I think the two charts consisting of the coal spot and share...

I think the two charts consisting of the coal spot and share prices, covering from the being of the BB and up to a certain period shows clearly shows were the money went.

To me, it confirms the latter part of Buffet’s paragraph, “when a company over pays to repurchase, the continuing shareholders losses.”

One could argue that BOD acted, contrary to the interest to members as a whole or unfairly in a discriminative manner.

If u overlap these two charts it gives u a graphic image of the BOD usage of funds…buying when coal prices were high and mainly paying higher than need be, when coal prices were lower.

On top of that, we had the ambiguous constructed announcement which didn’t clearly state that gains only went to selling participants.

Not one poster explained to me, how do I get a greater return from the BB - I had to find it out for myself

Its a pity there isn’t a daily chart showing the coal price and the company’s share price with a line thru the chart showing the repurchasing price.
And with a lower indicator of the number of share bought back.

I guess companies would not support such a chart because it give us retail investors better monitor power on boards behaviour and their biasing to wards institutions and large investors.