Martha welcome to OZ - Striper Talk Striped Bass Fishing, Surfcasting, Boating

fishsmith · 03-05-2004, 04:02 PM

from the globes breaking news:
A N.Y. jury has found Martha Stewart guilty of all four charges against her: Two counts of lying to the government, conspiracy, and obstruction of justice. The verdicts probably mean that Stewart will go to prison.

BigFish · 03-05-2004, 04:07 PM

Good...once in awhile it is nice to know that these high profile/rich SOB's are not above the law!!! Still don't think she will see any jail time AT ALL! You heard it here folks!

BigFish · 03-05-2004, 04:12 PM

See.....they just said it on the news!! "She is a first time offender" they go on to say she will most likely get probation, at the outside a couple years in a "country club"!!!!!!!!!!

fishsmith · 03-05-2004, 04:14 PM

It's a very good thing.

RIJIMMY · 03-05-2004, 04:18 PM

I honestly think the case against her was crap. The govt. tried to get her for insider trading, they had no eveidence. Then they bring obscruction of justice and securities fraud charges against her. Then...no evidence of securities fraud,,,,so they get her for obstructiuon of justice. All she did was lie when they asked her why she sold the shares. How many of you say "Yes officer, I was speeding" when you're pulled over?
Its all govt. crap, some lawyers trying to make a name for themselves. She should get a $5000 fine and thats all.

BigFish · 03-05-2004, 04:23 PM

RIJimmy....I said "Yes officer I was speeding" once......had me dead to rights and I knew it!

Gave me a warning.......she should have been a little more forthcoming and I believe they would have been a little easier on the lying, cheating, conniving beyotch! (Hey, they just said the exact same thing on television).

BigFish · 03-05-2004, 04:33 PM

I just heard that the Govt. has filed charges against Martha Stewart for selling off all of her stock in her company yesterday knowing full well that a guilty verdict would cause her stock to drop like a rock!!!

Can't wait to see how that trial comes out!

For those of you who think I am serious....that was a joke!

Backbeach Jake · 03-05-2004, 06:04 PM

If my broker told me to dump that stock or you'll lose a ton of money, I'd do just what she did. I think most people would. I can't think of anyone who had that info who would hold on and take a bath. The case is BS. Crucify those bastards who took all those .coms for a toilet ride after freezing employee stock and selling their own.

BigFish · 03-05-2004, 06:36 PM

Realize Backbeach that we are talking about a potential loss of I think they said $40,000 dollars. Drop in the bucket for the domestic diva aka beyotch......instead she rolls the dice, knowingly breaks the law and cost herself, oh lets see.....for starters millions upon millions of dollars, her reputation is no longer worth a bucket of pencil shavings and she might do time in jail.........

.....I guess that is the way I would have gone.....NOT!!!!

She should have taken the hit for cryin' out loud.....you know the old sayin'...(you wanna play you gotta pay).

By the way....they did crucify those .com folks!

Backbeach Jake · 03-05-2004, 08:26 PM

After a close look at your version of the scales, I concur, Bigfish.

RIJIMMY · 03-05-2004, 08:34 PM

It was not against the law for Martha to sell those shares based on a call from her broker. Rememebr, there were no charges on insider trading or securities fraud. None. The law she broke was lying why she sold. Big deal. This was not a corporate scandal but its all Hollywood hype and media BS.
Not only did Martha lose millions, so did common honest shareholders who invested in her company. Seen Kmarts stock lately? The government charging Martha has hurt the average person more than the effect of her crime.

Mike P · 03-05-2004, 09:26 PM

Quote:

Originally posted by RIJIMMY
It was not against the law for Martha to sell those shares based on a call from her broker. Rememebr, there were no charges on insider trading or securities fraud. None. The law she broke was lying why she sold.

Exactly---and she was an idiot for not seeking legal advice before she went down to talk to the regulators

Just another in a long line of morons who talked their way into jail, not out of it

BigFish · 03-05-2004, 11:06 PM

Don't kid yourself RIJimmy....she knew Sam Waxel (correct spelling) was dumping his and she followed suit....call it what you want it is insider trading, securities fraud, etc. etc. She broke the law and it cost her alot more than she stood to lose by hanging on to that stock and taking the hit, she played and she paid.

Iwannakeeper · 03-09-2004, 03:46 PM

I am with Big Fish on this one. she knew exactly what she was doing. She was a stock broker back in the day. she knew the risks. And from some of the testimony this is not the first time or only attempt at skirting the edge of the law with stock transactions.

I think BigFish may have actually doubled the amount of the savings. I thought she only had $20,000 to loose.

After she committ the crime, her and her girlfriends joked about it while spending thousands at a spa getting treatments.

She is a ruthless business person who's TV persona has influenced people to root for her, and be sympathetic to her.

I say she should do a little hard time, a year or two..then a couple years at a country club before getting back on the streets.

Iwannakeeper · 03-09-2004, 04:00 PM

RIJimmy - KMART stock (KMRT). has only gone up during the martha fiasco.

May 03 - $15.00/share

December 30th - about $22.50/share

Today trading around $34.50/share

there was a small market panic hiccup on 3/5 where it shot to $34 and down to around $32 - and is back up to $34.50

KMART is not suffering any injury in stock due to Martha's illegal activities.

And anyone watching martha's stock (MSO) had a great opportunity over the last 6 months to pick up $4 a share until yesterday when the bottom fell out and returned to $10 a share still a $1 more a share than it was in October.

Her stock has been on a rocket ride downward since her dec '99 offering. Starting at $40 in Jan '00 it was already down $25. Jan 01 $20 Jan 02 $18. Then a plummet to almost zero at the end of '02.

So - I do not see how John Q. Public is being punished by Martha's stupidity and greed. I do see how her company could potentially flounder and ultimately fail since she can no longer run her publicly traded company as a felon. but to hell with it, let someone else run it and everyone keeps their jobs.

BigFish · 03-09-2004, 04:29 PM

It was in fact a total of $51,000 dollars that she stood to lose.....see what greed can do....they said Friday night when she went to bed she was worth $330,000,000 dollars and as of yesterday she was worth $80,000,000 dollars!!!

How far the greedy fall!