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Homemaking diva Martha Stewart will pay about $195,000 and cannot serve as the director of a public company for five years under a settlement announced Monday on civil insider trading charges with the Securities and Exchange Commission. Under the settlement, the founder of Martha Stewart Living Omnimedia Inc., a multimedia empire dedicated to stylish living, agreed to make a payment relating to losses the government said she avoided on her sale of ImClone Systems Inc. stock in December 2001. Stewart agreed to pay $45,673, the amount of losses she avoided from her insider trading, plus $12,389 in interest. But the...

...FDA oncology drugs chief Richard Pazdur is the most important person in the U.S. government when it comes to cancer drugs, and he has never made a secret that he dislikes the accelerated approval process under which Iressa got the green light. Nor has he been shy about suggesting that the agency was railroaded in this drug's case. The truth is that Iressa-maker AstraZeneca simply refused to play by Dr. Pazdur's rules. In 2002 -- knowing it had plenty of data to qualify for accelerated approval -- the company rebuffed his requests for more trials and appealed directly to something...

Bob Dole Slams Kerry By Andrew L. Jaffee, August 23, 2004 Home   Search   Forum   Terms Nothing has really changed for Democratic hopeful John Kerry, except that real war veterans, like Bob Dole, are questioning the “superficial wounds” and resulting “medals” he received during four (4) months service in Vietnam. Kerry is still flailing, trying to cover up a career punctuated by extreme left-wing politics and flip-flopping by talking to voters about his military service. He squandered his acceptance speech at the Democratic National Convention by trying to convince Americans that his tour of duty in Vietnam will make him a great commander...

Ken Lay of Enron Indicted and Arrested By Andrew L. Jaffee, July 8, 2004 Home   Search   Forum   Terms Enron’s ex-Chairman of the Board has been indicted and arrested on charges connected with his former company’s implosion in 2001. Corporate executives at Enron engaged in all sorts of financial manipulations to pump up the company’s stock price. They created complex “partnerships” to hide company debt from shareholders. In 1998, Enron’s share price was at about $20. By 2000, it hit $90. By 2001, the company’s stock was worthless. Enron’s collapse wiped out billions in shareholder value and employee pensions. Democratic Presidential hopeful John...

NEW YORK - Martha Stewart (news - web sites)'s lawyers asked on Wednesday for a new trial, claiming that one of the jurors who convicted her lied about his criminal record during jury selection. In papers filed in U.S. District Court in Manhattan, defense attorney Robert Morvillo accused juror Chappell Hartridge of violating his oath, lying to serve on the jury and depriving Stewart her right to a fair trial. Stewart was convicted March 5 along with her broker, Peter Bacanovic, of obstructing justice and lying to the government about her sale of 3,928 shares of ImClone Systems stock on...

Take a look at the campaign contributions made by these three lovlies:Sam WaksalPeter BacanovicMartha Stewart Gee...I wonder what they have in common?

Martha Stewart's Surreal Ordeal by Christopher Westley [February 23, 2004] So the Martha Stewart trial has come to this. Judge Miriam Goldman Cedarbaum ruled that the government cannot introduce testimony about how Stewart’s statements to the press asserting her innocence of violating insider trading law affected investors of her firm, Martha Stewart Living. As a result, the government has effectively lost. The New York Times reports that this development is the nail in the coffin in the prosecution’s case, noting that "[a] person involved in Ms. Stewart’s defense said the ruling ‘renders the securities fraud charge dead on arrival,’ although...

WASHINGTON (Reuters) - ImClone Systems Inc. on Thursday won U.S. approval to sell cancer treatment Erbitux, the drug at the center of an insider-trading scandal that landed the company's founder in jail and put Martha Stewart on trial. The Food and Drug Administration said it had approved Erbitux for treating patients with advanced colon cancer that has spread to other parts of the body. Erbitux is the first commercial product for ImClone, whose image and share price were battered by a regulatory setback late in 2001 that led founder and former Chief Executive Sam Waksal to attempt to dump ImClone...

As Martha Stewart's trial moves into a third week, an important question remains unasked: Why are the feds prosecuting someone for receiving inside information, anyway? Isn't the criminal the corporate official who acts on knowledge that the public doesn't have? The government charges that on Dec. 27, 2001, Stewart learned from her broker that Samuel Waksal, the chief executive of ImClone Systems Inc., was trying to sell his stock because he knew that the Food and Drug Administration would announce an adverse decision the next day about his company's cancer drug, Erbitux. Stewart then sold her own 3,928 shares...

