I agree with you in principle. However, if HXL had consciously wanted to engage in a "stealthy" buy-back of stock (so as to get the shares at bargain prices) -- why would they announce the buy back? They don't have to.
As to the company's apparent "policy of silence", there is a disconcerting lack of corporate communications know-how at the HXL. We are free to speculate all we want as to the wisdom of the Clark-Schwebel deal, for example, the stability of the industry or the significance of HXL's debt burden. But ask yourself, shouldn't HXL be trying to address our concerns? Like you, I'm a part owner of this company. Aren't we entitled?