A livestock feed company intends to contest citations and proposed penalties issued by federal safety regulators after the collapse of an Omaha plant that killed two employees.
Monthly Archives: July 2014
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Restaurant App Resy Helps Foodies Nab Hard-to-Get Reservations
by Successful IBO • • 0 Comments
The New York City-based startup charges users a fee ranging from $10 to $50 to book tables at the Big Apple’s hottest restaurants.
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Feds probing for fraud in DC building projects
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Federal investigators looking for fraud in the nation’s capital are scrutinizing a program meant to give local contractors a share of major construction projects, people familiar with the probe have told The Associated Press.
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USANA Q2 Revenue $188 Million
by Ted Nuyten • • 0 Comments
Second quarter net sales of $188.3 million; EPS of $1.36
Associate growth of 11.4%
Company repurchases 682,000 shares under program during second quarter
Company reiterates 2014 net sales and earnings outlook
Company announces promotion of Kevin Guest to President
SALT LAKE CITY – Jul. 29, 2014– USANA Health Sciences, Inc. (NYSE: USNA) today announced financial results for its fiscal second quarter ended June 28, 2014. The Company also reiterated net sales and earnings guidance for 2014.
Financial Performance
For the second quarter of 2014, net sales decreased slightly to $188.3 million, compared with $189.1 million in the prior-year period. Net sales, on a comparative basis, were negatively impacted by: (i) $7.0 million of incremental sales in the second quarter of 2013 that occurred ahead of policy changes, which included restricting Associate purchases to their country of residence; (ii) $3.3 million from unfavorable changes in currency exchange rates, and (iii) price discounts that the Company implemented in 2013. The number of active Associates for the second quarter increased 11.4% year-over-year, and 6.8% sequentially, largely as a result of the initiatives implemented by the Company in 2013.
Net earnings for the second quarter were $19.3 million, compared with $24.2 million during the prior-year period. This decrease resulted from lower gross
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Organo Gold Launches BrewKups In USA And Canada
by Ted Nuyten • • 0 Comments
Organo Gold, the gourmet coffee company that caters to consumers active lifestyles, today announced its entry into the brewed coffee category with the launch of its single serve BrewKupTM, the first OG product endorsed by Greg Norman, Former World #1 golfer and global entrepreneur. Norman and his company, Great White Shark Enterprises, entered into a global partnership with Organo Gold in October 2013.
“Entering into the brewed coffee category is a natural step in Organo Gold’s evolution,” stated Bernardo Chua, Chief Executive Officer and Founder of Organo Gold. “As we continue to expand our global footprint and extend our brand reach, it’s critical that our Distributors and customers have product options that are in keeping with OG’s lifestyle commitment.”
“The BrewKupTM addition to the Organo Gold product line is a natural fit with OG’s global culture — offering choice, convenience and simplicity and I am excited to be a part of this new energy within Organo” added Greg Norman.
BrewKupTM is Organo Gold’s single cup brewing system that is designed for use in most popular single-serve coffee makers. Organo Gold enters the market with two exclusive product collections infused with Ganoderma: Black Gold and Premium, which includes both Toasted Hazelnut and Chocolate Almond.
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Zeek Rewards – Former Management Agrees To Pay $600 Million Back
by Ted Nuyten • • 0 Comments
As first reported by Behind MLM, Paul Burks, Dawn Wright-Olivares and Daniel Olivares have agreed to pay $600 million back to the Zeek Rewards receiver.
In his status report for the second quarter of 2014, Receiver Kenneth Bell has revealed that: “By the filing date of this report, the Receiver had reached settlement agreements with Paul Burks, Dawn Wright-Olivares, and Daniel Olivares, pending Court approval.
Each of these defendants agreed to a consent judgment of $600 million to be satisfied with substantially all of their assets.
How the $600M figure will be paid back, in particular who is paying what amount, is unclear. Ditto how much of the judgement will be distributed to the scheme’s victims by the Receivership.
What is clear though is that it appears to be a lump sum, and after it’s paid – those primarily responsible for the creation and operation of the Zeek Rewards Ponzi scheme will have absolutely nothing left to show for it.
Full story: Behind MLM
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Zeek Rewards Leaders Outside The USA Will Face Legal Proceedings
by Ted Nuyten • • 0 Comments
How the Zeek Rewards Receivership intends to go after Zeek investors who are outside of the USA, has made clear in his status report for the second quarter of 2014.
Receiver Kenneth Bell:
Counsel for the Receiver prepared a request for proposal, which it distributed to a select number of law firms in countries where the largest ZeekRewards net winners reside.
The Receiver Team has been in discussions with multiple overseas law firms regarding the logistics, strategy, and costs involved with pursuit of net winners residing in these firms’ various countries.
Claims against foreign net winners will likely be grouped by the country in which these individuals reside, with some actions being initiated here in the Western District of North Carolina and other actions being filed in the foreign net winners’ home countries.
The Receiver is evaluating the most efficient means of pursuing these individuals that will generate the greatest possible return for the Receivership Estate.
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Why Narcissists Make Good CEOs
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Though they might not do much for employee morale, narcissistic CEOs can do wonders for companies’ bottom lines, new research finds.
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When Customer Loyalty Isn't Enough, Turn to Word-of-Mouth
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According to a recent survey by digital business solutions provider Huzzah Media, repeat customers and word-of-mouth referrals are the best sources of revenue for 80 percent of small businesses.
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Amway Sues Sony
by Tina Williams • • 0 Comments
Amway is back in court over a dispute with record companies tied to a copyright infringement case settled 16 years ago.
The multi-level marketing giant is suing UMG Recordings Inc., Sony Music Entertainment and Warner Music Group Corp., for violating a 1998 settlement, which required them to provide notice of copyright infringement allegations by Amway distributors so the Ada-based company could investigate and stop them, reportsLaw360.
Instead music companies worked together to conceal the information for at least 18 months before ambushing Amway with numerous complaints, according to the suit filed by Amway’s parent company, Alticor Corp., in April in Orlando, Fla.
Earlier this month, a federal judge in Orlando declined to throw out the case but narrowed the copyright-related suit, Alticor Inc. v. UMG Recordings Inc., according to Bloomberg.
“Amway is pleased that the Court upheld our filing of the breach of contract claim and that the case will continue to move forward,” the company said in a statement to MLive. “We remain confident in our case and our efforts, including policies and training programs, to educate employees and distributors about the proper use of copyrighted materials.”
In 1998, Amway agreed to pay $9 million to settle a lawsuit that alleges Amway and some of