You guys need to chill. The one thing I hate is when the boards become a launching pad for insults and fighting. This is the deal....
The company isn't buying back shares to reduce the o/s and make the share price increase for US. They are buying shares to give to employees in incentive packages and probably to key executives that want a share of the new larger company as part of the deal.
They obviously don't think the small increase in o/s is going to impact the share price long term, ie after the acq's. And it probably won't, when the announce, the pps will rise in spite of a few million extra shares.
Anybody ever bought a house? You know you have to have all your debts paid up and all your i's dottend and t's crossed. I'm sure this is no different. To ensure the success of the new company it may be required by either the banks, the private investor, or the execs from the companies being purchased that will have a stake in the new venture, that all the old debts are paid before they consummate this deal.
The company isn't going to spend a dime on this buyback if they are not 100% certain that the acq's will happen. Dean has said, "they will close". What more can you ask for at this stage? Obviously if they haven't yet closed, they can't PR that they're closed. But the next best thing he can do is tell us that they will. He did that and recently too. He doesn't need to say it everyday. He doesn't have time. I'm sure if someone asked him again, he would probably roll his eyes and say he already told us in a PR that they will close. What else do you want?
In my opinion th e flight school is a small part of this. I think the big thing is mfg. this VLJ and selling into an untapped market. JMO
