Slacker, just to clarify for my own education, are you saying they are giving away shares to employees by re-issuing stock after the buybacks? If they never reissue them, I don't see how that would hurt the rest of the shareholders by dilution as long as the share count stays the same? It looks like they've bought back about 16% since AAL emerged [url=http://postimage.org/][/url] [url=http://postimage.org/]image upload[/url]