China MediaExpress Holdings, Inc. (fka CCME)

[abh3vt]

I completely agree with the need for a CCME buyback at current levels. It just goes to show you how dumb the deal with CV Starr was....if they did it just to get other institutions on board. Hasn't happened yet, but I suspect that the hedgies and mutual funds are probably waiting for another quarter or two for confirmation of management's abilities and the business model.

I also think the company should consider removing the incentive share structure for FY10 and FY11. At this point, why give yourself more shares if there isn't value being generated there? You can't sell it at present anyway! Big holders of stock in CCME would actually benefit more from having their existing stake rise due to the stock price responding positively to stronger fd eps growth in the future than from getting more shares at no basis.