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 NEW Martha Stewart Cricut Cake Bundle Machine w 8 NEW Cricut Cartridges $224.99 (1 Bid) Time Remaining: 4d 14h 37m |
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 MSE Martha Stewart Everyday Teapot Covered Sugar Bowl and Creamer Hydrangea $20.00 Time Remaining: 3h 40m Buy It Now for only: $40.00 |
 NWT Martha Stewart Collection Macys 100 Cotton Napkins Set of four $9.95 Time Remaining: 25d 20h 45m Buy It Now for only: $9.95 |
 10 MARTHA STEWART EVERYDAY Pie Tart Tin Baking Mold Candles NIB $9.99 Time Remaining: 10h 11m |
 Martha Stewart Collection Set of 3 Mixed Vegetable Kitchen Towels $10.99 Time Remaining: 5d Buy It Now for only: $10.99 |
 MARTHA STEWART STAINLESS STEEL DOUBLE WALLED ICE BUCKET WITH TONGS $22.99 (1 Bid) Time Remaining: 13h 2m |
 MARTHA STEWART 90 INCH ROUND DAMASK TABLECLOTH IVORY $28.99 Time Remaining: 14h 51m |
 Martha Stewart Vintage Girl Cake and Cupcake Stencils $8.79 Time Remaining: 29d 16h 46m Buy It Now for only: $8.79 |
 NIB Martha Stewart 14 Aluminum Platter Park Leaves Collection $9.99 Time Remaining: 16h 49m |
 Martha Stewart Pumpkin Face Cupcake Stencils NEW $6.59 Time Remaining: 9d 18h 35m Buy It Now for only: $6.59 |
 NIB Martha Stewart Park Leaves Bird Aluminum Salad Servers 2 piece set $7.99 Time Remaining: 16h 49m |
 MARTHA STEWART RECIPE COCKTAIL SHAKER $19.99 Time Remaining: 20h 27m |
 Martha Stewart Covered Nonstick Take Along Cake Pan 13 x 9 $7.99 Time Remaining: 29d 14h 35m Buy It Now for only: $7.99 |
 Martha Stewart Collection with Wedgwood Sundew Goblet $15.45 Time Remaining: 23h 41m |
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 Martha Stewart Collection Barware Recipe Boston Shaker 3 Piece Set $9.45 Time Remaining: 23h 41m |
 Martha Stewart Collection with Wedgwood Sundew Wine Glass $15.45 Time Remaining: 23h 41m |
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 Martha Stewart Holiday Garden Porcelain Cake Plate Serving Knife Set $14.50 Time Remaining: 23h 41m |
 Martha Stewarts Damask Cake Tier 5 Stencil by Designer Stencils C405 $25.00 Time Remaining: 22d 1h 7m Buy It Now for only: $25.00 |
 Martha Stewart Holiday Garden Metallic Red Chargers in Gift Box Set of 4 $12.50 Time Remaining: 23h 41m |
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 Kitchenaid Martha stewart stand mixer Ksm150psaq blue Artisan Tilt Aqua sky New $349.99 Time Remaining: 1d 1h 8m Buy It Now for only: $399.00 |
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 Martha Stewart Carry Cake Holder Clear Container Bake $20.99 Time Remaining: 29d 22h 52m Buy It Now for only: $20.99 |
 Martha Stewart Collection Macys Classic White Dinner Plate $15.00 Time Remaining: 1d 14h 52m |
 Martha Stewart Crafts Fringe Scissors FAST 2 DAY SHIPPING $12.80 Time Remaining: 2d 56m Buy It Now for only: $12.80 |
 Martha Stewart turkey platter $20.00 Time Remaining: 1d 19h 58m Buy It Now for only: $30.00 |
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 New 6 Martha Stewart Collection Medium Brown Napkins $17.95 Time Remaining: 1d 23h 32m |
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 Martha Stewart Everyday Bowl $2.99 Time Remaining: 2d 15h 21m |
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 MARTHA STEWART LARGE HEAVY FRY PAN SOLID STAINLESS EUC $4.99 (1 Bid) Time Remaining: 3d 4h 53m |
 Martha Stewart Heart and Love Cookie Cupcake Stencils NEW $5.49 Time Remaining: 5d 15h 9m Buy It Now for only: $5.49 |
 NEW Martha Stewart Fine Zester Kitchen Tool Stainless Steel $9.99 Time Remaining: 3d 10h 42m |
