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Martha Stewart, the American business magnate, television host, author, and magazinepublisher. As founder of Martha Stewart Living Omnimedia, she has gained success through a variety of business ventures, encompassing publishing, broadcasting, and merchandising. Stewart's syndicated talk show, Martha, is broadcast throughout the world, she has written numerous bestselling books, and she is the publisher of Martha Stewart Living magazine.
Martha Stewart was born in Jersey City, New Jersey to middle-class Polish-American parents Edward "Eddie" Kostyra (c. 1912 – 1979) and Martha Ruszkowski Kostyra (b. Buffalo, New York, September 16, 1914 – d. Norwalk, Connecticut, November 16, 200] She lived in Jersey City until the age of 3, when her family moved to Nutley, New Jersey. She was raised in Nutley along with her five siblings. She took the name "Grace" for her confirmation name before graduating from Nutley High School.[8]
Her family instilled in her a strong passion for activities in the home. Stewart's mother taught her how to cook and sew. Later, she learned the processes of canning and preserving when she visited her grandparents' home in Buffalo, New York. Her father had a passion for gardening, and passed on much of his knowledge and expertise to his daughter. Stewart was also active in many extracurricular activities, such as the school newspaper and the Art Club. During this time, Stewart began a modeling career. She was hired and appeared in several television commercials and magazines, including one of Tareyton's famous "Rather fight than switch" cigarette advertisements. Finishing with straight As, she was awarded a partial scholarship to Barnard College in New York City.
In September 1997, Stewart, with the assistance of business partner Sharon Patrick, was able to secure funding to purchase the various television, print, and merchandising ventures related to the Martha Stewart brand, and consolidate them into a new company, Martha Stewart Living Omnimedia. Stewart served as chairwoman, president, and CEO of the new company and Patrick became Chief Operations Officer. By organizing all of the brand's assets under one roof, Stewart felt she could promote synergy and have greater control of the brand's direction through the business's activities. That same month Stewart announced in Martha Stewart Living the launch of a companion website, marthastewart.com, and a catalogue business, Martha by Mail. The company also has a direct-to-consumer floral business, marthastewartflowers.com
On October 19, 1999, Martha Stewart Living Omnimedia went public on the New York Stock Exchange under the ticker symbol MSO. The initial public offering was set at $18 per share, and rallied to $38 by the end of trading, making Stewart a billionaire on paper. The stock price slowly went down to $16 per share by February 2002. Stewart was then and continues to be the majority shareholder, with a commanding 96% control of voting power in the company.
Wednesday, September 1, 2010
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