MARTHA
-
CinnamonGirl
- Administrator
- Posts: 1851
- Joined: 22-10-03, 3:36 pm
GEEEEZZZZZZ, you folks have been quite busy in this thread! 
Alright, I see I have been requested to clear up a few things.....you guys do have alot of correct info and some wrong info.....that's ok.
1# 700 Billion shares were not sold that day....more like 700 million would be an accurate figure. There are not billions of shares out there for sale generally in any give public company and there are very few investors who own billions of shares of any one company. Basically because it is a VERY BAD idea to hold that many of your eggs in any one basket.
2# Martha did get a tip from the CEO of Imclone, Sam Waskal, that the co. was not going to be getting the FDA approval for a new cancer drug Erbitux,i t was manufacturing...this was told to her the day before the news was to be made public. Waskal put himself into more trouble than Martha and was charged with and convicted of conspiracy to commit securities fraud and wire fraud, seven counts of securities fraud, one count of conspiracy to commit perjury and to obstruct justice.
3# Martha sold approx. 2400 shares of Imclone with a value of approx. $60,000. Martha put herself in the spotlight not only because she is a celebrity figure, but also because she was the CEO of Martha Stewart Living Co. Being a high ranking officer in any company puts your trading activity under more scrutinity than the average investor.
4# Martha and her broker, Peter Bacanovic, were not charged with Insider Trading but with a number of other charges due to not-so-air-tight evidence on the insider trading. They WERE charged with and convicted of conspiracy, making false statements, perjury and obstruction of justice.
5# Insider Trading gones on EVERYDAY and usually does not make the "public" news......we hear about these things more in my industry.
6# ALL high ranking officers of any publicly traded company must make there trading practices known...this is a SEC Compliance law and is very strict. If a CEO or even a Vice President of a public company decides that they would like to sell X# of shares of the company that they work for, it is immediately made public to all other investors. This is done to keep a company's officers from gaining an unfair trading advantage against other investors if by chance they have inside information.
I do not believe that Martha received a fair sentence but I do believe that a 30 yr. sentence would have been too harsh.
She had been forced to step-down as CEO of her company in order to keep the company from suffering any further damage. I do not believe that K-Mart will suffer any further damage due to her jail sentence.
Martha has die-hard fans and people who love her products. BTW, she publishes 5 magazines...lol.
Gee, I can't remember what else was stated or asked of me....lol.
I will have to look back later.
Alright, I see I have been requested to clear up a few things.....you guys do have alot of correct info and some wrong info.....that's ok.
no no noThere were more than 700 billion stocks sold that day, C-Dub.. they weren't all HERS..
and did she not follow the advice of someone else to sell those stocks?
1. she got 'advice' from the ceo (her friend) to sell because it would drop in price
2. wallstreet was WAITING for the results of the gov if it would approve that product they were making ... ready to BUY or SELL within SECONDS of finding out
3. she sold, note: MILLIONS, of shares BEFORE this news hit ... (if you were a wallstreet trader wouldnt that be a HUGE RED FLAG?)
4. if someone suddenly dumps millions of shares ... the price PLUMMETS ... if others are selling ... you have to sell quicker!
her selling = others selling!
1# 700 Billion shares were not sold that day....more like 700 million would be an accurate figure. There are not billions of shares out there for sale generally in any give public company and there are very few investors who own billions of shares of any one company. Basically because it is a VERY BAD idea to hold that many of your eggs in any one basket.
2# Martha did get a tip from the CEO of Imclone, Sam Waskal, that the co. was not going to be getting the FDA approval for a new cancer drug Erbitux,i t was manufacturing...this was told to her the day before the news was to be made public. Waskal put himself into more trouble than Martha and was charged with and convicted of conspiracy to commit securities fraud and wire fraud, seven counts of securities fraud, one count of conspiracy to commit perjury and to obstruct justice.
3# Martha sold approx. 2400 shares of Imclone with a value of approx. $60,000. Martha put herself in the spotlight not only because she is a celebrity figure, but also because she was the CEO of Martha Stewart Living Co. Being a high ranking officer in any company puts your trading activity under more scrutinity than the average investor.
4# Martha and her broker, Peter Bacanovic, were not charged with Insider Trading but with a number of other charges due to not-so-air-tight evidence on the insider trading. They WERE charged with and convicted of conspiracy, making false statements, perjury and obstruction of justice.
5# Insider Trading gones on EVERYDAY and usually does not make the "public" news......we hear about these things more in my industry.
6# ALL high ranking officers of any publicly traded company must make there trading practices known...this is a SEC Compliance law and is very strict. If a CEO or even a Vice President of a public company decides that they would like to sell X# of shares of the company that they work for, it is immediately made public to all other investors. This is done to keep a company's officers from gaining an unfair trading advantage against other investors if by chance they have inside information.
I do not believe that Martha received a fair sentence but I do believe that a 30 yr. sentence would have been too harsh.
She had been forced to step-down as CEO of her company in order to keep the company from suffering any further damage. I do not believe that K-Mart will suffer any further damage due to her jail sentence.
Martha has die-hard fans and people who love her products. BTW, she publishes 5 magazines...lol.
Gee, I can't remember what else was stated or asked of me....lol.
I will have to look back later.
-
.:VerTiGo:.
- I HAVE no life
- Posts: 4729
- Joined: 22-10-03, 3:25 pm
FINALLY!! Some correct answers!! 
-
CinnamonGirl
- Administrator
- Posts: 1851
- Joined: 22-10-03, 3:36 pm
Lol I guess it's how you see it..some people think Bush lied to Americans about WMDs and some think he didn't. I guess that's why they haven't tried impeaching him..or haven't bothered since the elections are in Novemeber.
[size=84][i]"One who knows nothing can understand nothing." Ansem~Kingdom Hearts
"Pray to me that they don't... pray to me anyway..." ~Eternal Darkness
"Are you trying to fight me... Or entertain me, Little One?" ~Eternal Darkness[/i][/size]
"Pray to me that they don't... pray to me anyway..." ~Eternal Darkness
"Are you trying to fight me... Or entertain me, Little One?" ~Eternal Darkness[/i][/size]
-
Night_Angel
- Im a Voidaholic
- Posts: 772
- Joined: 06-05-04, 8:34 pm
who cares if clinton got his dick sucked and lied, he had every right to get a BJ, he had a stressful job and hillary probably wasn't giving him head. at least he isn't a money grubbing bastard like Dubya. i have a feeling that bush is only looking at the war in Iraq as a way to control oil better and up his money supply without worrying about our troops dying over there for his bank account. he picked up right where his father left off in the war, he picked up right where desert storm ended...too bad fathers, sons, brothers, and husbands had to die so that he could be richer1st.. Bush has not been tried or convicted of lying under testimony. Clinton WAS.And Bush gets to be dictator.
2nd.. Bush is HARDLY a dictator, just a president you don't like.
[size=][i]"They think, but they don't know. If they knew, I'd already be dead." - Carlito Brigante : Carlito's Way[/i]
[i]"You're all a bunch of fuckin' assholes, you know why? 'Cause you don't have the guts to be what you wanna be." - Tony Montana : Scarface[/i][/size]
[i]"You're all a bunch of fuckin' assholes, you know why? 'Cause you don't have the guts to be what you wanna be." - Tony Montana : Scarface[/i][/size]
