I'm reading it totally different, but I could be wrong too. I'm reading one of the other two buys A AND B shares, not just the A shares. Shepster is waiving the flag since he can't dump his shares any time soon with the volume that's available without driving the thing down to the floor.
could easily be 11 or lower. Depends if their current approved share buy back is buying any of the shares he'd be selling. Insurance companies don't normally trade at premiums to tangible book value.
Grammercy pfd is about to be brought current. I've been waiting a little over 3 years on this one. You might be able to pick that up down a little if it sells off after the ex date.