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Martha Stewart Case; Iraqi Leaders Sign Interim Constitution; Water Taxi Capsizes; Schwarzenegger Executive Editor for 2 Magazines

Aired March 08, 2004 - 11:00   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.


COSTELLO: preparing for possible prison time, domestic diva Martha Stewart arrived minutes ago to meet with her probation officer. This follows her conviction for obstruction of justice and other charges.
CNN's Mary Snow live in New York. She has the latest for us.

Good morning.

MARY SNOW, CNN FINANCIAL NEWS CORRESPONDENT: Hi there, Carol.

Yes, just about 10 minutes ago, Martha Stewart showing up not far from where she was convicted on Friday on four criminal counts. Martha Stewart was accompanied by her lead attorney Robert Morvillo. She is reporting to the probation services office here in Lower Manhattan where she will be meeting with a probation officer as part of a pre-sentencing process.

It is expected she'll be asked questions, things like her personal background, family history, medical questions and criminal history, which she has not -- doesn't have any criminal history. Also, Martha Stewart didn't answer any questions when asked by reporters. She was also asked whether or not she had a statement about her company and she answered not right now.

A source familiar with the situation said that Martha Stewart spent the weekend in Connecticut having various conversations with lawyers. Among some of the people she met with was Sharon Patrick, the CEO of her company. The source saying that the board of directors is expected to meet this afternoon and that the main focus for Martha Stewart right now is her company and what is next.

Now, Martha Stewart's former stockbroker and co-defendant Peter Bacanovic also showed up earlier this morning at the probation office and left. He was convicted on four of five counts. Like Martha Stewart, he has no criminal history, and legal experts say this makes them eligible for the minimum sentence. Right now legal experts say that Martha Stewart can expect at least 12 to 18 months at her sentencing, which is to take place on June 17 -- Carol.

COSTELLO: All right. Mary Snow, live from New York, many thanks to you.

Time to delve a little deeper into Martha's mess. "Celebrity Justice" Executive Producer Harvey Levin joins us from Los Angeles.

Good morning to you.

HARVEY LEVIN, "CELEBRITY JUSTICE": Hi -- Carol.

COSTELLO: Hey, we just got word that Viacom, the company that owns CBS, is canceling "Martha Stewart Living." Her TV show will no longer be shown. That doesn't come as much of a surprise, does it?


Aired March 8, 2004 - 11:00   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
COSTELLO: preparing for possible prison time, domestic diva Martha Stewart arrived minutes ago to meet with her probation officer. This follows her conviction for obstruction of justice and other charges.
CNN's Mary Snow live in New York. She has the latest for us.

Good morning.

MARY SNOW, CNN FINANCIAL NEWS CORRESPONDENT: Hi there, Carol.

Yes, just about 10 minutes ago, Martha Stewart showing up not far from where she was convicted on Friday on four criminal counts. Martha Stewart was accompanied by her lead attorney Robert Morvillo. She is reporting to the probation services office here in Lower Manhattan where she will be meeting with a probation officer as part of a pre-sentencing process.

It is expected she'll be asked questions, things like her personal background, family history, medical questions and criminal history, which she has not -- doesn't have any criminal history. Also, Martha Stewart didn't answer any questions when asked by reporters. She was also asked whether or not she had a statement about her company and she answered not right now.

A source familiar with the situation said that Martha Stewart spent the weekend in Connecticut having various conversations with lawyers. Among some of the people she met with was Sharon Patrick, the CEO of her company. The source saying that the board of directors is expected to meet this afternoon and that the main focus for Martha Stewart right now is her company and what is next.

Now, Martha Stewart's former stockbroker and co-defendant Peter Bacanovic also showed up earlier this morning at the probation office and left. He was convicted on four of five counts. Like Martha Stewart, he has no criminal history, and legal experts say this makes them eligible for the minimum sentence. Right now legal experts say that Martha Stewart can expect at least 12 to 18 months at her sentencing, which is to take place on June 17 -- Carol.

COSTELLO: All right. Mary Snow, live from New York, many thanks to you.

Time to delve a little deeper into Martha's mess. "Celebrity Justice" Executive Producer Harvey Levin joins us from Los Angeles.

Good morning to you.

HARVEY LEVIN, "CELEBRITY JUSTICE": Hi -- Carol.

COSTELLO: Hey, we just got word that Viacom, the company that owns CBS, is canceling "Martha Stewart Living." Her TV show will no longer be shown. That doesn't come as much of a surprise, does it?