If management is not willing to step up its share repurchases in light of the move to 1990 stock level, then I see no hope for this stock. Too bad, because the dynamics of this company are still good enough to be a great long-term investment. Number 1 in marine sales, number 1 in bowling, Zebco, etc. etc. But why can't management show some confidence in their stock? Does anyone know how to let management know this is what the shareholders expect?
Let me explain myself. I still believe the company this management has put together can survive and thrive. Therefor, from the standpoint of market dynamics, management makes the grade.
But, and here is where the seeming contradiction comes in, the same management is showing no guts in its own plans. If what appears to be a great company has a stock selling at ten times earnings, why isn't managment out buying up every share they can flush out (both with their own money and our corporate money)?
Does this clarify my stance? I really do not consider myself a wishy washy investor. Hope this helps. Still want to see the buyback.
I agree that we have some serious management ass-covering going on here, while we are losing ours! I also agree, it's gonna be a LLLLLLLOOOONNG time before we see $20+. Sure the company needs to cover their ass so there will be a company, but I feel the worst is yet to come, as there is still yet another lawsuit hanging over our heads. Long-term? yeah, real long-term.