Martha Stewart's trial-> Broke the law to save $51,000?

[JEDI]

I read somewhere that Martha only gained $51,000 from the insider stock tip that caused this scandal?

If that's true, she risked all this for profitting only an additional ~.1% in the multimillion $ sale. If you commit a crime, make it worth the time .1% aint worth it, imo

 

[mflacy]

So, you are saying she wouldn't have LOST any money if she kept the stock and sold it after the bad news about the company was released?

EDIT: I looked it up. Imclone fell to about 18 bucks a share soon after her sale. If she kept them, she would have lost about $100,000 by early January. The stock has never returned above her $60 sale price since then.

 

[JEDI]

she's worth MAJOR $. she broke the law to save some chump change.

it's like you're making $75k/year and get caught shoplifting a sweater.

 

[melly]

Unbelievable. But I guess that's how the rich *stay* rich, right?

 

[BCYL]

Yes, she broke the law to save a minimal amount of money (compared to what she's worth)... But then again money is money...

 

[Stifko]

I read that she saved around $160,000 which is still a mere bag of shells by her standards. She is a greedy money-grubber and I hope that they nail her to a cross.

 

[OutHouse]

Originally posted by: Stifko
I read that she saved around $160,000 which is still a mere bag of shells by her standards. She is a greedy money-grubber and I hope that they nail her to a cross.

yip i read that as well, dont remember where.

 

[gistech1978]

Originally posted by: BCYL
Yes, she broke the law to save a minimal amount of money (compared to what she's worth)... But then again money is money...

and laws are laws
serves her right for being so greedy imho.
she knew exactly what she did.

 

[CubicZirconia]

She obviously didn't think she would get caught.

 

[Ranger X]

Some of the richest people are also the cheapest people in this world. It doesn't surprise me as she probably did this (like all criminals) without thinking about the consequences.

Remember when one Yankee player stole Jeter's bat so that he can sell it? Well he lost his contract over that bat he stole.

 

[desy]

Uhm
Innocent til proven guilty folks.
I wasn't aware any of you are on the jury?

 

[EXman]

honestley she has already lost the war this little battle is just that little...

 

[BCYL]

Originally posted by: gistech1978

Originally posted by: BCYL
Yes, she broke the law to save a minimal amount of money (compared to what she's worth)... But then again money is money...

and laws are laws
serves her right for being so greedy imho.
she knew exactly what she did.

I totally agree. I hope she goes to jail for this... but then again the jail sentence probably wouldn't be very long (if she goes at all), and afterwards she still has all that money to fall back on that she won't have to work another day of her life...

 

[Ryan]

Originally posted by: gistech1978

Originally posted by: BCYL
Yes, she broke the law to save a minimal amount of money (compared to what she's worth)... But then again money is money...

and laws are laws
serves her right for being so greedy imho.
she knew exactly what she did.

And due process is still due process. She's innocent until proven guilty - I don't knwo why everything is so quick to judge that she is when none of you know any real facts about the case.

 

[Spencer278]

Originally posted by: desy
Uhm
Innocent til proven guilty folks.
I wasn't aware any of you are on the jury?

Because we are not on the jury it really doesn't matter if we say she is guilty or not guilty so why don't you just STFU unless you have some thing more inteligent to add.

 

[desy]

The intelligent thing IS not to wildly speculate without the facts or baseless telling people to STFU
Your wisdom is inspiring
Bravo!

 

[Amorphus]

losing ~100k by keeping ImClone, or losing several mil by lost revenue and legal fees?

still not a wise choice, but foresight comes at a premium.

besides, 50k is still 50k, even if you're rich.

 

[Vic]

Originally posted by: Spencer278

Originally posted by: desy
Uhm
Innocent til proven guilty folks.
I wasn't aware any of you are on the jury?

Because we are not on the jury it really doesn't matter if we say she is guilty or not guilty so why don't you just STFU unless you have some thing more inteligent to add.

Gee... I missed out on where you added anything intelligent.

Or did Desy rain on your little witch-hunt parade?

 

[WinkOsmosis]

Originally posted by: desy
Uhm
Innocent til proven guilty folks.
I wasn't aware any of you are on the jury?

Would you hesitate to declare that Saddam Hussein is guilty? He hasn't been tried yet.

 

[Ryan]

Originally posted by: WinkOsmosis

Originally posted by: desy
Uhm
Innocent til proven guilty folks.
I wasn't aware any of you are on the jury?

Would you hesitate to declare that Saddam Hussein is guilty? He hasn't been tried yet.

Saddam isn't a US citizen, so he is not afforded the rights that a US citizen has.

 

[desy]

I'm not to sure what Sadaam is charged with?
So guilty of what then ? Most likely the burdon of proof will be on a world court which in all likelyhood shouldn't be too hard to prove.
Some of the pre-trial articles I've read on Martha , charges are graspy at best esp if consider the stunts Enron, World com , Arthur Anderson et al got away with!!
We are all guilty of something, even if its as simple as speeding
A nice biased site for you !

 

[Squisher]

As much as I think she is guilty, going to jail seems a little out of line considering the recent offenses of some corporate officials that saw no jail time. Kenneth Lay comes to mind.

Also, she is not being charged with insider trading.

She is being charged with professing her innocence to the crime and thereby defrauding other investors of information that she had of her guilt.

 

[preCRT]

But greedy ole Martha thought It's a good thing

 

[AvesPKS]

I thought she wasn't in trouble for insider trading, just purjuring herself?

 

[AndrewPaulNet]

Why does everyone hate Martha so?

It's like Oprah...she has her die hard fans, and then her HATERS.

Anyhow - my real question is ..... could someone explain this stock business to me? A 'Stock brokerage for Dummies' or something? Never been interested in the science or politics of finance until now.....

Why is what she did so bad? I sorta kinda understand the 'essence' - like selling a car that you know is a lemon?

What I don't understand is, why was it illegal to get information from someone who knew? Is'n't that like, the epitomy of the very core of Capitalism?

BAH....

Please explain, someone.

And I'm for real on this - I don't know - so please bear with me on this. I REALLY want to understand, and I think I will from people on here rather than websites on the subject.