Return to Transcripts main page
American Morning
Minding Your Business: Martha Wants Charges Dropped
Aired October 07, 2003 - 07:44 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.
SOLEDAD O'BRIEN, CNN ANCHOR: Martha Stewart says she wants the charges against her dismissed. Andy Serwer is off today, but Christine Romans joins us this morning, "Minding Your Business."
Good morning.
CHRISTINE ROMANS, CNN FINANCIAL NEWS: Good morning.
A couple of those charges, obstruction of justice and securities fraud, securities fraud the most serious of the charges she's got in front of her -- maximum prison there, a potential of 10 years and $1 million fine. It's not as though Martha Stewart, another $1 million wouldn't be a problem. I mean, she's already lost at its worst $400 million in her stock and, you know, immeasurable brand suffering.
This is what her lawyers say. They say that a couple of these charges should be dropped, and they want to remind you that Martha is a real person -- a point perhaps lost on the prosecution. Ms. Stewart is a person, not a commodity. She has a daughter. She has friends. She has neighbors. She's entitled, as is anyone, to speak out and defend herself.
Her trial is set for January, so this is normal to see motions to try to drop some of those charges as we get closer.
O'BRIEN: So, what grounds? I mean, yes, OK, she's a person, and...
ROMANS: They say there was some inflammatory language in the indictment, and she hasn't been charged with insider trading; yet, there is that tone throughout the indictment. So, they want to drop those obstruction of justice and securities fraud charges.
O'BRIEN: All right, let's take a look at the markets this morning. Give us a preview.
ROMANS: The markets are four days higher for the Dow. You know, the Dow is up 3.5 percent so far for the month of October, and October is a pretty scary month, at least it's had some of the biggest headline drops of the last century or so.
The Dow yesterday up 22 points, Nasdaq up 12, S&P 500 up 4.5, the Dow up about 3.5 percent so far for the month. But we'll see how it works out this morning. You know, it's an earnings season, so it depends on what companies have to say about their bottom line, and you could see things going back and forth pretty much every day.
O'BRIEN: Right.
ROMANS: So, right now it looks like a little bit lower, but it has been four days higher in a row.
O'BRIEN: And we will see how the market opens a little bit later this morning when you're back.
ROMANS: Sure, yes.
O'BRIEN: Christine as always, thanks so much.
ROMANS: Thank you.
O'BRIEN: It's nice to have you filling in. We appreciate it.
ROMANS: Nice to be here, 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 October 7, 2003 - 07:44 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
SOLEDAD O'BRIEN, CNN ANCHOR: Martha Stewart says she wants the charges against her dismissed. Andy Serwer is off today, but Christine Romans joins us this morning, "Minding Your Business."
Good morning.
CHRISTINE ROMANS, CNN FINANCIAL NEWS: Good morning.
A couple of those charges, obstruction of justice and securities fraud, securities fraud the most serious of the charges she's got in front of her -- maximum prison there, a potential of 10 years and $1 million fine. It's not as though Martha Stewart, another $1 million wouldn't be a problem. I mean, she's already lost at its worst $400 million in her stock and, you know, immeasurable brand suffering.
This is what her lawyers say. They say that a couple of these charges should be dropped, and they want to remind you that Martha is a real person -- a point perhaps lost on the prosecution. Ms. Stewart is a person, not a commodity. She has a daughter. She has friends. She has neighbors. She's entitled, as is anyone, to speak out and defend herself.
Her trial is set for January, so this is normal to see motions to try to drop some of those charges as we get closer.
O'BRIEN: So, what grounds? I mean, yes, OK, she's a person, and...
ROMANS: They say there was some inflammatory language in the indictment, and she hasn't been charged with insider trading; yet, there is that tone throughout the indictment. So, they want to drop those obstruction of justice and securities fraud charges.
O'BRIEN: All right, let's take a look at the markets this morning. Give us a preview.
ROMANS: The markets are four days higher for the Dow. You know, the Dow is up 3.5 percent so far for the month of October, and October is a pretty scary month, at least it's had some of the biggest headline drops of the last century or so.
The Dow yesterday up 22 points, Nasdaq up 12, S&P 500 up 4.5, the Dow up about 3.5 percent so far for the month. But we'll see how it works out this morning. You know, it's an earnings season, so it depends on what companies have to say about their bottom line, and you could see things going back and forth pretty much every day.
O'BRIEN: Right.
ROMANS: So, right now it looks like a little bit lower, but it has been four days higher in a row.
O'BRIEN: And we will see how the market opens a little bit later this morning when you're back.
ROMANS: Sure, yes.
O'BRIEN: Christine as always, thanks so much.
ROMANS: Thank you.
O'BRIEN: It's nice to have you filling in. We appreciate it.
ROMANS: Nice to be here, 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.
