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Martha Stewart - Internet article This paper will provide a brief summary of: Martha Stewart Sentenced To Prison Punishment Postponed As She Appeals Verdict By Brooke
announced that its partnership with Federated Department Stores will make an exclusive line of Martha Stewart home merchandise for Macy's. The biggest manufacturer
would be further satisfied by being able to purchase a Sears Craftsman tool set at Kmart and Kmart Martha Stewart home products at Sears. Unfortunately, the smaller
meant to reel in shoppers seeking an alternative to the traditional looks of the popular Martha Stewart collection. A contemporary color palette and funky patterns
meant to reel in shoppers seeking an alternative to the traditional looks of the popular Martha Stewart collection. A contemporary color palette and funky patterns
Submitted by stlouis_jumper on November 19, 2007
Category: Business
Words: 781 | Pages: 4
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This paper will provide a brief summary of:
Martha Stewart Sentenced To Prison
Punishment Postponed As She Appeals Verdict
By Brooke A. Masters
Washington Post Staff Writer
Saturday, July 17, 2004; Page A01
The paper also aims to relate the article to the assigned readings for the week. It gives an example of an ethics challenge which the authors former company, Ford Motor Company was involved in. The paper makes a recommendation to improve Ford and briefly provides a description of the 2002 Sarbanes-Oxley Act.
Article summary
The article provides an unbiased account of what Martha Stewart was accused of. Although the original charge was insider trading, she was convicted of obstructing a federal securities investigation. Basically she lied to government agencies and she was sentenced to five months in prison. Martha Stewart had unloaded 3,928 ImClone shares of stock. She dumped the stock because she was informed by the assistant to her broker, that that the owner of ImClone was trying to dump his stock. She basically got out while the getting was good. In doing so she was guilty of unethical behavior; however what really took her down was trying to cover the act up and lying. "Lying to government agencies during the course of an investigation is a very serious matter," said U.S. District Judge Miriam Goldman Cedarbaum, as she sentenced each defendant. "A term of incarceration is justified and appropriate in this case." The SEC is also seeking monetary damages and for Stewart to be barred from serving as director of a public company and her activities as an officer to be limited.
Insider trading is a grey area which companies need to take very seriously.
Sarbanes-Oxley Act
The issues of unethical behavior and lack of corporate social responsibility have become a compliance issue with the introduction of the Sarbanes-Oxley Act. The Sarbanes-Oxley Act makes corporate...
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