On Friday, 16 July 2004, Martha Stewart was sentenced to five months in prison and five months house arrest for lying about her trading in ImClone stock. Financially, at least on paper, it was a great day for Martha because she walked out of the courthouse a lot richer than when she woke up in the morning thanks to shares in Martha Stewart Living Omnimedia jumping 37%.
The following is a crude approximation of how much money Martha made (on paper) on the day of her sentencing.Martha has a 61% stake in her company. There are 49.56 million shares outstanding. Martha owns approximately 30,231,600 shares. The shares went up $3.17 per share. Martha is $95,834,172 richer.
Five months prison and five months house arrest for $95 million -- I'll take it.
Congratulations to Kobe Bryant for signing a 7-year $136.4 million dollar contract to do nothing but play a game he loves. I still can't help but wonder if Kobe would be a rich man if was 5'8 instead of 6'6. I sure hope he is thankful for those who produced him; their genes are worth gold.
Let's pretend Kobe will work 40 hours a week for 52 weeks a year for 7 years. [No vacation for Kobe unless he has to join Martha in jail.] Now let's practice our basic arithmetic skills.Yearly salary... $19,485,714.29 Hourly salary... $9,368.13
I'll play for $9,368.13 per hour. Heck, I'll play for 1% of Kobe's rate -- $93.68 per hour.
About the 2004 Presidential Election
If Martha and Kobe didn't have legal problems, then I believe a Stewart and Bryant ticket would beat both Bush and Cheney and Kerry and Edwards. Forget Hilliary -- I nominate Martha to be the first woman President of the United States. The Stewart and Bryant ticket could run as the Diversity Party.
Author: Gerald D. Thurman
Created: 17 July 2004