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Strategies & Market Trends : Dividend investing for retirement -- Ignore unavailable to you. Want to Upgrade?

To: KyrosL who wrote (11456)	4/9/2012 3:28:27 PM
From: chowder	2 Recommendations Read Replies (2) \| Respond to of 34328

I was suckered in by the CEO of FTR. I believed her every time she said the dividend was safe. She continued to say that FTR was committed to being a high yielding company. I believed her. Right up until a couple of weeks before cutting the dividend, she was still saying it was safe. She damn lied. I understand the concept of getting paid while you wait, but in my opinion, that only works with companies that are financially secure and have a management team that looks out for share owners. FTR ain't it! In addition to cutting the dividend for the second time, their credit rating has been lowered. So, I cut my losses. I sold everything except the shares I received from VZ. Maybe FTR rebounds from here, I don't know. All I know is that I would rather have my money placed in companies I can trust. I can understand someone taking a speculation position today, if they didn't own FTR during this process or get burned by them. I just couldn't sit back and hold after being lied to. I took a hefty loss too. I think I lost 50% of my position. The loss to my total portfolio value though was just 1.5%, so I'm thankful for that. Ha!