Uut of curiosity, why did you decide to do repurchasing the way you are doing it rather than repurchasing at discount from the open exchange orders?  Wouldn't everyone benefit most by clearing the maximum number of outstanding shares possible?  Why take N shares off the market when you can take 3N or 4N shares off the market providing increase value to everyone? 

I'm not complaining.  I'm just curious what the thinking is.