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The scandal around Martha Stewart Martha Stewart is one of the most popular women in the United States. According to the official ratings she concedes only to the Madonna and Britney Spears, but she left behind many other pop-princesses and politicians like Hillary Clinton. That is why the scandal which has inflamed around a national icon" as this woman called in America, is very grandiose. March Stewart teaches Americans to live. The slim 60 -years old blonde, a sample of elegance and the refined taste, she trains her compatriots how to prepare salad or a pie with apples from the screen of TV. From the pages of her own magazine Martha gives advices about what curtains are required for this or that interior.
The author of 40 books, she has told to America in details about the best way to arrange a Christmas banquet, what is necessary to prepare for wedding, what roses and begonias to grow in a garden. Probably in the whole world there is no other woman who could give advice about everything, both about decoration of the house, and life style. Born in the family of poor Poles-immigrants from New Jersey, she built the whole empire approximately 250 million dollars in cost that was called by biographers as Martha incorporated." And now the main legislator of the way of life in America became the central figure of grandiose scandal. March Stewart is accused of insider trading. It means that she made operations with securities on the basis of the internal information of the company.
Martha had large share holding in biopharmaceutical firm Im Clone. The company developed a new product against cancer that was not allowed by the government. If the product were allowed the shares could bring much profit. Lawyers got to know that Martha, having received this information from the president of the company, hasty sold her four thousands shares and received 228 thousand dollars. Next day the same shares would cost no more 40 thousand dollars. It is a classical example of inside trading which is severely punished by the USA laws.
While the case of Martha Stewart has been considered, the situation in her own company Martha Stewart Living Omnimedia became difficult. This is clearly described in the article published in BusinessWeek Online on May 19, 2003 Martha: Under a Cloud Long Enough. The article is written mostly for investors, employers and also consumers of Martha Stewart Living Omnimedia. The delay in justice has proved to be an injustice in itself, not just for Stewart but for her employees and investors The cost of shares of the company Martha Stewart Living Omnimedia fell.
Lawyers threatened to conduct a scrupulous investigation of Marthas communication with the president of Im Clone and check of all phone calls which she has made from a board of the private plane to the Bill, and also to her broker Merrill Lynch. After scandal has inflamed, he has been dismissed from work. The investigation considered him as a main witness on the case of Martha Stewart illegal trading. The company remained without leaders and began to degrade. In the article the care is taken about the shareholders, employers and investors of Martha Stewart Living Omnimedia who called innocent people whose interests should be considered.
But still their interests could not be considered while Martha is kept in the courthouse. Many people are suffering and the government is taking care about the welfare of the country keeping the favourite household-advice in the court for too long. Of course here we see the collision of interests, that cant be solved so easy. Having accused Martha Stewart in one crime, the government is committing the other, putting the people under threat of remaining without job and loosing money. The government doesnt care whom it accuses of the getting money using so illegal method and risking the own life. The defenders of Martha Stewart say that it is impossible that so rich women could risk her life to gain a profit that cant be even compared to what she already has.
In reply to that the opponents of Stewart give the explanation of that in the last her biography, where they called the woman the greedy person who betrayed all relatives to get the money she has and build her empire." In this life everyone should act extremely according to her rules. As a proof of that statement they provided the following: near to her private residence in New York there is a tablet ordering to all nearest neighbors to follow only one direction not to crumple an evergreen lawn. Of course all this sounds unpersuasive for the defenders of Martha, among which there are a lot of her consumers, who are pleased with the products and books she launches and feel very grateful to her. They even come up with the idea that all this case is arranged deliberately by Martha competitors. Feminists even state that it was done against all women who organized their own successful business. Maybe it is so but it will not help Martha, her employers, consumers and investors to save businesses.
In the article the authors do not provide the idea how to solve the situation. Maybe, with the help of Martha Stewart case the government will manage to open the people eyes on the economic crimes, which often seem harmless, but the harm is still big. But by means of that the legal powers spoiled the reputation of popular and appreciated woman, her multimedia empire and all the people, connected with it. As for me I come up with the idea that Martha still should be charged for the crime at once and allowed to keep ruling her company, because all the actions of the government seem to be directed to its destruction.
Bibliography: 1. BusinessWeek Online on May 19, 2003 Martha: Under a Cloud Long Enough. web 2. John Small Save Martha Stewart web 3. Ashley Smith Full Biography of Martha Stewart, New York 2003
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Research essay sample on The Scandal Around Martha Stewart
