Martha Stewart Lives Like a Queen While Company Suffers
Posted by Adam
MARTHA Stewart has been living like a queen while her company collapses.
The domestic diva’s Martha Stewart Living Omnimedia has turned a profit just once in the past 11 years, and its stock has plummeted from a high of $38 a share to a measly $2.43.
Meanwhile, Martha was granted increasingly huge pay hikes. Her total compensation jumped from $2 million in 2007 to $7 million in 2008. In 2009, she pocketed $9.7 million, while the company lost $15 million!
“To a lot of people involved in the company, Martha has been fiddling while Rome burned,” a source told American tabloid the National Enquirer.
“Her argument has always been that her name is on the company masthead, and she has to show that others can enjoy a taste of her lifestyle by buying her wares.
“But it’s come to the point of no return. The company is laying off people while Martha lives like the Queen of England.
“Martha is willing to feel the pinch a bit to help reverse the company’s fortunes, but she says Martha Stewart does not live on a budget.
“Still, when push comes to shove, the big money may not be there for her anymore.”
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