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 MSE MARTHA STEWART STAINLESS FLATWARE 18 8 PARTIAL SET FORKS SPOONS KNIVES $6.99 Time Remaining: 3d 16h 25m |
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 Martha Stewart Salt and Pepper $10.00 Time Remaining: 3d 19h 40m |
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 Martha Stewart Edition Cricut Cake w Cartridge for Professional Cake Decorating $207.34 Time Remaining: 4d 13h 7m |
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 MARTHA STEWART OVEN OR GRILL TAYLOR THERMOMETER WITH WIRELESS PAGER $16.99 Time Remaining: 4d 16h 48m |
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 MARTHA STEWART SANDWICH COOKIE NON STICK CAKE PAN NEW IN BOX $7.99 Time Remaining: 5d 11m Buy It Now for only: $9.99 |
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 Martha Stewart Napkin Rings set of 4 NIB $2.99 Time Remaining: 5d 14h 55m |
 25 Piece lot of Pink Martha Stewart Everyday Flatware forksspoonsknives $20.00 Time Remaining: 5d 23h 5m |
 MARTHA STEWART Collection New 17 PC UTENSIL Set NIB $24.50 Time Remaining: 23d 18h 29m Buy It Now for only: $24.50 |
 Martha Stewart NEW Holiday Garden White Tea Coffee Sets Serveware 5 PC $1.50 (2 Bids) Time Remaining: 6d 1h |
 NWT Martha Stewart Collection Macys 100 Cotton Napkins Set of four $4.99 Time Remaining: 11d 21h 49m Buy It Now for only: $4.99 |
 Martha Stewart NEW Festive Plaid Dinnerware White 4 PC $0.99 (1 Bid) Time Remaining: 6d 1h 21m |
 Martha Stewart Everyday Dinnerware 19 pieces Blue and White made in France $18.00 Time Remaining: 23d 11h 51m Buy It Now for only: $18.00 |
 Martha Stewart NEW Holday Garden White Serving Platter Serveware $0.99 (1 Bid) Time Remaining: 6d 1h 44m |
 Martha Stewart NEW Single Wine Glass Clear $0.99 Time Remaining: 6d 1h 44m Buy It Now for only: $1.90 |
 MARTHA STEWART OVAL TABLECLOTH METALLIC GOLD EUC $9.99 Time Remaining: 15d 13h 37m Buy It Now for only: $9.99 |
 NIB Martha Stewart Park Leaves Collection Songbird Salad Servers $28.99 Time Remaining: 6d 16h 52m |
 MARTHA STEWART COLLECTION SUMMER ENTERTAINING 3 PIECE DRINK DISPENSER $41.99 Time Remaining: 8d 16h 31m Buy It Now for only: $41.99 |
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 MARTHA STEWART EVERYDAY 100 Cotton NAPKINS 8 each $3.00 Time Remaining: 6d 18h 56m |
 Martha Stewart Spooky Hallowen Cake Stencils Stencils $5.99 Time Remaining: 9d 18h 42m Buy It Now for only: $5.99 |
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 Martha stewart cutlery set $50.00 Time Remaining: 9d 18h 37m |
 Martha Stewart Collection Ceramic Printed Blueberry Pie Plate $17.99 Time Remaining: 1d 18h 15m Buy It Now for only: $17.99 |
 MARTHA STEWART OVEN MITT NEW NEVER USED $4.99 Time Remaining: 8h 57m |
 NEW Martha Stewart CHRISTMAS HOLIDAY BAKING CUPS 2 styles 100 ct 5835 $2.99 Time Remaining: 1d 4h 1m Buy It Now for only: $2.99 |
 Martha Stewart Stainless Flatware 18 5 piece plate settings 90 pc total $40.00 Time Remaining: 1d 9h 58m |
Martha Stewart
The Martha Stewart Stock Scandal: Misinformation Persists
Although it has been almost ten years since Martha Stewart made her fateful decision to sell her shares of ImClone Systems Incorporated, the misconception still persists among the public, and many journalists, that she went to prison because of insider trading violations. However, Martha Stewart was never convicted of insider trading. While she was alleged to have committed this offense, the judge dismissed the general charge of securities fraud. Understanding what her illegal actions were is a key to seeing the reoccurring business ethics lesson: an attempt to cover up a small transgression can lead to a series of larger lies and, ultimately, prison.
