Seeking Alpha ...Impac Mortgage: Poor Busimes Model, Misleading Acounting: Target $5.96. Article by Greenwich Research Group dtd May 22, 2015 2:06PM.
Why would you buy back shares instead of lowering debt thru retirement of debt? Generally you buy back shares to keep the stock price up if you are selling shares every month. Lowering debt will keep the company functioning for the long term which is best for most of the shareholders. Right now management is increasing debt without a plan to repay it. Bankruptcy would close the company and cancel shareholders equity. What will the salesman say when a loss is recorded this quarter? We bought back shares for "some of the shareholders".