it's not your imagination - Gord heard it too and filed a lawsuit (settled out of court, I believe.) From
http://www.corfid.com/gl/biography.htm
"In April of 1987, Lightfoot filed a lawsuit against Michael Masser, alleging that Masser's song "The Greatest Love of All" (recorded by Whitney Houston) stole twenty-four bars from Lightfoot's 1969 hit "If You Could Read My Mind." According to Maclean's, Lightfoot commented, "It really rubbed me the wrong way. I don't want the present-day generation to think that I stole my song from him." Unlikely, though Lightfoot himself has always remained cautious and questioning about the industry. Said Toronto promoter Bernie Fiedler, "I don't think Gordon realizes that he has a tremendous talent. When intelligentsia of the music business courted him, he felt threatened. He's a cautious man who won't take chances."