03/18/2010 05:12 am ET | Updated May 25, 2011

Martha Stewart On Rachael Ray: "Not Good Enough For Me" (VIDEO)

Martha Stewart told Cynthia McFadden that while Rachael Ray may be popular, her style is "not good enough" for the domestic diva.

"She professed that she cannot bake," Stewart told "Nightline" co-anchor Cynthia McFadden. "She just did a new cookbook which is just a re-edit of a lot of her old recipes. And that's not good enough for me. I mean, I really want to write a book that is a unique and lasting thing. Something that will really fulfill a need in someone's library."

Stewart's candid comments were not as much an insult to Ray as it was a clarification of the differences between their styles.

"She's different," Stewart said of Ray. "She's more of an entertainer...with her bubbly personality, than she is a teacher, like me. That's not what she's professing to be...She's a totally different kind of cook than I am. I don't know if she has a garden. I don't think so. But if she does, she doesn't show that on her show so much."


Ray, for her part, was not offended.

"Why would it make me mad?" she told ABC News. "[Stewart's] skill set is far beyond mine. That's simply the reality of it. That doesn't mean that what I do isn't important, too... I don't consider it needling. I really just think she's being honest. She does have a better skill set than I do when it comes to producing a beautiful, perfect, high quality meal. I'd rather eat Martha's than mine, too."

Stewart also told McFadden that the amount of money she lost due to her imprisonment was "inestimable."

"Probably more than a billion dollars, of course," Stewart said. "And if you add in what the company was worth, absolutely. And I'm a major shareholder in the company. When you are prosecuted in such a way and a great portion of wealth is dissipated, all I can think is, so much, what I could have done with that. For the good of mankind. And I hope that I can continue."

But Stewart told McFadden that she doesn't kick herself over the insider trading scandal that sent her to jail.

"How can I kick myself? There are other people to be kicked!" she said.