Buy Back, page-2

I think there are two competing scenarios for the buyback:

1. To reduce the number of outstanding shares at the best price possible.
2. To simply try to drive up the share price as much as possible by buying at higher prices.

It might actually be better for them to adopt approach number one and purchase as many shares as they can at a lower price. Ultimately, the reduced number of outstanding shares will increase the earnings per share and lower the P/E, which might even attract new investors. Given Wolgen and his conservative fiscal stewardship it would not surprise me if they would try to save money buy back as many shares as possible at the best price possible. It will save money and eventually produce the same effect.