<p>NEW YORK (AP) — Martha Stewart was "very hurried and harsh and direct" in a call to ImClone Systems (IMCL)headquarters on the day she dumped her stock in the company, a former ImClone secretary testified Monday.</p> <p>Emily Perret, secretary to former ImClone CEO Sam Waksal, said Stewart asked her what was going on with ImClone stock. Perret said she answered that she did not know and would leave a message for Waksal to call Stewart back.</p>

<p>Who says the Swiss are cautious and boring? On Monday they moved decisively out of the neutral column on Erbitux, becoming the first nation on earth to approve the sale and marketing of the revolutionary new cancer drug.</p> <p>Expectations are that the United States and European Union will soon follow, or else watch as cancer refugees descend on Zurich and Geneva for what is obviously a safe and effective treatment. This is vindication for those who promoted the drug at and outside of ImClone, only to see its potential trampled in the media rush to condemn the stock sales of Martha Stewart and Sam Waksal. But any satisfaction is certainly tinged by the knowledge that the U.S. Food and Drug Administration passed up an opportunity to approve Erbitux nearly two years ago, and that tens of thousands of colorectal cancer victims have since died needlessly premature deaths.</p>

Her trial is next year, but Martha Stewart's empire has already begun a sentence of poor results, writes Simon English Anyone who thinks there is no such thing as bad publicity should consult Martha Stewart. It is 20 months since America's domestic goddess - think Delia Smith on rocket fuel - made a calamitous share trade that has ruined her life. Martha Stewart: her personal legal difficulties have had a catastrophic effect on the business she founded Since then she has faced a barrage of negative press that has driven her underground and which threatens the future of the business...

If Sam Waksal had read Atlas Shrugged, he may have walked free. In a memorable scene in Atlas Shrugged, Hank Rearden, a self-made steel magnate, sat, like Waksal, in a courtroom, on trial. Rearden, like Waksal,had violated the law. Rearden's crime had been to sell four thousand tons of Rearden Metal, his own creation and property, the result of ten years of his arduous labor, to a customer of his choice, in violation of a law that dictated what quantities and to whom he could sell. Rearden, like Waksal, had "cheated the law" and "broken the national regulations designed to...

Just hours after she was indicted, Martha Stewart launched MarthaTalks.com, a website aimed at bringing her side of the story to the masses in a controlled platform. Although the web is an amazing marketing and PR tool, it also shows how easilly it could backfire. Hours after the original site was published, someone registered the domain name MarthaStewartTalks.com & posted a rather unflattering parody of her original site. They are obviously counting on traffic meant for Martha's legitimate website & it seems to be working. The operators of the site claim to have had over 5 million visits, roughly a...

"The Perfect Country and Western Song"A lot of things happened last week that might seem worthy of discussion. Martha Stewart got indicted. Sam Waksal of ImClone was sentenced to seven years in jail (this week). The naughty bits of Hillary Clinton's autobiography leaked out a week early. Howell Raines and Gerald Boyd resigned from the New York Times. And the Israelis and Palestinians took tentative steps toward a hint of a beginning of peace. But there was another story last week of greater truth and enduring importance. Country Music Television (CMT) announced the top 100 country songs of all time....

The mother of all financial scandalsMichelle Malkin (archive) June 11, 2003 | Print | SendMartha Stewart is a too-easy target, an overstuffed pink pinata swinging in the wind, waiting to be thwacked by every last critic of capitalist excess. But the stock-dumping doyenne is no match for the real mother of all brewing financial scandals. That moniker belongs to the twin behemoths Fannie Mae and Freddie Mac.Who, you say? Unlike Martha, or the three-piece-suited villains of Enron or Tyco or WorldCom, Fannie Mae and Freddie Mac haven't been plastered all over the tabloids and prime-time TV. That's because they are...

<p>NEW YORK (CNN/Money) - Former ImClone Systems CEO Samuel Waksal was sentenced to just over seven years in federal prison and ordered to pay $4.3 million in fines and restitution Tuesday for his role in an insider trading scandal.</p> <p>Waksal, right, arrives at federal court Tuesday. Waksal, appearing before U.S. District Court Judge William Pauley in New York, became the first chief executive to be sentenced in the wave of scandals that have rocked corporate America over the past two years.</p>

JUST BREAKING!!! Imclone Founder gets 87 Months!!!

NEW YORK - Sam Waksal, the jet-setting drug-company entrepreneur at the center of the insider-trading scandal that has ensnared Martha Stewart (news - web sites), was sentenced to seven years and three months in prison Tuesday for what a judge called his "lawlessness and arrogance." The ImClone Systems founder was also ordered to pay nearly $4.3 million in fines and back taxes. "The harm that you wrought is truly incalculable," U.S. District Judge William H. Pauley said. He said Waksal had damaged his company, his family and investors nationwide. Waksal, 55, admitted last fall that he tipped his daughter, Aliza,...

<p>Two top people at scandal-scarred ImClone have been booted from their posts - including CEO Harlan Waksal, brother of the company's felonious founder.</p> <p>Harlan Waksal, 50, was tossed out as a result of the company's own probe of alleged tax-cheating over the way executives chased in options and warrants, the company said last night.</p>