March 4, 2005

A New Martha Fan

KATONAH, N.Y. - Martha Stewart (news - web sites) strolled outdoors with her dog and fed her horses Friday morning, hours after returning from prison to the multi-million-dollar estate where she will remain under the watch of federal authorities while trying to revive her homemaking empire.
She supports causes and candidates with whom I disagree, and her perfection homemaking is not my style, but I have a ton of respect for Martha Stewart.

Her prosecution was an insane, jovert-esque abuse of state power. She lied about a crime she was not charged with? (Don't get me started on insider trading -- it's called capital market efficiency in some quarters.)

Yet, she does the executive thing and decides to serve the time and move on. CEOs get knocked around in the news, entertainment, and on the Senate Floor. But that's what the good ones do. See where they want to go and take the hard road there if necessary. Ms. Stewart thought five months in prison was better than a year or two of professional limbo.

It looks like her customers and Wall Street are both ready for this redemption story. Call me naive, but I'm in as well.

Welcome home, Martha and good luck.

Posted by John Kranz at March 4, 2005 10:57 AM