Word: biotech
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After a shaky start, the government made strong headway last week in its attempt to prove that Stewart sold shares in the biotech firm ImClone Systems on the basis of privileged information and then lied to federal investigators about why she sold when she did. Faneuil is the government's key witness and his testimony could ultimately lay low the high priestess of housewares...
...morning of Dec. 27, 2001. Bacanovic, 41, was on vacation in Florida, and Faneuil had been left to man the office phones. He fielded a series of calls from family members of ImClone CEO Sam Waksal, also a Bacanovic client. They were eager to unload their shares in the biotech firm. Flustered, Faneuil called Bacanovic. When Faneuil told his boss about the Waksals, Bacanovic blurted out, "Oh, my God! Get Martha on the phone." Faneuil said he took this to mean his boss wanted to warn his prize client to sell her ImClone shares. But Bacanovic was only able...
...Franken Beer Ahead of E.U. rules requiring the labeling of GM foods from April, a Swedish brewer is testing consumers' stomachs for biotech produce with a lager brewed with GM corn from Germany...
...most sympathetic jury. In preparation for a Jan. 20 showdown with federal prosecutors in New York City, her legal team spent last week sifting through hundreds of 35-page juror questionnaires that probed such matters as whether people had ever purchased a Martha Stewart product or heard of the biotech firm ImClone. The fate of the domestic diva, who faces charges stemming from her sale of 3,928 ImClone shares shortly before the stock price plummeted in 2001, hinges on whether the jury sees her as a cover-up artist or as a victim of overzealous prosecutors. The good news...
...Stonyfield Farm, whose no-synthetic-hormone labels also carry language noting the FDA's approval of RBST. But Stanley Bennett, whose family built Oakhurst from a two-horse outfit in 1921 into an $85 million modern processor, says he won't be "bullied" by the $4.7 billion biotech behemoth. "We are in the business of marketing milk," he says, "not Monsanto's drugs...