I agree with your analysis - and would argue that the current shareprice alone (discounting the MMP - however, I would not discount the MMP based on Germany) is resonable from the potential of the other "irons in the fire" that we have going on currently (potential growth, etc.).

I wish RG was give a little bit more slack overall. He seems to be the right person at the right time to get this puppy going on the right track. I have held off buying for some time now but have again started to add to my position here and there..don't get me wrong, sometimes I feel as though I am a person carrying two cans of gasoline running into a burning building sometimes..but I don't think the present unfoldings are as bad as some people may believe. I, not unlike others, originally bought on the MMP alone..now we still have the MMP plus all of the other things and the share price is lower..

So you have to ask yourself, in my opinion, this fundamental question - are we a better company now than when we originally bought in to the company?..from my perspecitve the answer is "yes"..even if not reflected in the current share price.