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CNN LIVE AT DAYBREAK

Was Martha Stewart Movie Fair?

Aired May 20, 2003 - 06:52   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

CAROL COSTELLO, CNN ANCHOR: "Martha! Martha! Martha!," time to talk about "Martha," the movie. Did you catch it last night? It showed how the home style diva got her start and how she ended up where she is today.
(BEGIN VIDEO CLIP FROM "MARTHA! MARTHA! MARTHA!")

UNIDENTIFIED FEMALE: Today we have two very special guests. Lily and Natasha are here to help me bake a cake.

Did you know that's how I got my start?

UNIDENTIFIED CHILD: By baking a cake?

UNIDENTIFIED FEMALE: If you let me finish, Lily, I'll tell you.

Baking birthday cakes and selling them to the neighbors is something I did when I was your age.

UNIDENTIFIED CHILD: When you were eight?

UNIDENTIFIED FEMALE: What! I was nine.

(END VIDEO CLIP)

COSTELLO: Ooh. The movie was also a rather vicious account of Martha Stewart's life. And we want to pose this question to you this morning -- was it fair?

We placed a wake up call to Jennifer Openshaw, founder of the Women's Financial Network.

Good morning.

JENNIFER OPENSHAW, FOUNDER, WOMEN'S FINANCIAL NETWORK: Good morning, Carol.

Great to be here.

Quite a movie, huh?

COSTELLO: It was quite a movie. Was it a fair representation of Martha Stewart's life?

OPENSHAW: Well, I've got to say that if her name was Mike Stewart instead of Martha Stewart, I don't think she'd be getting all of this attention. And it's interesting how she's gone in the public eye from being the epitome of American values to Mommy Dearest 2. You know, here's a woman who, through television, has infiltrated our lives with good, wholesome values, and ironically I think it's television that's coming back to affect her and potentially have a real impact on her business.

So, no, I don't think folks would have the same interest if it was a man.

COSTELLO: What does this say about attitudes about women in powerful positions, do you think?

OPENSHAW: Well, I think that, you know, we -- it's interesting, when you look at the scandals that have taken place on Wall Street over the last decade or so, those, by and large, were not caused by women. And yet Martha, somebody who's achieved enormous power and success, may be decimated for activity that, by comparison, is really only a blip on the radar screen.

Certainly if she is guilty of insider trading then she should be punished for those actions. But when you look at the actions of so many other people before her for decades, actions that have had a huge impact on the financial well being of Americans, that's got to stop. And I think rather than focusing on the personality with -- of somebody, we need to focus on changing the law so that the little guy out there isn't so affected.

Congress, for example, still hasn't passed a law on spinning, and yet that's an example of something that's affected millions.

COSTELLO: Well, you have to admit, Jennifer, that, you know, I don't know if you've read the book "Martha, Inc.," but that book certainly doesn't portray Martha Stewart in a great light. A lot of people think she is rather mean.

OPENSHAW: And certainly that may be the case. But I think still, though, Carol, when you look at the characteristics of men versus women and their management styles, my, you know, you've seen repeated stories and studies that show that, you know, if a man is aggressive and strong, well, he comes across as being a good manager and more respectful. And yet if a woman, it can certainly not only have a different impact on her reputation, but it can impact her reputation and her business.

So I do think that you certainly need to be mindful of that.

But we have seen that. We've read about that in the book. And women who achieve that kind of power, I think, the microscope is on them and you need to be careful, to some extent.

COSTELLO: Understand.

Jennifer, thanks for joining us this morning.

We appreciate your insight.

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