What a pleasure to see Amanda Lang back in the sidesaddle.
Following a series of unfortunate conflict-of-interest misunderstandings at the CBC (Franks passim), the former Corpse business bingo-caller disappeared into the vortex of Bloomberg Canada.
But now she’s completed her two-years penance, and with time off for good behaviour she’s been redeemed by Bell Media as an “esteemed business journalist.” Henceforth, Amanda will make star turns on BNN, CTV News and various other Bell Media properties (whose dull acronyms escape me at the moment.)
Doubtless, CTV News boss Wendy Freeman has had a full and frank discussion with Amanda regarding any potential conflicts of interest that might arise in her reporting on the Canadian business scene.
That would include Geoff Beattie, the former Royal Bank director, currently major domo with General Electric and Amanda’s latest life partner (replacing Vince Borg in 2015.)
Of great interest to Amanda’s CTV audience will be her deep thoughts on the current travails at General Electric, which slashed its dividend in half earlier this month.
A shell of its former self, GE has been the worst stock among Dow Jones Industrials this year. Smart money has known for decades that any investment is dead money, going back to when Beattie’s golfing buddy, CEO Jeffrey Immelt, took over at the turn of the century.
Beattie owns almost 900,000 shares at last count, worth about (US)$25 million. Barron’s reported in February 2015 that he made an “industrial-sized” and the largest insider purchase of General Electric shares in years.
Having bought shares at around US$28, the debacle three weeks ago has melted the stock down by one-third, so far, to US$18. That works out to a loss of US$8 million in Beattie’s jeans.
Hard times, and we hope Amanda will stand by her man, even when the private charter aircraft is no longer at their disposal to waft them to either his pad in Nantucket or the Bahamas. (No conflict here, shurely?!—ed.)
Frank looks forward to full disclosure on Beattie and other barons of Bay Street by the newly transparent Ms. Lang.