read the rest of my post Snug, and you will see that I did not say that NN said so directly. Perhaps my quotation marks made it appear that way. I was trying to emphasize that the BOD appears to think that serious investors are stupid enough not to look at the history of a stock. When they see the RS, they will not be fooled.

IMO, there is no chance that they will not use the RS if they are given the opportunity, unless we end up with another stock collapse due to Greece and Portugal.

In reality, he knows that he will not lose money (and neither will we) unless he liquidates some of his vast stock holding. And that is what a lot of people panic over. We don't lose money when the stock price falls, we just lose value in our portfolio. The losses are only realized if you sell the stocks. Same as the profit that those of us in the black are seeing now. It will only be a profit if we sell. Me? I'm well in the black and still waiting for that 43-101...