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Tyco. WorldCom. These companies created an environment of public mistrust of big corporations. Lives were destroyed; life savings depleted, and at the end, seemingly light punishments, if any were given to responsible parties. There was no tolerance for continued corporate impropriety. Martha Stewart sold almost 4000 (exactly 3,928) shares of her personally owned stock of ImClone in December 2001. The perception of wrong-doing came about as it related to Food and Drug Administration (FDA) disapproval of an ImClone drug. A friend of Stewart, and ImClone executive, indicated to her that the FDA would not approve the drug...
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