Martha's path to incarceration began when her stock broker informed her that, Dr. Sam Waksal, the C.E.O. of ImClone, was selling all of his shares in the company. Martha owned almost 4,000 shares of the company, which were trading around $58 each. Based on the broker's information, Martha instructed him to sell her ImClone shares. It is not clear whether Martha knew the reason that Waksal was selling his shares. He had discovered that the Food & Drug Administration was about to deny approval of ImClone's cancer fighting drug, Erbitux.
Clearly, Martha Stewart's decision to sell her ImClone shares was not well thought out. Compared to her net worth, the value that her ImClone investment represented was inconsequential. Hindsight would certainly confirm this. By selling her shares one trading day before the FDA announced that Erbitux was not receiving approval, she saved about $45,000.
Insider trading occurs when people trade on the basis of non-public information that would likely have an impact on the trading price of a company's stock. It typically occurs when directors or officers trade on such information, though it also applies to third parties that rely on the information. In Martha's case, there was no evidence that she knew of the FDA denial or that she had any direct contact with any representative of ImClone. While it is arguable that the information from her broker still constituted inside information, in and of itself, this evidence was insufficient to justify a conviction and probably would not have led to any charges.
Thus, if Martha simply admitted to authorities that she did sell her stock on the basis of the broker's information, it may have been the end of the matter. Instead, she conspired with her broker to cover up the trades. They concocted a story that she had an arrangement with the broker, called a stop-loss, to sell the ImClone stock if its price fell below $60 per share. Others were asked to participate in the charade and the lies continued to grow. However, further investigation unraveled this lie and criminal charges resulted. Martha was eventually convicted of conspiracy, obstruction of an investigation, and making false statements to federal investigators.
Just as the executives in companies such as Enron and WorldCom initially made small adjustments to accounting assumptions in order to meet earnings expectations, Martha Stewart lied in order to conceal a relatively small transgression. In all of these situations, initial lies blossomed into larger ones, with the end result of imprisonment. The reoccurring lesson is to avoid taking the first step of concealing the truth since it too often leads to much more serious, life-changing implications.
About the Author
Greg Yanke is a semi-retired corporate and securities lawyer who studies topics in the fields of law, ethics, investing, and business, and observes how they interrelate. He holds political science and law degrees from the University of British Columbia in Vancouver, Canada and an MBA from Arizona State University in Tempe, Arizona. You can view Greg's Investment Rethink blog at http://www.investmentrethink.blogspot.com
Where can I find the fish stamp from the Martha Stewart wedding invitation?
Where can I find the blue vintage-y looking blue fish stamp on the Martha Stewart for Crane & Co. Cartouche Aqua wedding invitation? For that matter, where can I find any cool vintage-inspire (but still in circulation) stamps to put on a wedding invitation?
http://www.zazzle.com/custom/stamps
This is a great site, you can make any stamps you want with the little creator tool, and order them for not much more than the post office sells. They are official too, I linked to them off of usps.com. Just get a vintage photo and put it in there, voila! I am going to use them when I finally get to send out my invites.
Martha's Favorite Hot Dog Toppings