For years before I got satellite television, I used to watch “Wall Street Journal Report with Maria Bartiromo” every Sunday morning.   It wasn’t that I had an insatiable hunger for news about Wall Street, mind you.  It was because every other channel in the Phoenix area aired infomercials during that time block, so I really had no other option.  And besides, Ms. Bartiromo has a certain “native charm,” as it were—an exotic appeal that reminds a guy of a young Sophia Loren.  In other words, it don’t hurt the retinas one bit to look at her.

See what I mean?  (But I digress…and gush…at the same time.) 

Now, it seems, Maria “Money Honey” Bartiromo—the star financial anchor for CNBC—has moved from the realm of reporting the financial news to the realm of making it.  Indeed, a certain Mr. Todd Thomson has lost his job because of the nature of his relationship with Bartiromo.  Last week Thomson was ousted from his position as chief of Citigroup’s Smith Barney wealth management unit.  The decision to relieve Thomson of his duties was made by Citigroup Chairman Charles Prince.  The Associated Press reports that his ouster arose in part “over issues of judgment, including his dealings with Bartiromo”:

Questions arose about trips she took on a Citigroup corporate jet, and one she didn’t. About a year ago, Thomson was turned down when he asked for the jet to bring Bartiromo to his home near Bozeman, Mont., for a skiing vacation he was hosting for some private-banking clients, according to The Wall Street Journal.
[…]
Among other complaints, Thomson was faulted by Citigroup Chairman Charles Prince for the decision to spend $5 million to sponsor Sundance Channel programming that Bartiromo was expected to co-host. According to the Journal, Bartiromo no longer will host the project.
[…]
Since 2004, Bartiromo has aired 11 major pieces on Citigroup, including four interviews with Thomson, according to the Journal’s review of CNBC transcripts.  (Emphasis added by Effluent.)

Oops.  I suppose that just might raise some eyebrows on Wall Street.  The AP article goes on to comment on universally accepted standards of journalistic ethics as they relate to the Money Honey:

The succession of events has focused media scrutiny on Bartiromo, who, like any reporter, is expected not to get too close to, or accept favors from, the people and companies she covers.  (Emphasis added.)

Ms. Bartiromo is known to have flown on a Citigroup corporate aircraft on several occasions.  According to the Financial Times:

Mr. Prince [Citigroup’s chairman] in particular questioned Mr. Thomson’s judgment in offering Ms. Bartiromo a seat on a Citigroup aircraft during a trip to Asia.  This involved a flight between Shanghai and Hong Kong, where Ms Bartiromo appeared at Citigroup client events, and a flight back to New York.  Ms. Bartiromo, who has interviewed Mr. Thomson several times, has often been invited to corporate events by Mr. Thomson, insiders say.
[…]
CNBC said Ms Bartiromo “received approval for the trip and reimbursement arrangements were made”. Ms Bartiromo, an occasional contributor to the Financial Times, did not respond to a request for comment.

Bartiromo, 39, was the first reporter ever to report live from the floor of the New York Stock Exchange, and has covered Citigroup for a number of years.  She’s married to Jonathan Steinberg, the son of financier Saul Steinberg.

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