USA Today reports: Shares of Herbalife shot up more than 7% in late trading Wednesday after the energy drink company posted better-than-expected financial results for the second quarter.
Herbalife, which has been waging an ugly battle with billionaire Bill Ackman over the legitimacy of its business, posted profits of $1.24 a share on $1.16 billion in sales.
Sales were down 11% from a year earlier due to “unfavorable” currency exchange rates in certain markets, the company said. Still, Herbalife shares shot up close to 8% in after-hours trading because Wall Street analysts had expected the company to post earnings of $1.11 a share on revenue of $1.14 billion.
Ackman, founder of hedge fund Pershing Square Capital Management, placed a $1 billion bet on the stock’s decline in 2012 on the theory that Herbalife is a pyramid scheme — an allegation the company denies.
Ackman shorted the stock at around $47 a share and came close to
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Interview with CEO Of ONEHope Wine
by Ramya Chandrasekaran • • 0 Comments
Leaders magazine recently published an Interview with Jake Kloberdanz, CEO and Co-Founder, ONEHOPE Wine, and Katie Allen, National Director, viaONEHOPE.
ONEHOPE is a social enterprise that integrates causes into products and services to make a social impact. Products include award winning wine, gourmet coffee and memorable gifts that are sold through a community of Cause Entrepreneurs who help amplify the brand through the direct sales channel.
Jake, how has the business evolved?
Jake: The first stage was building our wine brand and we’re proud to have grown into one of the top 300 wineries by volume out of over 8,000 in the U.S. We just bought our first property and vineyard in Rutherford, Napa, next door to iconic brands like Robert Mondavi, Cakebread, and Opus One. It will soon be home to our flagship
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Primerica Reports Q2 2015 – Revenues Up 6% To $350.3 Million
by Nicole Dunkley • • 0 Comments
Primerica, Inc. (NYSE: PRI) recently announced today financial results for the quarter ended June 30, 2015. Total revenues were $350.9 million in the second quarter of 2015 and net income was $49.2 million, or $0.94 per diluted share.
In the second quarter operating revenues increased by 6% to $350.3 million compared with $330.3 million in the prior year period. Strong operating results were driven by growth in the Term Life segment including 14% growth in life insurance policies issued and a 10% increase in net premiums. The Investment and Savings Products segment continued to perform well with a 9% increase in product sales and 7% growth in average client asset values year-over-year.
Operating results reflect higher than historically incurred claims in the current quarter whereas incurred claims were lower than historical levels in
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Blanka Williams Achieves Highest Rank With DubLi Network
by Nicole Dunkley • • 0 Comments
DubLi Network, the world’s largest ecommerce direct selling company, today announced that Blanka Williams has reached the rank of Senior Vice President (SVP), the first woman to reach this important milestone and only the third SVP in DubLi Network’s 12 year history.
Michael Hansen, Founder of DubLi Network, stated, “Blanka’s ability to reach the Senior Vice President rank in only two short years with DubLi Network, her first foray within the network marketing business model, speaks volumes to the relevance and value of more women joining this industry more than ever before in its 95 year history.
In fact, in 2012, 82% of all women in the United States who earned USD$100,000 per year or more did so through the direct sales channel.”
“My advice to others who are just now discovering the direct
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Dexter & Tonya Scott Reach Global Director Rank With Total Life Changes
by Nicole Dunkley • • 0 Comments
Dexter and Tonya Scott were introduced to Total Life Changes by their brother and sister-in-law, Executive Ambassador’s Gregg and Lenika Scott in December 2013. They signed up to become Independent Business Owners but did absolutely nothing at the time. Dexter was the Head of Admissions for a company founded by President Dwight D. Eisenhower that traveled students all over the world, while Tonya had the most important job on the planet, being a stay-at-home mom.
Dexter was earning over $100,00 as the Head of Admissions, so they didn’t take this opportunity seriously until Dexter was laid off from his position in May 2014, which completely eliminated their only source of income. This layoff occurred two days before they were leaving the country for a vacation in Italy.
