Memo to Martha Stewart, CEO of Martha Stewart Omnimedia...

Memo to Martha Stewart, CEO of Martha Stewart Omnimedia Dear Ms. Stewart, I am writing to address some concerns I have about the future of your company, Martha Stewart Omnimedia (MSO). Perhaps the one issue that you are grappling with at present is about the Imclone scandal. You have been accused of selling $227,000 worth of Imclone stock based on inside information. Because of these charges of insider trading, your critics have summarily associated you with other disgraced company directors: Kenneth Lay of Enron and Bernard Ebbers of WorldCom. But the strange thing about your case is that while other CEOs have been charged for making use of their own companies to gain profit for themselves, you, on the other hand, have not†¦show more content†¦However, it is perhaps not entirely right to say that your actions, or what you have been accused of, have nothing to do with MSO. Joan Didion, in her essay â€Å"Everywoman.com,† suggests how your reputation is integral to MSO, and she quotes from MSO’s 1999 prospectus: â€Å"Our (MSOâ€℠¢s) business would be adversely affected if Martha Stewart’s public image or reputation were to be tarnished† (146). Indeed, a New York Times article by Constance L. Hays, dated 1 May 2003, reports that MSO’s â€Å"total revenue fell 14.6 percent in the first quarter† and that â€Å"the share price, battered after Ms. Stewart’s name surfaced in connection with the ImClone insider-trading investigation last summer, fell another 11.3 percent.† One could argue that MSO’s poor performance is necessarily due to the difficult state of the economy at present, but according to MSO’s accounts, your company was in fact posting growing revenue figures until you were implicated in the Imclone scandal. So as you can see, your public image is closely intertwined with the survival and prosperity of MSO. Your actions do indeed affect your stakeholders. Your public image has alwaysShow MoreRelatedMartha Stewart s Reputation Of Being A Successful Entrepreneur1758 Words   |  8 Pages Martha Stewart was mostly known for her television shows, magazines, and books. Martha Stewart, Inc., which the company name later changed to Martha Stewart Living Omnimedia, helped her reach her celebrity status of being on of â€Å"50 Most Powerful Women,† according to Fortune. In 2002, her reputation of being a successful businesswoman took a plunge when rumors leaked regarding her involvement of insider trading of ImClone stocks. She took part in selling her ImClone stock after hearing news ofRead MoreHbr When Your Core Business Is Dying74686 Words   |  299 Pagestrademark of Chevron Corporation The CHEVRON HALLMARK and HUMAN ENERGY are trademarks of Chevron Corporation  ©2006 Chevron Corporation A l rights reserved APRIL 2007 Features 58 What Your Leader Expects of You Larry Bossidy A longtime CEO reveals the behaviors that leaders should look for in their subordinates – behaviors that drive individual as well as corporate performance and growth – and what those subordinates should expect in return. 58 66 Finding Your Next Core Business