Martha Stewart

Paper Summary:

This paper examines how Martha Stewart, the CEO of 'Martha Stewart Living Omnimedia, Inc', was found guilty on almost nine criminal counts including conspiracy, obstruction of justice and securities fraud. It looks at her life and the events leading up to her indictment and discusses whether she handled her indictment responsibly.

Outline
Introduction
The Martha Story
The ImClone Scandal
Handling of Indictment
Conclusions

From the Paper:

"The ImClone Scandal shattered Martha's image and perfectionist persona. In the month of December, she was tipped by an assistant with the Merrill Lynch Company of stockbrokers regarding the stock of ImClone System, a pharmaceutical company. The Chairman of the Company was going to sell stock because of an upcoming bad report by the US Food and Drug Administration (FDA) on Erbitux, which had been thought to be a successful anti-cancer drug. Martha based on the tip sold her stock to save herself the petty profit. "She had 3,928 shares in ImClone worth $58.43 each, or a total of $229,513. If she had waited she would have sold stock that had slipped to $45.39. That would have meant she would have incurred a loss of $51,222" (Stephen, 2004)."

Sample of Sources Used:

• Bysong, T. & Dr. Lidinsky, A. (2003). Martha and the Media: Souffle', Scandal, and Sex Roles. Retrieved on March 02, 2006 from: http://www.nd.edu/~frswrite/mcpartlin/2003/index.shtml
• Copeland Jr., J. Ethics as an Imperative. Accounting Horizons. Volume: 19. Issue: 1.
• Hill, P. (2003). Martha Stewart Faces Indictment 'In the near Future'; Her Sale of ImClone Stock at Issue. The Washington Times. June 4 Issue.
• Stephen, A. (2004). America: Martha Stewart Personified the American Dream The Poor Immigrants' Daughter Who Marketed a Gracious Lifestyle and Made Billions. Now, She Faces a Long Prison Sentence. New Statesman. Volume: 133. Issue: 4675. February 16.

More papers on Martha Stewart:

• Essay # 71065 : "United States v. Martha Stewart"
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• Essay # 86456 : "The Trial of Martha Stewart"
• Analytical Essay # 134983 : "Martha Stewart and Skinnerian Behaviorism"

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