“We were devastated by the loss
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Nu Skin Q2 Revenue Down 13.8% To $560 Million
by Ted Nuyten • • 0 Comments
Nu Skin Enterprises, Inc. (NYSE: NUS) today announced second-quarter results with revenue of $560.2 million compared to $650.0 million in the prior-year period.
Revenue in the quarter was negatively impacted 7 percent by foreign currency fluctuations. Revenue in the second quarter of 2014 included $76 million in limited-time offer product sales, while there were no significant limited-time offers during the second quarter of 2015. Earnings per share for the quarter were $0.75, compared to $0.32 in the prior-year period which included a $50 million inventory write-down and a $25 million foreign currency charge related to Venezuela.
“We are pleased the business performed at the high end of our expectations for the second quarter,” said Truman Hunt, president and chief executive officer.
“Additionally, we are encouraged by growth in the number of sales leaders
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MLM On The Rise In South Korea
by Ramya Chandrasekaran • • 0 Comments
The number of multi-level marketing (MLM) firms operating in South Korea rose in the second quarter, the antitrust watchdog said Friday, as the government moves to better regulate such operators to prevent consumer damage.
According to the Fair Trade Commission (FTC), there were 132 MLMs in the country as of June 30, up seven from three months earlier. It said 11 new firms opened for business while four closed.
MLMs refer to companies where the sales personnel are not only compensated for selling products and services, but for the sales generated by the salespeople they recruit. Some companies have been discovered to exploit members and are viewed as illegal pyramid schemes.
The FTC said all new businesses signed consumer damage compensation contracts with official direct-selling mutual aid cooperatives. The agreements bind MLMs to conform to
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DubLi To File Law Suit Against Matt Trainer
by Ted Nuyten • • 0 Comments
Business For Home has received the following statement from Dubli Corporate:
Official DubLi Statement Regarding Matt Trainer Video:
As a company, DubLi will respond in the best interest of its shareholders, Business Associates, customers and employees to protect and preserve its reputation against unmitigated attacks. Fictitious stories concerning DubLi’s business model or its management team will be challenged.
As such, DubLi will be filing suit against Matt Trainer in response to his fabrications put forward in a video last week.
In keeping with its status as a public company under U.S. Securities and Exchange Commission guidelines, DubLi has a strict corporate policy against commenting on or forecasting conversion rates or any other financial benchmark.
The company has never, not to Mr. Trainer or anyone else, made any statements as to expected conversion rates. Nor has the company mentioned how DubLi may or may not convert in Mr. Trainer’s personal marketing system that he has attempted to sell
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Trévo Continues To Growth Worldwide
by Ted Nuyten • • 0 Comments
It’s been a busy summer for Trévo, as the company is just weeks removed from grand opening events in several new countries as well as the launch of a completely new system, including a brand new corporate website, new personal sites, and a new back office system.
TRÉVO’S Founders are Mark and Holli Stevens who have a proven track record of over 16 years as owners of a successful network marketing company. Mark and Holli have also been on the “other side of the table” as independent representatives, building organizations with tens of thousands of members.
This dynamic duo also possess nearly four decades of combined business ownership expertise.
The company also rolled out new features for Trévo Builder, a personal online system designed to help their Life and Health Coaches grow and operate
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Top Member Of Herbalife’s Legal Team Leaves Company
by Tina Williams • • 0 Comments
The NY Post reports: A top member of Herbalife’s legal team has left the building.
Jim Berklas, who was the associate general counsel and chief compliance officer of the Los Angeles company, on Monday joined the Barnes Group, a Connecticut aviation company.
Berklas spent seven years with the diet shake seller that activist Bill Ackman has bet $1 billion is a pyramid scheme.
Herbalife has vehemently denied the accusation.
The exit of Berklas comes less then three months after Herbalife disclosed a criminal probe into its business practices and said a number of top executives and distributors have been subpoenaed by the Department of Justice.
At least one of those distributors, a veteran member of its 60-person “Chairman’s Club,” has become a whistleblower with law enforcement, The Post has learned.
Berklas is the first senior exec to leave Herbalife