Sunday: Entertainment Review—The Queen of all Entertaining Doomed?
Today I came across this article “Martha’s Company is Doomed” written by James Ledbetter
It lists these facts:
-The CEO of the company for 11 years announced her resignation yesterday
-Her stock which was $30 a share in 2005 has now dropped to $8 a share
-Last year the magazine portion of the business had layoffs and stopped the publication of Blueprint
-Most of her revenue is from merchandising, 76% of which come from K-Mart (in 2007) But the sales of the Martha Stewart products have not even covered the royalties they have to pay Martha’s company ($40.4 million in the year ending Jan. 31, 2003, and a whopping $65 million in the year that ended this January)
The company hopes to make up its revenues through it’s merchandising at Macys, Costco and KBHome.
The article ends by saying, “In 2011 she will turn 70: How much longer does she want to grace the covers of magazines, whip up meringues on TV and hawk soup in Costco?
The most likely scenario, and the one that still keeps the stock slightly above water, is that some outside investor would swoop in, sift through to find where its value is, and sell or shut down the rest.
For many of the company’s employees, that would probably mean looking for a new job. But for those who’d like to see Martha retire with dignity, it would be a good thing.”
Here is my opinion on Martha:
So if you have read any of my posts you know I am a Martha fan, from her television show Martha to Everyday Food. I have subscriptions to Body and Soul, Living, Simples Things and did have subscriptions to Blueprint and Kids. I get inspiration and have come to love cooking, decorating, crafting and entertaining mainly from her magazines (along with Food Network). When I have decorated for parties, first thing I do is find my Living magazines and look through them.
I LOVE her cookbooks, her baking handbook, best selling cookie book and even her housecleaning book.
I enjoy her food products at Costco, have never bought anything of hers from KMart, have enjoyed window shopping her things at Macys—have yet to purchase something.
I think she has done a wonderful job evolving with the times and coming back from something that could have very well ruined her (jail time). Many find fault in her for being an ex-convict, that her products are not made in the USA, and that she does not cater to the working class. She has a reputation from many of being greedy and a horrible person to work for.
The article talks about how she is not really appealing to the younger generation which I don’t find to be true. Many popular Mom bloggers post her stuff all the time and I know I get lots of my inspiration from her shows and magazines. Although it makes me wonder, is it the wonderful people she has working under her that I enjoy or really her?
I wonder who would take her place, Racheal Ray I enjoy for some of her recipes, I am not big on any of the design shows that are out there. I love Martha’s magazines and have not found anything similar to them. I think I would miss Martha and I hope she continues to reinvent herself and pulls through or maybe have one of her great employees that enjoy even more do it for her.
Read the article and share your opinion!