Free At Last?

Shortly after midnight last night, Martha Stewart received her "get out of jail free" card.  In a scene straight out of a Bruce Willis movie, Martha left the prison in an entourage of of dark-windowed SUVs and boarded a private jet to take her to her $16 million New York estate.  Actually, she didn't get out of jail free; she's paid dearly during her five month incarceration. Martha lost more than weight during her stay at the Alderson prison. 

Martha lost her position as CEO of Martha Stewart Living Omnimedia, Inc.  When she returns to work, Martha will have the title of "founder." While she could technically reassume the chief executive officer gig, legal experts say this probably won't happen; the SEC still has some unfinished business with Martha.  She still faces an SEC civil suit that seeks to bar her for life from serving as a director at a public company and limit her ability to serve as an officer.

Martha's company also lost.  Martha Stewart Omnimedia reported a fourth-quarter loss of $7.3 million and predicted an even larger loss for the first quarter of this year.  Even though the stock is up nearly 300% since it hit a post-conviction low of $8.55 per share on May 19, 2004, financial analysts say that there is almost no hope the company can grow earnings fast enough to support the current stock price. The stock price has doubled since Stewart began her stint at "Camp Cupcake."  Just hours after Martha was released, MSO stock opened at $35.20 per share. 

Martha has lost some of her constitutional rights.  As with all other convicted felons, Martha has lost her right to vote.  (Note to 2008 Presidential election candidates: don't ask Martha to campaign for you.  I'm pretty sure she'll turn you down.)  Martha has also lost the right to own a gun.  Martha's ImClone discretion has cost her the right to pack heat. 

Don't feel too sorry for Martha.  Even though she has five months of home incarceration to perform, and then probation, she's doing pretty good for herself.  During her five months behind bars, Martha's net worth jumped up by about half a billion dollars.  No, that wasn't a typographical error.  She gained over $480 million while she was in the big house. 

I've been a Martha fan for years - I admire all she's accomplished as a business woman. I wish her nothing but the best of luck in her new "Apprentice" show and in her new talk show.  I'd love to be a guest on either one.  Yes, what Martha did was wrong; she lied, was convicted and has served prison time for it.  After he was found innocent, Mel Ignatow admitted to the brutal torture and murder of Brenda Sue Schaeffer, but our Constitution says he can't be tried again for the same crime. That comes from the same set of laws that made Martha Stewart Martha do prison time for something that our government leaders, politicians, celebrities and sports figures do all the time. There is no justice in our justice system.

Good luck, Martha.  I wish you all the best.