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Message: HUNTINGTON-L & emtnester / Re: Insiders buying - Why now?...OPTY
2
Nov 25, 2008 06:31AM
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Nov 25, 2008 06:47AM

Can't agree more. Trying to pitch to others to buy, and trying to pitch that the pps is undervalued, WITHOUT being able to demonstrate any insider buying yourself, (and really aside from the holdings of Falk and Felcyn), or any REAL insider ownership, would get them laughed out of the room, especially when you consider the 11 cent share price. I also believe that the encouragement by the shareholders for the BOD & Management to align themselves a bit more with the retail investors played a part, though I expect the desire to be able to show their willingness to buy to those whom they visit during their road show plays more a part.

While I applaud their purchases over the last few days, aside from Goerner's bigger buy, at these prices I would have liked to have seen more from Tredenick and certainly Johnson, and at least something from Schrock. The BIGGEST statement these guys could make in my opinion, with respect to purchases, is to file a preannounced buying plan (10b-5? I think is the proper rule reference) that would absolve them from any blackout periods and allow them to show strong confidence, provide price support through regular buying, and make steps toward "institutionalizing" the company's holdings, more along RG's stated 50% goal. I don't suggest that they would themselve make a big dent in that 50%, but if between them all they announced plans that would, over the next 6 months to a year, commit to buying 5M additional shares, they could increase insider holdings to about 2.5%, still a low amount, but working in the right direction without any excuses as to why they can't buy. I think it would send a very positive "buy" message to the market.

They certainly can still do that, and I would strongly encourage them, as I hope others here will as well in their communictaions with the company. I am a bit disappointed that Schrock is absent from any buying so far, and hope that is still in the works. Also, I think Johnson's 100K share buy is pretty pathetic, considering his meager overall holdings, his position of control with PTSC, and his ample renumeration from the company through his various committee memberships, BOD, & ties to Swartz. I would encourage him to do more to show support, or agree to step aside and get someone in there who is willing to.

2
Nov 25, 2008 09:35AM
4
Nov 25, 2008 01:49PM
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