There are a few things people should know before buying this stock..lol
First the company has about 40 million cash in the bank.
They have been buying back common shares since 2006....
Issuer Purchases of Equity Securities
Pursuant to a stock repurchase plan authorized by the Board of Directors on November 1, 2006, we repurchased a total of 13.0 million shares of Class A common stock for $100 million, the maximum amount authorized by the Board of Directors under this plan.
On April 7, 2008, the Board of Directors approved the repurchase of an additional $100 million of our Class A common stock from time to time in open market transactions at prevailing market prices, block trades and private repurchases. We have financed stock repurchases with available cash on hand and cash provided by operations
Under this new plan, we purchased 7.4 million shares of Class A common stock for approximately $19.8 million during the year ended December 31, 2008.
We purchased a total of 20.4 million shares of Class A common stock for approximately $119.8 million under both plans from inception though December 31, 2008.
Another thing people are not aware of is that Google states there are 85 million shares outstanding..but and this is a big but...that includes Class A, Class B and Class U shares in total.
ONLY CLASS A SHARES ARE BEING TRADED ON THE OPEN MARKET
Class A shares are Market shares and there are only 45,920,848 shares Outstanding.
It is the Class A shares that are being repurchased.....This is from last reported Quarter....
October 1, 2008 to October 31, 2008 they bought back 933,290 shares @ $2.01
November 1, 2008 to November 31, 2008 they bought back 901,902 shares @ $1.18
December 1, 2008 to December 31, 2008 they bought back 1,417,023 shares @ $0.87
Ha...the Outstanding is going down month by month.
Stick that in yer craw and chew on it...LOL
