding (c 1,043 for 2002( 1,050 - 1,040 for 2003
(c) Diluted weighted average shares outstanding forecasted for 2003 reflect the full-year impact of the Trendwest and NRT acquisitions, which were completed in 2002 for stock, offset by anticipated common stock repurchases.