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Martha, Martha, Martha

Wednesday, May 26, 2004

I wish I had cut out the article the other day that stated the amount of money that Martha Stewart lost in stock value from getting convicted. One place said it was $90 million. Another place said it was over $300 million in company value.

The amount of money she would have lost if she hadn't interferred was less than $100,000. And she would have probably had to pay a small fine if she had admitted from the start that she had known. But she compounded things by lying to investigators, etc.

Someone sent me a picture a picture a while ago that I put up at my site, Martha Stewart--Living Behind Bars. It's not that I hate Ms. Stewart. BUT, I think it's a fine example of folly of not admitting when you're wrong and accept the consequences earlier rather than later in the process.

I had this happen a couple months ago when I was supposed to put a pay per click account on hold. I did it with one account but forgot to do it the other one I was using for this client. Less than $200 of charges were rung up, but I admitted my wrong and refunded the client the money.

Things will come back to bite you in the butt, like with Martha. Good lesson.

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