The Joy of Pain by Richard H. Smith

Author:Richard H. Smith [Smith, Richard H.]
Language: eng
Format: mobi
Publisher: Oxford University Press, USA
Published: 2013-10-16T04:00:00+00:00

MARTHA STEWART’S MISFORTUNES

Let’s examine the case of Martha Stewart,30 whose indictment and ultimate conviction for insider trading was made to order for the tabloids. Stewart is a remarkable American success story.31 But, as Michael Kinsley noted in an article for Slate, her period of troubles represent “a landmark in the history of schadenfreude.”32 Following an early career as a model and then as a successful stockbroker, she began using her long-time interests in cooking, decorating, and gardening to develop a series of hugely successful business ventures. After releasing her first book, Entertaining, which was a New York Times best seller, she published an almost yearly series of other books on topics ranging from pies, hors d’oeuvres, and weddings to pulling off a good Christmas celebration. Along the way, she wrote many magazine articles and newspaper columns and was a frequent guest on national television programs. By the time of her indictment for insider trading in 2002, she had created a media empire, Martha Stewart Living Omnimedia. It included her own magazine, Martha Stewart Living, a daily television program, a catalogue business (Martha by Mail), and a floral business (marthastewartflowers.com), among other ventures. When the company went public on the New York Stock Exchange, she became a billionaire by the end of the first day.

Before her indictment, as the information about her alleged stock dealings emerged, Martha Stewart allowed Jeffrey Toobin, legal analyst for The New Yorker, to interview her at her Connecticut home. He sensed that the ridicule that she was receiving (such as the mock magazine cover, Martha Stewart Living Behind Bars, ubiquitous on the internet) was probably taking its toll on her, and perhaps this seemed an opportunity to right the balance. His observations about this interview were telling.

Stewart positioned herself as just about perfect, free of flaws. When Toobin was served Hunan chicken for lunch, Stewart emphasized that it was done in the best way possible. She gave Toobin the recipe so that he could replicate it later. The kitchen was a marvel, with every kind of copper pot and cooking utensil. From Toobin’s description, everything about her home, about what she served him, about the way she talked and acted, seemed aimed at perfection. Martha Stewart was bound to inspire envy in many people.33

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