CIB Marine Bancshares Inc. (CIBH)

[XM ROCKS]

Someone is absorbing the shares being sold at 1.60. I wonder who outbid the bank for the preferred shares? Someone knows the true value of the bank. It sucks because we are trying to buy them back at a good value to retire them. Now who knows what will be able to be bought back, and at what price. I wonder how easy it would be to extend the number of years that the Dutch auction can be offered. It would allow the bank to continue to reduce the number of preferred shares, and at a price that can keep everyone happy. There isn’t really a market for the preferred shares, so why not convert them all to a common share and let the market decide what they are worth. I like the way things were going. Buy them at a discount, take them off the books. I don’t want dilution of the shares to accomplish this. Preferred has no real market, commons do. Preferred shares don’t vote, commons do. They are basically allowing the bank to use their capital at 0 percent interest. You would think they would unwind them at a reasonable price.......