What is the fate of stockholders in the Martha Stewart Living Omnimedia Corporation? Martha Stewart, the driving force behind the corporation that sports her name, has been under scrutiny since June 4, 2003, due to her indictment on security fraud and obstruction of justice. The legal attention has not only affected Ms. Stewart's reputation but has sent the corporation's stock holding into a cycle of uncertainty. .
Martha Stewart, a one-time broker with the New York Stock Exchange, built an empire with her ability to transform a simple home into a showcase for entertaining and an elegant way of life. Starting off in 1973 with a catering business from her recently purchased Connecticut farm home, Martha Stewart began what would be one of the best adventures that the land of opportunity had to offer. .
In 1982, after just nine years in the catering business, Martha Stewart publishes her first book titled "Entertaining." The book's success results in a contract between Martha Stewart and K-Mart. The contract had Martha serving as a consultant and spokeswomen for K-mart under this new collaboration. In 1990, Martha launches her magazine, "Martha Stewart Living," in a deal with Time Warner, and three years later her weekly television series with the same name debut. By 1999, the corporation's growth allows for shares in Omnimedia to go public on the New York Stock Exchange. With this success Martha Stewart's name becomes synonymous with home entertaining/decorating and copycat entrepreneurs start popping up on televisions and newsstands.
The Martha Stewart Living Omnimedia Corporation continues to grow into a multi faceted corporation that publishes magazines and books such as Martha Stewart Living, Martha Stewart Weddings, cooking, home entertainment and crafts. It expands it television exposure with featured segments for CBS and an hour long Martha Stewart Living Program. It also creates a line of merchandise that includes home and garden products.