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Saturday, March 7, 2009

About Livingston International Income Fund and why I am getting tired of it

I really dislike Livingston International management at this time. I just get through the reading of a press release in date of February 27 – which kind of old now, but it’s better now than never I guess.

In that press release, LIV.UN management explains what they had decided to do in order to face the crisis. The 3 major measures being the following: "Company-wide salary and hours reduction", "Elimination of salary increases", "Voluntary resignation incentive".

I am ok with the "Elimination of salary increases" and with the "Voluntary resignation incentive". But what I am way concern about is the salary and hours reduction. Like wow. Before cutting on the hours of their employees, it will be so much more intelligent to just cut completely off the dividend until things came back to a more normal state.

Because anyway, from 100 units, I will only earn 4.20$. Since the return is so little, I will way find it more professional from them to just announce a dividend cut instead of cutting the working hours of their employees. But life is like that. For me, it's sound almost like LIV.UN is close to bankruptcy.

And it’s in time like those that I am happy to just have purchase 100 units of LIV.UN.

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