RE:Case study #2 - Henry Singleton and Teledyne Inc.
I've been a big advocate for SIB as well. I think it would make a lot of sense to lower the number of shares down. The NCIB is limited by volume causing them to not be able to buy back a lot of shares except in blocks where institutions want to sell. If they did a SIB it would be a great return of capital to investors because the price is so low. If earnings start to improve past 3 cents a share per month in the coming quarters, they still may be able to do a SIB with free cashflow. I wonder if it's a similar problem of volume, if they offered to buy 10% of the shares, would they receive enough bids to do so?