Friday, January 23, 2015

CBC bans paid appearances for on-air talent

News website Canadaland reported last week that Lang tried to “sabotage” an important story by colleague Kathy Tomlinson on RBC and temporary foreign workers, pointing out that she is in a personal relationship with a member of the bank’s board and had given speeches at events sponsored by, among other companies, RBC.

Lang previously denied to the Star that she tried to “kill the story,” that she was hiding a potential conflict and that she had received money from RBC for speaking engagements. She referred the Star on Thursday to an op-ed piece posted on the Globe and Mail’s website, where she wrote that she accepts the CBC’s new policy. She reiterated she stands by her work as a journalist.


 

Move follows controversial speaking engagements

The CBC announced Thursday it will no longer allow its on-air journalists to make paid appearances, a little over a week after senior business correspondent Amanda Lang publicly faced allegations about potential conflicts of interest for giving paid speeches.


CBC News and Centres editor-in-chief and general manager Jennifer McGuire told the Star the discussion around paid appearances had been ongoing, but that “the events of the last little while” impacted that discussion.
“The paid activity, just by virtue of being paid, was creating challenges in terms of our reputation,” she said. “So the idea was to just stop that from being the conversation and push our journalistic policies even further. It was creating a perception that we don’t think is right for our brand.”
McGuire and her Radio-Canada counterpart Michel Cormier broke the news to staff in a memo. She said reaction to the policy shift was “mixed” within the organization.
The union has already condemned the new rule and hinted that it will challenge it. The updated policy will not apply to freelancers, such as Rex Murphy. McGuire said the CBC, which had already been tracking on its website paid and unpaid appearances, will continue to monitor unpaid activity for any perception of conflict. The announcement comes on the heels of a very public spat at the Crown corporation over the issue of perceived conflicts of interest.
News website Canadaland reported last week that Lang tried to “sabotage” an important story by colleague Kathy Tomlinson on RBC and temporary foreign workers, pointing out that she is in a personal relationship with a member of the bank’s board and had given speeches at events sponsored by, among other companies, RBC.
Lang previously denied to the Star that she tried to “kill the story,” that she was hiding a potential conflict and that she had received money from RBC for speaking engagements. She referred the Star on Thursday to an op-ed piece posted on the Globe and Mail’s website, where she wrote that she accepts the CBC’s new policy. She reiterated she stands by her work as a journalist.
“I want to continue to do this work that I know and love, that I’m granted the privilege to do,” she wrote. “To do that, I need the full trust of the public.”
McGuire told the Star the “the whole situation around Amanda Lang is being reviewed,” including her past coverage of RBC. She declined to comment on whether Lang should have publicly disclosed that she is in a relationship with RBC board member Geoffrey Beattie, saying that is part of the review.
Lang wrote in the Globe that in retrospect, she should have disclosed the relationship at the time of the RBC story, writing “In my mind, it was then a private matter.”
Tomlinson told the Star she approved of the change in policy.
“I think it’s an excellent outcome for our audience and for everyone who works at the CBC,” she said. “All the people involved in this decision deserve a lot of credit for doing what I believe is the right thing.”
The developments at the CBC have brought the issue of potential conflicts for journalists stemming from speaking engagements to the forefront. The Toronto Star’s policy reads:
“Before appearing before an outside group, whether through an event organized by the Toronto Star Speaker’s Bureau or independently, editorial staff must consider whether an actual or apparent conflict of interest or threat to the impartiality of the Star’s journalism exists.
“Staff members may not accept invitations to speak before a single company (for example, at a corporate executive retreat) or an industry event unless the managing editor or ME designate agree the appearance does not undermine our impartiality. In such a case, the Star should pay any expenses; no speaker’s fee should be accepted.
“Employees should not accept invitations from outside companies to speak where the function is to attract customers to an event primarily intended as profit-making,” the Star’s policy states.
McGuire said while the CBC will no longer approve paid speeches, those that have already been confirmed will go ahead. She said paid activity will likely cease by February. She said some of the highest-profile personalities at the CBC have been supportive of the move.
“I was fully aware the decision was coming,” said The National anchor Peter Mansbridge, who has faced criticism in the past for giving paid speeches. “I’ve been part of the discussions for quite some time, agreed with the decision and as always will follow CBC policy.”
The public broadcaster’s union, the Canadian Media Guild, called the new policy a “blanket prohibition,” saying it violates its collective agreement. In a statement, CMG said the CBC already had tools at its disposal to avoid potential conflicts by having managers approve paid and unpaid appearances.

Bull Market Continues Worldwide

Can’t keep a good bull market down. Markets around the world continue to respond to largesse of central bank with virtually every market that is trading right now in the green and the U.S. futures tracking higher. For reference, the S&P 500 is a very modest 27 points from its all-time highs. Bonds continue to be well bid with yields this morning down pretty much everywhere as well (although Canadian and U.S. government yields are marginally up off recent lows). Where does it stop? And if you wish to get vertigo take a look at a one year graph of the U.S. traded weighted dollar spiking higher again yesterday. On a long term basis though – breaking out of a base and more to go technicians say.
In the news – flash PMIs from Markit are out and are generally decent relative to expectations and the previous month. China remains below 50 but it is better than last month. We’re awaiting PMI in the U.S. after 9 a.m. k and existing home sales and the leading index.
The new low list is virtually empty (with the exception usually of energy and materials names) however, one surprising name on the TSX – TMX Group trading at $46.89 and a 3.4% dividend yield is plumbing the depths trading at the lowest level since October 2013. Increasing competition and listing worries likely to blame – but is there value? On another interesting note, bulls have been lining up for Bank of America (BAC) if the options market is any indication with 60,000 March 16 calls traded yesterday.
Finally, according to Barclays, one of the ways (of course, just one) to look for the next takeover in the mid-cap U.S. banking space is look at the age of the CEO. Goldsmith, the CEO of City National is 63. Banks with CEOs of 63+ in Barclays coverage includes M&T Bank (MTB) , TCF Financial (TCB) and Comerica (CMA).

www.bnn.ca

Search The Web