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CNN Live At Daybreak
Martha's Mess
Aired June 03, 2003 - 06:45 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for some business buzz right now. Martha Stewart's legal problems just will not go away.
For the latest on the investigation into the domestic diva, we head live to New York and Susan Lisovicz.
So, Susan, bring us up-to-date on Martha.
SUSAN LISOVICZ, CNN FINANCIAL NEWS: Well, there is a very interesting read in "The Financial Times" today, Carol, which says that Martha Stewart's lawyers went to Washington, but were denied a last-ditch attempt to have Justice Department officials intervene in her investigation. The "FT" reporting that Stewart's lawyers were waiting to hear from officials in D.C. before settling on a plea agreement with federal prosecutors here in New York.
Legal experts say it's not really unusual for suspects in high- profile cases to appeal to Washington for help, especially in the 11th hour. Stewart, of course, faced insider trading charges for her controversial sale of ImClone shares. "FT" reporting that government officials may not have enough evidence to bring insider trading charges, and may seek lesser charges of obstruction of justice, but those offenses would still carry prison time and would prevent Stewart from serving as an officer at any public company, including her own. "FT" says the case could be resolved this weekend.
Just one more footnote, Carol. We've talked about Sam Waksal, the founder of ImClone. He's to be sentenced one week from today.
COSTELLO: A quick look at the futures before you have to go, Susan.
LISOVICZ: Mixed. IBM, as we talked about in the last half-hour, weighing on the Dow futures, the subject of a formal SEC inquiry for its accounting practices.
Yesterday, positive data on the manufacturing sector gave stocks a boost most of the day. Blue chips rallied more than 100 points, crossed the 9000 mark. We haven't seen that in a long time. But the market ended up coming to some late trading profit-taking. The Dow industrials closing up 74 points, or half-a-percent. Nasdaq had its highest trading volume yesterday, closing 5 points lower.
Today, we get auto sales figures from the top three car makers -- Carol.
COSTELLO: All right, Susan Lisovicz, many thanks. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
Aired June 3, 2003 - 06:45 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for some business buzz right now. Martha Stewart's legal problems just will not go away.
For the latest on the investigation into the domestic diva, we head live to New York and Susan Lisovicz.
So, Susan, bring us up-to-date on Martha.
SUSAN LISOVICZ, CNN FINANCIAL NEWS: Well, there is a very interesting read in "The Financial Times" today, Carol, which says that Martha Stewart's lawyers went to Washington, but were denied a last-ditch attempt to have Justice Department officials intervene in her investigation. The "FT" reporting that Stewart's lawyers were waiting to hear from officials in D.C. before settling on a plea agreement with federal prosecutors here in New York.
Legal experts say it's not really unusual for suspects in high- profile cases to appeal to Washington for help, especially in the 11th hour. Stewart, of course, faced insider trading charges for her controversial sale of ImClone shares. "FT" reporting that government officials may not have enough evidence to bring insider trading charges, and may seek lesser charges of obstruction of justice, but those offenses would still carry prison time and would prevent Stewart from serving as an officer at any public company, including her own. "FT" says the case could be resolved this weekend.
Just one more footnote, Carol. We've talked about Sam Waksal, the founder of ImClone. He's to be sentenced one week from today.
COSTELLO: A quick look at the futures before you have to go, Susan.
LISOVICZ: Mixed. IBM, as we talked about in the last half-hour, weighing on the Dow futures, the subject of a formal SEC inquiry for its accounting practices.
Yesterday, positive data on the manufacturing sector gave stocks a boost most of the day. Blue chips rallied more than 100 points, crossed the 9000 mark. We haven't seen that in a long time. But the market ended up coming to some late trading profit-taking. The Dow industrials closing up 74 points, or half-a-percent. Nasdaq had its highest trading volume yesterday, closing 5 points lower.
Today, we get auto sales figures from the top three car makers -- Carol.
COSTELLO: All right, Susan Lisovicz, many thanks. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
