Martha Stewart says scandal has cost her $400M

USA Today / AP ^ | 1/27/2003 | AP Staff

[ex-Texan]

NEW YORK (AP)

[gov_bean_ counter]

I have a tough time believing this is the first time he (she) has run their mouth about FDA decisions.

[Miss Marple]

I have NO sympathy. Many people who were not CHARTER SUBSCRIBERS like I was are unaware that she was going to give a HUGE fundraiser in the Hamptons for Bill Clinton. She was going to feature it in the magazine and give the menu and the decor and pictures of him etc. The only reason this wasn't featured is because shortly before she was to hold it, the tape showing his LYING about Monica came out. On the advice of her board she cancelled.

Finding this out, I cancelled my subscription and have steadfastly distrusted her ever since. I am GLAD that she lost money, and I have no sympathy for her, since she probably made that money due to her ties to all the crooks in Clinton's circle.

She is NOT a good thing.

[fight_truth_decay]

she's "puzzled by the public's delight" in her troubles.

Taking into effect a "sell" can be placed way in advance of a sale, that truth will come out. What bothered me more were her words Republicans were out to get her..it WAS the media giving her the "image of wrong doing" not the Republicans. Rush on his show even stood up for her at the beginning to a degree...and then responded with disbelief after her remarks pointing fingers at the Repubs. That's when I thought..great PR Ms Stewart..you just lost alot of supporters..go it alone!

[ru4liberty]

Oh what a tangled web we weave...

[jjm2111]

My guess is that some FDA employees sell their "services" to corporations to give impending knowledge about approvals. Considering how slow the agency is in approving pharmaceuticals, I would not be surprised if an internal desicion to make or break a drug is not made weeks before the desicion is released to the public. Obviously, this allows the insiders to sell a portion of their holdings in order to cover their losses.

[gov_bean_ counter]

You will get no argument from me.

[mombonn]

I'll throw in my usual rant about her. She's a former broker. She KNEW she was breaking the law. She KNOWS there is no such thing as a verbal stop order.

She isn't the only one who has lost money due to her illegal actions; so have her trusting shareholders.

I hope she winds up in a cell for a good long time. Paying a fine is not enough.

[gov_bean_ counter]

Remember the issue if Hillary selling short on pharmaceuticals. How did she know what to sell? I ofter wondered if there was more to it than simply "talking down the industry".

[Political Junkie Too]

Martha Stewart estimates she has lost $400 million because of the federal investigation into her ImClone stock trade, she told The New Yorker magazine.

Expect the whine to proceed like this:

"Hasn't she suffered enough? What good would indicting her do? She's already lost $400 million."

"When has America become such an unforgiving country?"

-PJ

[fight_truth_decay]

You should also speak to people who have done work for her as I do know people in the trades who speak well of her. Also reports from others under her employ ( Maine )and the townspeople in the area where she lives and some of their"positive" editorials. These little town newspapers do not make the national eye.

When the National media was reporting "she was in hiding", she was very visible "working in this area meeting with locals on research for her shows.She is very much "hands on" when learning something new, especially with "work horses" she was said to have obtained. I guess I pick the little hometown newspaper with often personal contact over some AP reporter in NY or Chicago etc. We often choose to believe the media when it fills the "truth we want to believe."..the facts be damned!

I am not a supporter of how she has handled herself in this case.So will just wait to see how this pans out.

[Carolinamom]

She aimed her car at a service person and hit him. She and her daughter dated the same man. She hosted a dinner for K-Mart executives and among the charges billed to THEM, she charged $20 for each of the apple pies served. Just a few of her "not nice" actions.

[chiefqc]

What, am I supposed to fell sory for this greedy moron?

I work my as* off 50 to 60 hours a week just to get by, and you have the ba**s to whine about your loss of 400 million dollars. Your arrogant whining has no effect on me whats so ever. You deserve much, much more than you'll ever recieve from the courts. How many additional lives have you ruined with your greed? If I had the power, you would spend the rest of your greedy life in prison and serving the poor.

You and the rest of the "money above all" crowd are nothing but crooks in sheep clothing.

[TheJollyRoger]

She got YET ANOTHER insider tip from Hitlery.

Then gets a $400M tax reduction!

This rich witch gets all the breaks.

[fight_truth_decay]

And you were there and know this as fact? Sources help. Thanks. F_T_D

[Carolinamom]

I read both of the books written about her, one of them by a neighbor. Each book was documented.

[fight_truth_decay]

Those heathen Neanderthals…those scoundrels…those slimy snakes-in-the-grass! Of course, we’re talking about the CEO’s, CFO’s, accountants, auditing firms, and insiders like Martha Stewart, who intentionally misled the public or illegally profited during one of the greatest bubbles in Wall Street history. Wiping out over $5.5 trillion in paper wealth is no trivial matter. It’s downright criminal. And authorities are on a witch-hunt in pursuit of prosecutable culprits.

The inherent problem in all this hoopla is that any seasoned investor knows that a few Enron’s, Tyco’s, and WorldCom’s didn’t create the bubble. The bubble of the late 90s was produced by an overly lax (or even irresponsible) monetary policy, along with an endless deluge of optimism. In stoking the optimism, the major Wall Street firms provided the cheerleading, while the media provided the publicity.

The truth is that evidence of a dangerous bubble was rampant in everything from lofty valuations and soaring margin debt, to the price of a seat on the New York Stock Exchange and the record number of investment clubs being formed. But no one on Wall Street wanted to rock the boat in 1997-99. No one in control (neither the Federal Reserve or Exchange officials) wanted to take responsibility for ending the (Clinton's)* party. And only a few in the media cared about presenting a contrarian or out-of-favor viewpoint.

So here we are today, picking up the pieces and focusing blame on a few special situations – somehow trying to rationalize how this caused $5.5 trillion in stock market values to vaporize almost overnight. Well ironically, it didn’t. However, this misguided focus (or great bubble ‘cover-up’ as we call it) is continuing to damage investor confidence. And that is making for a very bumpy ride…"

James B. Stack InvesTech Research July 5, 2002 www.investech.com

(* my insert)

[Carolinamom]

The title of one of them is JUST DESSERTS, by Jerry Oppenheimer. Sorry, but I've forgotten the other title.

[fight_truth_decay]

Her neighbor(Conn.) sold his book that way..no bias there!..I will say we all have "Jerk" neighbors"whatever side of the fence they are on or incompetent people in our employ with grudges and if you are "news worthy" they can sell it to the media $$..We also have the right to sell any item if it going to a "local charitable" cause. Stewart doesn't need $20 for a pie.(Hey was it Apple..I would pay $50 to taste one of her pies! That was cheap!) But you are definitely right to your opinion.

Thanks

f_t_d

[Leavemealone]

I think the defining characteristic of being a liberal is absolute refusal to take responsibility for your actions. Stated another way, their existance is one of TOTAL victimhood. Nothing is ever their fault and they are a victim of someone else trying to get them.

Of course the people who have elevated this existance to an art form are Jessie Jackson and the Clintons.


Martha, CHARACTER COUNTS!! (This should be the official saying of all conservatives) The reason you lost 400M is because you broke the law and then tried to cover it up instead of taking responsibility for your actions.

It's that simple!!

[Rodney King]

Good post. She is also not a nice person. I know pretty well (I used to live in CT) someone who either does or did work closely for her (don't want to say which). In any event, Martha calls/called his/her home all the time at 3am just yelling and screaming. If spouse answers he/she is treated to the same.