Has anyone else thought about the timing of the stock repurchase? Six months after the officers and directors purchased the stock (11-22-06) they announced a repurchase program. I think under the terms of sale of stock they could not sell for 6 months. As the market for the stock has been poor those officers and directors would have had to take a loss to get out so they came up with a program to get themselves out. The form 4's should be very interesting in June and July.
I'm not sure that I buy into your sinister plot, but I do think it's a blatant attempt to stabilize their stock price by giving investors reason to believe that they may repurchase shares when, IMO, they have no intent or capital to do so. Also, I see their token $.04 cash dividend with a .84% yield as another attempt to keep their stock from falling. Having said that, maybe they expect their asset growth to plateau or drop, in which case they would have excess capital for a stock repurchase.