That runs up the share price but does nothing for what we all want and are waiting for (i.e. a buyout). If they spend all their money and run up the share price and we sell it for the same price - there's no difference to us, whereas if the company bought them we would see a difference.

I guess we can use the money to buy more shares or trade before getting some more shares - but that's management still saying cash is more valuable in our hands than in their own hands.