Interesting day, but not if you still own it.

I sold most of mine quite a while ago, but that magic dividend yield kept me constantly interested.

The low so far today is 95 cents a share. With the newly cut annual dividend now 15 cents it provides new buyers with a yield of almost 16%. Very nice for the new owners and a company that will finally start using its cash flow to pay down debt big time.

Quite frankly, by cutting the dividend this much, announcing that the full $700 million of the AutoTrader sale will go toward debt, and the fact they're ending the current buying of common stock, this has a lot more potential for some serious future gains than at any time in the last two years.

I'm back in buying mode.

Cheers,

PW