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WWE News: Linda owns interests in Keystone Pipeline companies, other financial interests potentially affecting campaign, amount the McMahons lost in 2010 economic downturn

Mar 31, 2012 - 3:52:13 PM
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By James Caldwell, PWTorch assistant editor

LindaConcedes_1.jpg
The much-talked-about Keystone XL Pipeline that would stretch from Canada to Texas has reached the pro wrestling world. Financial records released by former WWE CEO Linda McMahon reveal the U.S. Senate candidate in Connecticut owns "as much as" $437,000 in investments in 15 Canadian companies that would benefit from the Pipeline.

McMahon also reported shares in ConocoPhillips ranging from $15,001 to $50,000. ConocoPhillips has partnered with TransCanada Corp., which is the "sole owner of the Keystone project," according to the Journal Inquirer newspaper reporting the story.

As a result, questions have arisen whether McMahon's recent pro-Pipeline stance is affected by her financial holdings. On Friday, McMahon said the Pipeline would "create jobs" and is “vital to our national security to move away from dependence on nations that want to harm the United States.”

Also in-play is McMahon investing $317,000 in 12 energy, technology, and communications firms based in China and another "several hundred thousand dollars" in multinational firms based in Hong Kong and China. Asked Friday about the story, McMahon asked for list of “specific companies you find problematic.”

The findings were part of a 105-page financial disclosure that also revealed she and WWE CEO Vince McMahon jointly hold a "diversified portfolio of scores of stocks, bonds, and investments in hedge funds, mutual funds, and real estate worth as much as $319.3 million."

Vince & Linda did take a hit between $5 and $25 million in 2010 - during the global economic downturn - in connection with a “portfolio loan account” at Morgan Stanley Bank.

Some other interesting shareholder disclosures made in the financial report:

-- Linda McMahon owns shares in the publisher of Maxim Magazine valued between $50,000 and $100,000.

-- McMahon’s biggest investment in China is in Baidu Inc., an Internet search company based in Beijing. Baidu is being sued by pro-democracy advocates in New York for censoring its online offerings.

-- Investments in multinational corporations with offices in China include Adobe Systems Inc., Apple Inc., Ericsson, Intel Corp., Microsoft Corp., and Oracle Corp.

Link: Full report at JournalInquirer.com URL: http://bit.ly/H6BrLU


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