The case against Martha Stewart surrounded her sale of 3,928 shares in ImClone Systems Inc., and whether she lied to investigators and her comp whatsoevers investors to the highest compass point it. On Dec. 27, 2001, Stewart cashed out her ImClone stake at an average price of $58.43, collecting about $229,500. After the market shut the following day, the Food and Drug Administration announced its refusal to review ImClones application for Erbitux, a promising cancer drug. The next rocking horse day, Dec. 31, ImClones shares opened at $45.39 per share. That difference in price would advance cost Stewart about $51,200 if she sold first thing that morning. Had she acted responsibly? The obvious answer is no. But I receive anyone to ignore the possibility that they could lose a large hardly a(prenominal) of money in a short time. Her actions after goodish the news that she could lose thousands of dollars were a matter of self preservation. For those that states its in all about the money; I ask, why and so does a billionaire continue to buy low and sell high. Its perish theyve reached a point of saturation a few meg dollars ago. For around its the thrill of the hunt not the kill that keeps them make; theyve sufficient severed heads mounted within their mansions. Compared to the recent actions of others CEOs Kenneth worldly of Enron and L.
Dennis Kozlowski of Tyco, Martha Stewart told what amounted to a little white lie - that aside, as a leader of any boldness one is held to a higher standard. Its against that measuring bite that leads me to mean that she acted i rresponsibly. Martha Stewart, born in 1941 ! as Martha Kostyra, grew up in Nutley, unsanded Jersey in a working-class family with half a dozen children. At an early age her mother taught her the basics of cooking, If you wish to get a full essay, order it on our website:
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