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[QUOTE]Originally posted by JRB: [QB] Not really sure whether this is go news or bad news. Either way it seems relevant. Industrial Enterprises of America Announces Share Repurchase Program Print E-mail Enable live quotes RSS Digg it Del.icio.us Related **** Posts & Articles Last Update: 2:04 PM ET Dec 11, 2006 NEW YORK, Dec 11, 2006 (*********wire via COMTEX) -- Industrial Enterprises of America, Inc. (IEAM IEAM News , chart, profile, more Delayed quote data Add to portfolio Analyst Create alert Insider Discuss Financials Sponsored by: ) a specialty automotive aftermarket supplier, today announced that the Company's Board of Directors has authorized the repurchase of up to $10 million of its common stock and equity-related securities, including convertible debentures and warrants, over the next nine months. The Company plans to utilize existing cash reserves and ongoing free cash flow to finance the share repurchases. The share repurchases will occur through open market purchases, privately negotiated transactions and/or transactions structured through investment banking institutions as permitted by securities laws and other legal requirements. Market conditions will influence the timing of the buyback and the number of shares repurchased. The program allows the company to repurchase its shares at its discretion. "Today's announcement reflects Industrial Enterprises' positive cash-flow outlook and our commitment to shareholder value," stated John Mazzuto, Chief Executive Officer of Industrial Enterprises of America. "Given our recent share price, we believe that a stock repurchase program represents an excellent investment for our shareholders." [/QB][/QUOTE]
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