Word: martha
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...peak of her company's success, Martha Stewart inadvertently summed up both the strength and vulnerability of the media empire she had built. At an advertising-industry conference in Detroit in 2001, the lifestyle guru was fielding questions from a star-struck audience. "Someone asked her, 'You dispense all this advice?who taught you all these things? Who's your mentor?'" recalls Samir Husni, a magazine consultant who also spoke at the conference. "She said, 'Me. Me. I did it all by myself...
...That relentless self-reliance helped turn Stewart into a wealthy tycoon. But the future of Martha Stewart Living Omnimedia, the company she founded, will depend on a very different kind of corporate chemistry now that Stewart has been sentenced to serve prison time for conspiracy and obstruction after lying to federal investigators about a stock trade. Standing before Judge Miriam Cedarbaum last week in a courtroom in lower Manhattan, Stewart's voice faltered as she asked for leniency. "My hopes that my life will not be completely destroyed lie entirely in your competent and experienced and merciful hands," she said...
...Stewart plans to appeal her conviction and remains free on bail. But new Martha Stewart Living Omnimedia CEO Sharon Patrick must now figure out how to move the business forward with the company's iconic founder possibly heading behind bars. In the first quarter this year, sales dropped 23% to $44.5 million and the company suffered a loss of $20 million, so a reinvention of the brand looks increasingly urgent. Among other changes, the company's flagship magazine Martha Stewart Living?which saw ad revenue drop 54% in the first quarter?has already been redesigned and its back page, once...
...Later that day, he sent another adding: ?Yeah they based their indictment on Sue's f___ed up report.? In yet another message on Feb. 19 he confessed, ?Were (sic) going to lose this case big time.? But the government didn?t lose. Martha Stewart and Baconovic were convicted in March of lying to federal investigators about why she sold her shares of biotech firm ImClone Systems. They said there was a pre-existing arrangement to sell if the stock price hit $60. But prosecutors said she sold because Baconovic gave her a tip that ImClone CEO Sam Waksal...
...Ironically, though Larry Stewart was brought in by the government to prove the allegation that Martha and Bacanovic lied about the pre-existing arrangement, the charge of creating a false document against Baconovic was the only one the jury didn?t convict on. But Martha's lawyers argue that Larry Stewart's testimony influenced the verdict. Last Thursday, judge Miriam Goldman Cedarbaum denied the motion and with it the defendants? last and best chance. Now, their only hope is an appeal...