The promotional attack machine used to bring Herbalife Ltd. (NYSE:HLF) to its knees is now targeting Anthony Powell, one of the nutritional supplement company’s top distributors.
The Pershing Square Capital operated website has, under the subsection “perpetrators,” a profile of Anthony Powell, an aggressive entrepreneur highly successful at closing deals to build an Herbalife distribution network of over 16,000 distributors under his domain. Powell used this aggressiveness to become one of Herbalife Ltd. (NYSE:HLF)’s top distributors, in some years earning nearly half a million per year. The problem is, on Ackman’s Herbalife attack website Powell is accused of making get rich quick promises using a pyramid scheme to build his fortune.
In 2002, NWTW, Herbalife, Powell, and other senior Herbalife Ltd. (NYSE:HLF) distributors were sued in a class action in federal district court in Los Angeles. Plaintiff alleged that Herbalife and NWTW constituted a pyramid scheme and that the defendants were committing fraud and securities fraud by making deceptive earnings projections and omitting and misrepresenting the risks inherent in the business.
Plaintiff further alleged that “Powell, along with other of the defendants, conceived, authorized the use of and operated the Lead Generation System known as ‘The Newest Way to Wealth.’”I Herbalife settled the case for $6 million in 2004.
“Dream
Monthly Archives: June 2014
Hot Business News Today
The Bill Ackman Contradiction
by Tina Williams • • 0 Comments
Over the last year I’ve been reporting on the battle between hedge-fund manager Bill Ackman and Herbalife. Bill Ackman has made very little, if any, progress in his attack. Each time he comes at Herbalife with something that looks potentially disastrous, Herbalife returns with further proof that Bill Ackman is wrong. This has no longer become a matter of whether Herbalife is selling good products (the question has never come up once, strangely) or whether they have a good pay plan, or even what their training programs are like.
The main issue, for Bill Ackman, has always been that Herbalife is a pyramid scheme, focusing on only recruiting individuals to make money. The hypocrisy seems to alude individuals paying attention to the ongoing and unforgiving battle. Bill Ackman’s only products offered by his own company is based on one sole result; money. His sole job is to take money and turn it into more money. He’s the CEO of Pershing Square Capital, a company that’s only product is money. Sure, he considers himself an ‘activist investor’ but that alone can seem like an oxymoron to many, especially those who could never afford the Harvard education he received and millions he himself invested to
Hot Business News Today
Who Wants to Do Business With Difficult People?
by Successful IBO • • 0 Comments
Here are your latest and greatest tweets that helped me run my small business last week. #tweetsoftheweek
Hot Business News Today
Positive response for flexible working legislation
by Successful IBO • • 0 Comments
The extension of the right to request flexible working hours to all staff has been welcomed by a prominent HR trade body.
Hot Business News Today
Young Living Essential Oils – 530,000 Active Members
by Ted Nuyten • • 0 Comments
Young Living, the World Leader in Essential Oils, officially surpassed the 1,000 employee milestone this month.
The company plans to continue adding additional jobs at its global headquarters in Lehi, Utah, and 12 international offices, as well as expanding its global farms to meet growing demand for its products.
“This is a great milestone, which underscores the amazing growth we are experiencing as a company. This growth is exciting because it means more and more people are enjoying the benefits of Young Living’s unmatched products,” said Young Living’s Chief Operating Officer Travis Ogden. “More than 20 years ago, our founder Gary Young envisioned taking these products to the world, and that continues to be realized more every day.”
Young Living’s diverse employee talent—from the scientists working in the state-of-the-art research labs to the expertly skilled farmers on seven botanical farms around the world—is a vital part of Young Living’s proprietary Seed to Seal® process, which ensures that the highest quality standards are used from the seeds planted to the sealed product.
In addition to the 1,025 company jobs provided, Young Living offers more than 530,000 active members around the world the opportunity to build a Young Living business and provide an income for
Hot Business News Today
Tax Reform and Your Small Business
by Successful IBO • • 0 Comments
Every couple of years utterances of the implementation of a flat tax emerge. In fact, in a tax seminar during the early 1990s, a well-revered speaker made one of those mark-my-words predictions that the flat tax would be operational within the next few years.
Hot Business News Today
The Secrets to a Great Slogan: Creativity and Clarity
by Successful IBO • • 0 Comments
While slogans can help build brand awareness and likability, they don’t always resonate with consumers.
Hot Business News Today
6 Tax-Prep Steps to Take Now
by Successful IBO • • 0 Comments
The year isn’t even halfway over, but that doesn’t mean it’s too early for businesses to be thinking about their taxes.
Hot Business News Today
The Small Business Expert Busts Top 3 Legal Myths
by Successful IBO • • 0 Comments
Attorney, author and The Small Business Expert Susan Solovic says too often would-be entrepreneurs get stalled by legal myths that can be debunked with a little help from a pro and a smart spending plan.
Hot Business News Today
One Way for a Startup to Blow its Chances With a VC
by Successful IBO • • 0 Comments
Should you ask all prospective investors to sign a confidentiality agreement before providing details about your company’s plans for growth? My fast answer is NO! Here is why.