Inco, after PMM bought GWR shares its price rose from approx $12...

Inco, after PMM bought GWR shares its price rose from approx $12 to $17 in a week or two. i'd say the shareholders of PMM were happier with a 40% increase in their value of holding rather than a 10% or less dividend. That argument that PMM shareholders should have been paid a dividend rather than purchasing GWR shares at $0.85 should be put to bed immediately. If PMM were able to increase the value of GWR by 40% (by takeover) we'd all be better than having 7 FAS shares with a value of $1.05, a 75% discount on current value