Editor’s note: Business Reform Magazine is your exclusive source for real biblical answers to real business problems.
www.businessreform.com
Martha Stewart has become a polarizing force, attracting those who admire and defend her as well as those who believe she is a symbol of corporate greed. Whatever your view, she is now under a 41-page federal indictment that includes securities fraud and obstruction of justice.
The case swirls around her sale of ImClone stock using insider information. Any securities case that involves insider trading is very difficult to prove and thus far she has not been charged. The indictment focuses on the allegation that Martha lied to federal investigators and then ordered the doctoring of records to support her claims.
Now Martha is in an all-out blitz to defend herself. Interestingly, most of her defense is not focused on the facts of the case but on attacking other people. Time and the legal evidence will determine her guilt, but if she is found guilty, she has no one to blame but herself. Martha was within her rights to be silent when questioned, but rather than create an embarrassing silence, she spoke what is alleged to be even “falser” statements.
Some of those rallying to her defense state that it was only a $40,000 stock trade indiscretion and that there are bigger fish at WorldCom and Enron that have not been charged with insider trading. In reality, however, that is not the point.
As CEO of a public company, Martha Stewart has the responsibility to protect the investment of shareholders in LivingOmnimedia by maintaining her integrity. If any of the charges are proven true, would you want to own stock in a company whose CEO has lied?
Integrity and trustworthiness are always the most important assets any CEO possesses, especially after the recent round of business scandals. King Solomon observed, “A good name is to be more desired than great riches” (Proverbs 22:1 NASB).
In business, we need to send a clear message to all leaders who violate our trust by acting in a way that is legally unjustified, harmful, or contrary to law:
we, the public, will not tolerate it!
Steve Marr is the former CEO of the fourth largest import-export firm in the U.S., a company which facilitated international trade for many of the largest companies in America. Currently, Steve consults with with businesses and ministries utilizing ancient Biblical principles for success in today’s marketplace. Click here to contact Steve, or visit his website at www.businessproverbs.com.
