RE: Acquisitions Jim, you obviously did not do your due diligence or, worse, are not telling the truth.
Because the truth is that CSU has not issued a single share in the last four years (I did not bother to look before 2008). At last count (in September), there were 21,192,00 shares outstanding, the same reported at the end of December 2008.
BTW, if you look at normalized earnings, CSU's PE is more in the range of 14 to 15.
CSU has nothing to do with the likes of Phillips or Laidlaw. Do your DD.