Word: martha
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Dates: during 2000-2009
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Near the peak of her company's success, Martha Stewart inadvertently summed up both the strength and the vulnerability of the empire she had built. At an advertising-industry conference in Detroit in 2001, she was speaking to a crowd of starstruck ad executives when somewhere in the crowd, a voice piped up with a fawning question. "Someone asked her, 'You dispense all this advice. Who taught you all these things? Who's your mentor?'" recalls Samir Husni, a magazine consultant who also spoke at the meeting. "She said, 'Me. Me. I did it all by myself...
That unyielding self-reliance helped build Martha Stewart the millionaire, but the future of Martha Stewart Living Omnimedia, the company, will depend on a very different kind of corporate chemistry now that its founder has been sentenced to serve time in prison for conspiracy, obstruction of justice and making false statements to federal investigators. It took 26 months and a bruising federal trial to break, if just for a moment, Stewart's stony resolve. She stood before Judge Miriam Cedarbaum last week in a lower-Manhattan courtroom, her voice faltering as she begged for leniency. "My hopes that my life...
...peak of her company's success, Martha Stewart inadvertently summed up both the strength and vulnerability of the media empire she had built. At an advertising-industry conference in Detroit in 2001, the lifestyle guru was fielding questions from a star-struck audience. "Someone asked her, 'You dispense all this advice?who taught you all these things? Who's your mentor?'" recalls Samir Husni, a magazine consultant who also spoke at the conference. "She said, 'Me. Me. I did it all by myself...
...That relentless self-reliance helped turn Stewart into a wealthy tycoon. But the future of Martha Stewart Living Omnimedia, the company she founded, will depend on a very different kind of corporate chemistry now that Stewart has been sentenced to serve prison time for conspiracy and obstruction after lying to federal investigators about a stock trade. Standing before Judge Miriam Cedarbaum last week in a courtroom in lower Manhattan, Stewart's voice faltered as she asked for leniency. "My hopes that my life will not be completely destroyed lie entirely in your competent and experienced and merciful hands," she said...
...Stewart plans to appeal her conviction and remains free on bail. But new Martha Stewart Living Omnimedia CEO Sharon Patrick must now figure out how to move the business forward with the company's iconic founder possibly heading behind bars. In the first quarter this year, sales dropped 23% to $44.5 million and the company suffered a loss of $20 million, so a reinvention of the brand looks increasingly urgent. Among other changes, the company's flagship magazine Martha Stewart Living?which saw ad revenue drop 54% in the first quarter?has already been redesigned and its back page, once...