I hear what you're saying, but I'll submit two little comments (followed by a short novel).

1) Should they reveal any details at this point?  Would worry warts by "comforted" by hearing talk of "this is what we'll do if our team fails in TX"?

2) The determining factor (TX) may be known VERY soon IMO.  Actually, Ward's ruling on the ACP issues - which should come any day now - will IMO tell most of the story, enabling action.

You KNOW what action I'd like to see them take RIGHT NOW - buy back as many shares as possible, preferably directly from Swartz/S&L because I still regard their holdings as "overhang".

As far as acquisitions are concerned, keep in mind that (IMO) when you've nailed down your "short list" of candidates, you have to do extensive DD on ALL OF THEM in order to determine the best candidate with which to engage in hard core negotiations.  While I did not like the timeframes JT cited in the interview, upon reflection, those timeframes are pretty realistic when looking at the full complexity towards making the best decision. And that extensive DD - that'll be expensive.  Techies, lawyers and auditors at minimum; integration of inputs from each.  It's not the same as doing DD on one "must have" target (which in my experience takes a good three months minimum).  It's compounded by multiple targets being compared.

Just my two cents, and I KNOW nuttin'!

SGE