Noranda Income Fund Unit T.NIF.UN

RE:RE:RE:RE:Strike vote

[Bigbird9999]

Due to the nature of the process, management cannot run the plant without the workers.  In fact, they need several days notice to idle the plant safely without causing significant  and expensive (think multi million $) damage.  It is a chess game because if they try to idle the plant the union will walk out and they won't lock them out because they need them to idle the plant so they keep talking.  The only way there will be a strike is if the board  wants one.  Glencore might well desire a strike as part of their "master plan". to dominate the world zinc market but we need to remember that Glencore does not control the board  (3 of 7 seats).

The independent board has a fiduciary duty to us.  Obviously, this includes negotiating the best possible labour contract but more importantly it means continuing to operate athe plant at maximum profitability.  Glencore has already agreed to supply feed, at the much discussed "market terms".  The only way to maximize profits is to operate the plant at capacity.  Engaging in a brinksmanship game of chicken with the union is not fulfilling their fiduciary duties.

They are still talking with the aid of a gov't conciliator, this is SOP.  It might drag on for a while and cause a lot of uncertainty but they will eventually settle.  I just looked it up, the last time they ratified on Feb 18, 2014  with the aid of the gov't.  (so they worked Nov 1 - Feb 18 without a contract while negotiating).

Meanwile, if you still own the stock by 4 pm you get the Jan istribution (ex dividend tomorrow).

BB