On the afternoon of Oct. 31, 2006, the S&P/Toronto Stock Exchange Composite Income Trust Index (SPRTCM) closed at 164.86. In the ensuing two weeks, it gave up 17.8 percent of its value, bottoming at 135.51 on Nov. 14, 2006. Read More

Just Like Heaven? Daimler is actually paying about USD1.5 billion to get out from under Chrysler’s healthcare obligations to workers and retirees. What seemed manageable nine years ago when the automakers combined to form DaimlerChrysler is now driving the companies apart. (Cerberus is investing USD7.4 billion in cash, of which… Read More

At the top of all company earnings-results conference calls, the emcee will remind investors that the discussion is likely to include predictions about the future of the business and that they shouldn’t assume anything will happen for certain. Read More

Private capital buyouts of trusts accelerated again last month. We’re up to 22 deals and counting since Halloween, the vast majority involving US-based investment entities. Read More

“It should come as no surprise to investors that highly rated income funds have been involved in many initial strategic initiatives during the first four months of 2007. Good businesses with capable management are desirable investments regardless of the entity structure.” Read More

There’s a lot of junk out there that’s rapidly melting away in today’s challenged environment. And no matter how much private capital is looking for places to invest—or how friendly Canadian politicians may become to the trust structure—complete failure is only a matter of time. Read More

No oil and gas producer trusts trimmed distributions in April. And with oil and gas prices rising this year, it’s likely we’ve seen the worst for all but the very weakest trusts. Read More