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CNN Live Today

Interview With Jennifer Openshaw

Aired June 06, 2003 - 11:35   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.


LEON HARRIS, CNN ANCHOR: Some are questioning whether Martha Stewart is being unfairly punished due to the fact that she is a woman in a so-called "man's world."
Well, joining us to talk about that is the founder of the Women's Financial Network, Jennifer Openshaw. Jennifer joins us from Modesto, California. Thank you for coming out and talking with us about this, Jennifer. When I heard your position on this, it struck me as rather provocative. Do you really believe that Martha Stewart, right now, is going through this turmoil she is going through right now specifically because she's a woman?

JENNIFER OPENSHAW, FOUNDER, WOMEN'S FINANCIAL NETWORK: Well, I do think, Leon, that if her name was Mike Stewart, she wouldn't be getting the same kind of attention, and there's two reasons. First of all, she's a woman in an environment where there are very few female CEOs. So she stands out there. And secondly, that she personally is so intricately entwined with her company. She is the brand. So she's unique, she stands out in a way that a man wouldn't. As a result, Leon, she's getting so much more publicity, and that publicity, of course, is having an effect on her company and the stock's value.

HARRIS: One of the most recent celebrities to have problems like this in the press was Bill Bennett. I am sure you remember that case. It was revealed that he had quite a sum of money that he had tied up in gambling.

Could you say the same about him if his name was Barbara Bennett, he wouldn't have gone through the same thing just because of that? Isn't it more of a case that people like him and Martha Stewart who are set up as paragons of some sort of virtue of any kind, when someone sees them having clay feet, that something just happens here in this public and here in this country, we just love to see that sort of -- that kind of person fall?

OPENSHAW: I think, to some extent, you're right, and I think that maybe we're seeing here prosecutors making an example out of Martha. She is symbolic. It certainly will set into people's mind, if she is indeed convicted, guilty, that you'd better think twice before engaging in insider trading or lying.

But the concern that I have, Leon, is that these kinds of activities have been going on for decades on Wall Street. When you look at Enron, Tyco, and WorldCom, middle America have seen their retirements go bankrupt because of these kind of activities, and so the punishment seems out of wack here. I think that if Martha is guilty, certainly she should be punished accordingly, but what about everybody else who, really, by comparison, committed crimes against humanity?

HARRIS: Yes, that -- I understand that argument. But what do you say to those who say, Well, you know what? You get it on both sides. Some are saying that Martha was getting a lot of extra attention because she was a woman on the way up. Her achieving the stature that she achieved, also being there on the board of the stock exchange in New York, as well as being the top corporate officer in her own company and achieving that as a woman was notable when it happened in the positive here, so she's going to have to accept the fact it can also hurt on the negatives.

OPENSHAW: I do think, as a woman, you stand out, again, because there are so few women. I think -- look at Carly Fiorina of Hewlett- Packard. Not long ago, she was very much in the press with a lot of negative publicity and she has come through that. What I think is also interesting with Martha is that she built her company very much through television, and now it's television that is having a big impact on her public perception today.

HARRIS: Yes, very interesting. Quickly, if you can, give us a comment here about the differences between men's and women's managerial styles. You think that also matters in this case?

OPENSHAW: Not in this particular case. I think, in general, women tend -- studies show that women tend to be less hierarchical, more inclusive, but the truth is they can be just as cunning and certainly just as successful. We see those examples. The question is, can you withstand being under the microscope, which may certainly happen if you're a woman.

HARRIS: Well, it comes with the territory once you reach those heights in this country. We've seen that happen time and time again. Jennifer Openshaw, thank you for you time. We sure appreciate your time and your insights today as well. Take care.

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 6, 2003 - 11:35   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
LEON HARRIS, CNN ANCHOR: Some are questioning whether Martha Stewart is being unfairly punished due to the fact that she is a woman in a so-called "man's world."
Well, joining us to talk about that is the founder of the Women's Financial Network, Jennifer Openshaw. Jennifer joins us from Modesto, California. Thank you for coming out and talking with us about this, Jennifer. When I heard your position on this, it struck me as rather provocative. Do you really believe that Martha Stewart, right now, is going through this turmoil she is going through right now specifically because she's a woman?

JENNIFER OPENSHAW, FOUNDER, WOMEN'S FINANCIAL NETWORK: Well, I do think, Leon, that if her name was Mike Stewart, she wouldn't be getting the same kind of attention, and there's two reasons. First of all, she's a woman in an environment where there are very few female CEOs. So she stands out there. And secondly, that she personally is so intricately entwined with her company. She is the brand. So she's unique, she stands out in a way that a man wouldn't. As a result, Leon, she's getting so much more publicity, and that publicity, of course, is having an effect on her company and the stock's value.

HARRIS: One of the most recent celebrities to have problems like this in the press was Bill Bennett. I am sure you remember that case. It was revealed that he had quite a sum of money that he had tied up in gambling.

Could you say the same about him if his name was Barbara Bennett, he wouldn't have gone through the same thing just because of that? Isn't it more of a case that people like him and Martha Stewart who are set up as paragons of some sort of virtue of any kind, when someone sees them having clay feet, that something just happens here in this public and here in this country, we just love to see that sort of -- that kind of person fall?

OPENSHAW: I think, to some extent, you're right, and I think that maybe we're seeing here prosecutors making an example out of Martha. She is symbolic. It certainly will set into people's mind, if she is indeed convicted, guilty, that you'd better think twice before engaging in insider trading or lying.

But the concern that I have, Leon, is that these kinds of activities have been going on for decades on Wall Street. When you look at Enron, Tyco, and WorldCom, middle America have seen their retirements go bankrupt because of these kind of activities, and so the punishment seems out of wack here. I think that if Martha is guilty, certainly she should be punished accordingly, but what about everybody else who, really, by comparison, committed crimes against humanity?

HARRIS: Yes, that -- I understand that argument. But what do you say to those who say, Well, you know what? You get it on both sides. Some are saying that Martha was getting a lot of extra attention because she was a woman on the way up. Her achieving the stature that she achieved, also being there on the board of the stock exchange in New York, as well as being the top corporate officer in her own company and achieving that as a woman was notable when it happened in the positive here, so she's going to have to accept the fact it can also hurt on the negatives.

OPENSHAW: I do think, as a woman, you stand out, again, because there are so few women. I think -- look at Carly Fiorina of Hewlett- Packard. Not long ago, she was very much in the press with a lot of negative publicity and she has come through that. What I think is also interesting with Martha is that she built her company very much through television, and now it's television that is having a big impact on her public perception today.

HARRIS: Yes, very interesting. Quickly, if you can, give us a comment here about the differences between men's and women's managerial styles. You think that also matters in this case?

OPENSHAW: Not in this particular case. I think, in general, women tend -- studies show that women tend to be less hierarchical, more inclusive, but the truth is they can be just as cunning and certainly just as successful. We see those examples. The question is, can you withstand being under the microscope, which may certainly happen if you're a woman.

HARRIS: Well, it comes with the territory once you reach those heights in this country. We've seen that happen time and time again. Jennifer Openshaw, thank you for you time. We sure appreciate your time and your insights today as well. Take care.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com