Who on Agora has an argument with this approach?

I doubt there are even a few.

The ONLY thing I'd prefer that would be different from this approach would be for there to be a 50-50% split of the MMP net revenues to PTSC - half to dividends, and half directed at prudently timed/priced share buy-backs (thus reducing float over time, and enhancing the value of our core investment). Another good reason, IMO, for share buy-backs and enhancing the value of the stock has to do with shareholder control of the timing of income - tax considerations. I can't control when dividends may come. I can control when I choose to sell some shares, and I do want those shares to increase in value over time.

Implementation of this approach, which has been my preference for years, coupled with divestiture of PDSG (hopefully for a profit or at least break-even after tax benefits) AND a serious reduction in BoD compensation, would make me a happy camper.

JMHOs,

SGE