good morning
I saw it at the weekend Martha Stewart Documentary good Netflix – what he hates. I was surprised to hear my voice – presumably ripped from a previous documentary or news report – doing some voice-over parts near the beginning. (The producers didn’t credit me, the same way the producers do Pop’s biggest night I paid an October to get my friends into the tapes David Breskin recorded in the studio and basically used them to carry the entire film.)
But I digress. It’s a column about Martha, who was stripped of her career and company for a crime that, in my opinion, should never have gone to court. I argued at the time that the government was going after “America’s Homemaker” with a baseball bat because CEO Sam Waksul acted on the advice of his agent to sell ImClone stock and then tried to cover up this dubious crime in panic. . (I wrote a Martha on the cover of BusinessWeek as he was taking his company public.)
The person who directed the research and he made accusations Opposing Marta was James Comey, then the U.S. Attorney for the Southern District of New York. Because that jurisdiction covers Wall Street, whoever fills the role essentially acts as the federal government’s chief prosecutor for white-collar criminals. It has been the launching pad for many ambitious prosecutors, including Rudy Giuliani. (Eliot Spitzer worked there and took over Wall Street from Albany as New York’s Attorney General).
Comey, of course, was fired as FBI director in 2017 by then-President Donald Trump. He too It had an impact on the 2016 election Sending an open letter to Congress saying Hillary Clinton could be impeached for sending emails from a private server days before that election. (It wasn’t.)
Martha Stewart was on top of her game with a multi-billion dollar brand that was a model for multi-platform journalism and commerce. It was a prime mover and an attractive target for anyone trying to make a name for themselves. Did he suffer from arrogance and a sense of entitlement? Perhaps Was he worth going to jail for what he did, and losing the right to run his company forever? no
There is another lesson in how an aggressive prosecutor motivated by factors other than fairness can wreak havoc on the lives of the people he pursues. I think about that as I look at the choices the incoming Administration is making, and I hope I don’t see more people targeting themselves instead of what they’ve done.
More news below.
Diane Brady
diane.brady@fortune.com
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TOP NEWS
Musk-ification of Bastrop, Texas
Three businesses in Elon Musk’s empire—Starlink, The Boring Co. and X—have made Bastrop, Texas their headquarters, bringing new money, residents and attention to the small ranch town. luckIt’s Jessica Mathews He traveled to Bastrop with residents and community leaders to talk about Musk’s presence and the town’s future.
Trump appears serious about tariffs
Sources say Financial Times that weekend the incoming Trump administration is making sure The candidates for Treasury secretary support the significant tariffs the president-elect made on the campaign trail. Cantor Fitzgerald CEO Howard Lutnick with Elon Musk and Robert F. Kennedy Jr.
Chinese fast food tycoon sees customers
Joey Wat, CEO of Yum China—the company behind the Chinese versions of KFC China and Taco Bell—credits part of KFC China’s success. the practice of sitting in restaurants and seeing what customers enjoy. Wat says the strategy has led to some of the restaurant’s most popular dishes.
AROUND THE WATER COOLER
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Warren Buffett trashed Bank of America, but the stock may soar under Trump Author: Greg McKenna
Lightyear Capital seeks buyer for legal technology firm ProfitSolv By Luisa Beltran
Despite the push back into the office, loan delinquencies topped 10% for the first time in more than a decade. By Alena Botros
Even if RFK Jr. fires everyone at the FDA, it won’t matter because he doesn’t know anyone with the “technical expertise” to change the rules, the top adviser says. Author: Sasha Rogelberg
Apparently, researchers believe that finance majors, HR managers and entrepreneurs are what you think they are Author: Chloe Berger
This edition of CEO Daily was edited by Joey Abrams.
