If the preferreds were the reason for the drop in PPS then it should have come back to an elevated level when the preferred's died. You have no proof of dillution of any kind nor do I have proof there wasnt dillution outside of what the financials said.The previous O/S was 13.6 billion now it's 12.2 billion according to 5/31/07 financials. In your statement why didnt you mention the 1.4 billion buyback and the lowered O/S?
"It cost us 6 months, a deflated PPS, and concern over the amount of dilution caused by 10:1 conversion to commons that we don't yet know the amount of..."
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