The Bay Street analyst’s comment below is in response to this performance on BNN
Brent, Sleep Country, Golf Town, PrimeWest, Teranet (the Ontario Public Registry) - all have been turned into private trusts owned by institutions. If Amanda Lang had bothered to go to University and actually study business, finance or economics -areas where she affects some expertise - she would know that there is only one form of organization.
Every income trust owns a corporate entity. The corporation is private, while its owner - the trust - is public. The corporation is taxable. It's capital has been structured to minimize corp tax and maximize personal tax.
Amanda is becoming known as the Sarah Pallin of Cdn business journalism: a mile wide and an inch deep. If asked, Amanda Lang could not draw the structure of an income trust then explain the diff between it, an LBO, and a mutual fund.
These business reporters who have never actually studied business think they can become expert in something by talking/writing about it. Why bother with University? Gee, would you go to a dentist who earned his credentials by talking about dentistry? Or a lawyer who watched Law & Order to gain his or her expertise? That's the approach the G&M and BNN take to hiring "talent".
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)
Tuesday, April 14, 2009
Bay Street Analyst paging Amanda Lang
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4 comments:
"Every income trust owns a corporate entity. The corporation is private, while its owner - the trust - is public. The corporation is taxable. It's capital has been structured to minimize corp tax and maximize personal tax."
Most MPs would not understand this concept esp that nimrod Layton.
if this structure is ok for pension funds & law firms , why not us.
Dr Mike
These BNN reporters are like the wind, if the news is great they report great news and if its bad they report bad news and always end the report with a 20 sec bite on the opposite view.
Yup, business news you have to read between the lines.
Thank God they give guys like Sandy and Densis Mitchel at Sentry to spell
the truth.
JC
Amanda,
I suggest you have Brent Fullard on as a guest and maybe you can become enlightened on Income Trusts! (Or Seymour Schulich!)
Doug
I agree with all of the above comments.
However, I have to say--if women were selected for their abilities rather than their looks (and hair), as men are, then this wouldn't be a problem.
It doesn't help that the Harper govt. is working against pay equity and equal rights.
We still have miles to go before we sleep. Sigh.
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