CCRT Share Repurchase

CCRT repurchased about 2.9 million shares on March 13th in a private transaction. Management continues to slowly but surely use its capital in shareholder friendly ways. I also noticed that Wachovia upgraded the stock the other day based on valuation, and this is the firm that thinks that credit problems will cause the company to only earn EPS of ~$3.00 this year instead of $4.00. Yeah, that's how crazy cheap this stock has gotten based on the "anything that operates in subprime is bad" hysteria. The company still has ~$600 million of excess liquidity to do accretive deals and share repurchases.