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American Morning

Minding Your Business: Martha Stewart Living Scared

Aired October 14, 2003 - 07:47   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.


BILL HEMMER, CNN ANCHOR: Shifting our focus somewhat dramatically to business. Martha Stewart is talking. She admits she's scared.
Andy Serwer is "Minding Your Business," tracking this story ever since it started breaking here in New York.

ANDY SERWER, "FORTUNE" MAGAZINE: That's right.

HEMMER: How are you? What did she say?

SERWER: I'm fine.

Well, I'll tell what she said in a minute. First, I'll give you the specs on this.

Martha Stewart is going to be appearing on a Barbara Walters special. That's on ABC, isn't -- yes, on ABC in November. There is Martha. This is the first TV interview she's done. She has done a print interview with our friend, Jeff Toobin, of course, in that magazine, "The New Yorker," I think it's called -- getting it all straight today.

Here is what Martha said. She said, of course, I'm scared. The last place I would ever want to go to is prison. Slightly contrite. And I don't think I will be going to prison, though. Maybe a little bit less contrite.

So, interesting stuff there.

Some news on the magazine front. They had to ratchet back the circulation guarantee -- meaning the business is not doing so well.

A couple of other alleged corporate crooks going to the TV screens recently. Just this past Sunday, Richard Scrushy from HealthSouth was on "60 Minutes." I liked that. He kept say, Mike to Mike Wallace -- Mike, I couldn't have done it. I like how you get on a first-name basis when you do that. Also, Sam Waksal was on "60 Minutes" as well. So, this must be the season, I guess, to go on and sort of come clean.

If I was going to do something like that, I'd say, you know, guys, I was off the Atkins diet. I ate a scone last week, Bill Hemmer, Bill, you know, that kind of thing.

HEMMER: Oh, you broke it.

SERWER: (UNINTELLIGIBLE).

HEMMER: Listen, stocktoberfest (ph), you like to call it.

SERWER: I do. I like to call it.

HEMMER: It continues.

SERWER: As long as it keeps on going and it did keep going yesterday. A great day for the markets again. The Dow was up 89 points. The Nasdaq up 2. We just keep on keeping on here and nice stuff. We're going to be getting a lot of earnings this week. And futures right now are mixed.

HEMMER: Got it. Lay off the scones, will you?

SERWER: I will.

HEMMER: It's only Tuesday.

SERWER: Mea culpa.

HEMMER: Thanks, Andy.

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 October 14, 2003 - 07:47   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
BILL HEMMER, CNN ANCHOR: Shifting our focus somewhat dramatically to business. Martha Stewart is talking. She admits she's scared.
Andy Serwer is "Minding Your Business," tracking this story ever since it started breaking here in New York.

ANDY SERWER, "FORTUNE" MAGAZINE: That's right.

HEMMER: How are you? What did she say?

SERWER: I'm fine.

Well, I'll tell what she said in a minute. First, I'll give you the specs on this.

Martha Stewart is going to be appearing on a Barbara Walters special. That's on ABC, isn't -- yes, on ABC in November. There is Martha. This is the first TV interview she's done. She has done a print interview with our friend, Jeff Toobin, of course, in that magazine, "The New Yorker," I think it's called -- getting it all straight today.

Here is what Martha said. She said, of course, I'm scared. The last place I would ever want to go to is prison. Slightly contrite. And I don't think I will be going to prison, though. Maybe a little bit less contrite.

So, interesting stuff there.

Some news on the magazine front. They had to ratchet back the circulation guarantee -- meaning the business is not doing so well.

A couple of other alleged corporate crooks going to the TV screens recently. Just this past Sunday, Richard Scrushy from HealthSouth was on "60 Minutes." I liked that. He kept say, Mike to Mike Wallace -- Mike, I couldn't have done it. I like how you get on a first-name basis when you do that. Also, Sam Waksal was on "60 Minutes" as well. So, this must be the season, I guess, to go on and sort of come clean.

If I was going to do something like that, I'd say, you know, guys, I was off the Atkins diet. I ate a scone last week, Bill Hemmer, Bill, you know, that kind of thing.

HEMMER: Oh, you broke it.

SERWER: (UNINTELLIGIBLE).

HEMMER: Listen, stocktoberfest (ph), you like to call it.

SERWER: I do. I like to call it.

HEMMER: It continues.

SERWER: As long as it keeps on going and it did keep going yesterday. A great day for the markets again. The Dow was up 89 points. The Nasdaq up 2. We just keep on keeping on here and nice stuff. We're going to be getting a lot of earnings this week. And futures right now are mixed.

HEMMER: Got it. Lay off the scones, will you?

SERWER: I will.

HEMMER: It's only Tuesday.

SERWER: Mea culpa.

HEMMER: Thanks, Andy.

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