Not at the small quantity Martha was trading. Specialists would have easily made up the difference.
I never said there should be a cutoff. Although I am skeptical of tippee liability for insider trading as a matter of policy, it can be justified on confidence-in-the-market grounds. My only point was that the claim that people who purchased ImClone on the day Stewart sold were financially harmed by her sale is fallacious.**
As per the above, please point out where I said the size of her profit matters to the determination of her criminal liability. I was disputing a factual claim, not denying criminal liability.
She’s getting in trouble like this simply because she’s a highly successful woman who pissed off the big boys earlier in her career and now they’re out to get her. Sure she’s a bitch, but that’s how she made her billions. I don’t like Martha Stewart that much either, but men do this kind of thing all the time and never get called on it like this.
She made her billions by being a bitch? I’m sure you don’t believe that. Isn’t it a tad more likely she made them by showing people how to be better homemakers? Wasn’t that her raison d’etre??
Good God. If it were possible to make billions simply by being a bitch . . .
“Oh, get over it” is EXACTLY the appropriate response to that kind of ridiculous question. High standards should be applauded. If you can’t meet them (and Lord knows, there’s no shame in not meeting the Martha Stewart standard), and appropriate response is NOT to suggest that the bar be lowered for everybody.
Monkey With A Gun nailed this one exactly. Sure, no one complains about Bob Vila, but then no one asks Bob Vila that kind of stupid fucking question. If 'ol Bob ever was asked if he was setting too high a standard for Do-It-Yourselfers, I’d hope his reply would be “oh, get over it.”
Also: You READ the interview, and yet from that you could glean Martha used her “best snooty voice?” :rolleyes:
They have to have Martha at the country club first. Decorating always takes precidence over population. When they finally get around to the Ken Lays, would you want them coming to a plain barren facility.
Guinistasia, did you miss the fucking part where I said “SHE AND HER STAFF are very talented?” Just because my house won’t look exactly Martha’s doesn’t mean I can’t take some of her projects and do them (which I have). I’ve made my own garlands for christmas, I intend to paint my new condo using her colors. She has the best cornbread recipe on the planet, not to mention her shortbread.
Here’s a tip: I’m not an idiot who thinks I can do everything Martha does. I can pick and choose what I CAN do and be proud of it. If my house is even an QUARTER as beautiful and organized as hers, I’ll consider myself a success. I take great pride in my home and making it comfortable and beautiful for my guests.
Martha, more importantly took a catering company that she started BY HERSELF (read Entertaining) and turned it into a billion dollar company.
I, too am starting a catering company…and I continue to look to Martha for tips and ideas on how to improve it.
I apologize, dan. I’ve just been cast in the unlikely role of defending martha to EVERY SINGLE ONE of my family and friends over the past few days. Ten emails:
“WHAT ABOUT YOUR MARTHA STEWART NOW???”
I’d still love to write her a letter and ask for her advice on starting a catering business, because I admire her entrepreneurial spirit.
Well, it’s better to admire her for her entrepreneurial spirit than for her attitude and whatnot, but that applies to almost everyone. For example, there are people on here (no, go on!) who don’t exactly post in a gregarious manner at all times. However, sometimes - no, often - what they do post is insightful and bears repeating. Therefore it’s smart to admire these people for their wisdom and perception while not condoning their actions.
Yep, the SEC chose a celeb at random and at Ken Lay’s bidding in order that he be permitted further access to funds of the company he no longer runs that’s in Chapter 11 and under incredible public and governmental scrutiny. Yes sireee Bob!
There’s nobody the SEC want’s more than Ken Lay. They’re building their case where they can, following the evidence and prosecuting provable criminal behaviour, applying pressure on subordinates in the know who hopefully will crack and testify against Lay in a plea bargain deal.
The SEC hasn’t forgotton about Enron. It’s financial dealings were very complex, necessitating the same in the prosecution.
Martha got a call from her broker with inside information not available to the public and in the same phone call instructed him to sell all her shares, a clear and very obvious violation.
She shouldn’t be prosecuted because the SEC is still working to build it’s case against other, more egregious violaters? Her prosecution is somehow a smokescreen concocted to enable Lay, Fastow and Shilling to get off?
She started the catering business with a friend who she stabbed in the back and took control of the business from. Read Martha, Inc by Christopher Byron and Martha Stewart: Just Desserts, by Jerry Oppenheimer for the full story.
It’s fine to admire her drive and business skills, but you should also remember that Martha bulldozed anyone who got in her way–family, friends, and business associates alike.
Those investors would have bought the same number of shares at the same price even if Stewart hadn’t sold. They didn’t “soak up” anything. They would have ended up in exactly the same financial position had Stewart elected not to sell.
Look. My bottom line is. She’s a bitch to people. Yes. I realize that. I joke about it. It’s funny.
She also has done FANTASTIC AND WONDERFUL things, and being a bitch is certainly not a crime. She made a mistake with the stocks, and was greedy and overly ambitious.
Doesn’t mean I’m going to throw out all her books and stop making home made gnocchi.
And by the way. I wouldn’t let anyone take over my catering business either. It’s MINE and I created it.
My grandmother’s cornbread recipe is much, much better. Sure, she was a hateful bitch, but man, could she make some cornbread. I will brook no debate.
You are correct, in large part, about Martha Stewart, and why people dislike her, but I think there’s an additional problem in this specific instance- she’s a gazillionaire, and was involved in some admittedly shady dealing concerning a relatively minor amount of money. (at least, for someone as wealthy as she). Nothing wrong with being concerned with one’s $$$, of course, but this rubbed me the wrong way.
