Trading Scandal

Trading Scandal

Introduction

Martha Stewart is a renowned personality which falls in few business hotshots who still has extensive popularity even after highly exposed scandal. Martha Stewart is a founder and had been the CEO of Martha Stewart living Omnimedia. It is her company which has the best interests in merchandizing, publishing, electronic commerce and broad casting. At the time of 2000s, the most limelight personality came on to screen with the center of headlines and ultimately her stock trading came into the investigation of Federal government. The charged was imposed on Martha Stewart that she was involve in ImClone insider trading that she sold out all her shares before the prices of firm plunged. It was the time when she found accountable of four counts of hindrance of justice and lied to the persons who were investigating the case. She sent to the prison for the trading scandal and after her release from there she made herself involved in different projects, such as reality television, magazine and branded objects. All these initials somehow saved Martha Stewart Living Omnimedia. She started involving herself in short lived media shows which became the best asset to get back the same popularity as she previously had before the scandal. Although, she was banned from acting for the time of five years but undoubtedly she continued to control her company from the financial crisis of 50% stock and around 90% of voting stock. It is usually observed that business people serve there almost half of their life to get back the same reputation and trust of the corporate sector. Even after the great misconduct in business, Martha still remains adored to her devoted fans.

Discussion

The great career of Martha Stewart includes business owner caterer, home living and expert stockbroker. It is great to observe that all her occupation is linked to her passion. In the childhood, she developed her zeal for gardening, cooking, home keeping and cooking, which later on helped her out in portraying her passion in the form of business. Her basis was reinforced by her mother, including her father, who introduced Martha to the way of gardening. Martha Stewart married to Andrew Stewart in the college time and after getting into marital relationship, she had a title of successful stockbroker. But here her journey of passion does not end; she finally left the business of stock brokering and opened a food shop named gourmet, which was later on became the business of catering in Westport, Connecticut. She gave the shape of delicious food by producing stylish recipes and presentation, which eventually makes her catering business different from other catering services. The great presentation of Martha recipes became the publishing of her book which was the best selling at its time.

The warned scandal was basically linked with Imclone System. It is a biopharmaceutical company where Martha owned stock. She sold her forty thousand shares on 27- December just a day before the Food and Drug Administration rejected to appraise cancer drug Erbitux of ImClone ...