Hedge fund manager Bill Ackman has two words to sum up his Herbalife Ltd. (HLF) presentation last week: “My bad.”
Investors may have missed the point because the event was long and overhyped, Ackman said in an interview. Even the private researcher who helped convince Ackman the company is an illegal pyramid scheme now says the details of a two-year investigation into Herbalife’s nutrition clubs were largely ignored.
Ackman had promised to show an Enron-style fraud during the event. Instead of dumping the stock, investors sent the shares up 25 percent after the presentation, marking the biggest one-day gain in the history of the company. Ackman’s firm, Pershing Square Capital Management LP, bet $1 billion against the stock in 2012.
“It was a PR failure,” Ackman said. “I think we raised expectations. People were looking for the dead body and the smoking gun and instead what they got was a three-hour detailed regulatory presentation.”
The shares declined 6.1 percent to $52.40 at the close in New York.
Lost amid the earlier share gain was research that offers evidence of an elaborate and secretive illegal recruiting system, said Christine Richard, a former journalist who helped Ackman present material at the New York event.
William “Bill” Ackman, founder and chief executive officer of Pershing Square Capital
Tag Archive for News
Hot Business News Today
ViSalus Honored With Kaltura Innovation Award And Four Telly Awards
by Tina Williams • • 0 Comments
ViSalus, Inc., the company behind the #1 90-Day weight-loss and fitness challenge platform in North America, took home a Kaltura Innovation Award for ‘Best Designed Video Experience’ for the release of their Vi-Net Pro application as well as four coveted 2014 Telly Awards for excellence in video production.
The Kaltura Innovation Awards celebrate cutting-edge and exciting applications of video, and recognized ViSalus as their 2014 ‘Best Designed Video Experience’ at Kaltura Connect, The Video Experience Conference held June 16-18 in New York City. Kaltura Connect remains at the forefront of video technology and acknowledged the Vi-Net Pro application as an innovative and premier mobile experience.
The company, whose mission is built around challenging others, took on its own Challenge and competed against 12,000 worldwide entries at the 34thAnnual Telly Awards— and won. For over a quarter century, the Telly statuette has been recognized as the premier award honoring the finest film and video productions, groundbreaking web commercials, and outstanding local, regional and cable TV commercials and programs.
ViSalus was honored with four Telly statuettes in the categories of: Online Video, Infomercial, Sales Program, and Live Event Segment.
“We love to innovate at Vi, and we are proud of creating and producing the highest quality programming
Hot Business News Today
Empower Network Expects 5,000 Attendees At Orlando Event In October
by Tina Williams • • 0 Comments
Blogging and leadership company Empower Network announced today that it has chosen Orlando and the Hyatt Regency Orlando at 9801 International Dr. for the location of its last quarterly conference for 2014.
The company expects up to 5,000 attendees at the October 23-26 event.
“The event and the location cannot be missed,” said CEO Jonathan Cronstedt. “Orlando has much to offer for our conference, including supplemental incentives like the area attractions, entertainment and dining options. We want our affiliates to better themselves and enjoy their time while attending these events; Orlando is the perfect place to achieve both.”
Attendees will learn about company products and hear members of the leadership team speak, and the newest members of Empower Network’s Millionaire’s Club will receive recognition. Empower Network also plans to donate time and money to a local charity during the quarterly conference.
In June, Empower Network hosted a training event in Charlotte with 2,300 attendees.
Empower Network also hosted a regional event in Orlando in October 2013. The 2013 event saw 2,000 attendees and brought in an estimated $2.64 million in economic spending for the Orlando area.
Empower Network deals with web, marketing and leadership tools for individuals looking to build businesses. With these tools, they don’t have to deal with many
Hot Business News Today
Vemma CEO Responds To Accusations In The Media
by Ted Nuyten • • 0 Comments
BK Boreyko, CEO Vemma, reponds to accusations in the media in the next statement to Vemma Elite members:
“Last year, together we accomplished something only 18 out of the thousands of networking companies in the world did – we GREW by $103 million to finish at $221 million! This marked the biggest, most successful company in my career. It just figures when you’re bigger than ever, you’ll receive more negative attention than ever. I don’t understand why success attracts negativity, but it always has and I guess it always will.
The recent media coverage on Vemma has been disappointing. Our strategy to move to affiliate marketing and improve our business model was designed to make our opportunity more attractive. Well, I learned early on to turn my disappointments into determination. I don’t know what fires you up, but hate towards what we do and who we help is my fuel for the future!
Let’s talk a bit about the media and their view on what we do. Recently, the producers from the Today Show asked for comments on these topics below and our answers were on point. Some of the topics made it into the show, some didn’t. Below I’ve expanded our responses
Hot Business News Today
ForeverGreen VP Attends Standing Room Only Events
by Nicole Dunkley • • 0 Comments
ForeverGreen Worldwide Corporation, a leading provider of nutritional foods and other healthy products, announced today that Vice President of Business Development, Rick Redford visited several Russian speaking meetings recently.
Rick Redford commented, “The meetings in Russia and Kazakhstan were a huge success. Not only were they well attended, and standing room only in most cases, the attendees were trained on everything from product details to business skills to goal setting and beyond. The members are united with others across the world in putting Power Strips on over a 1,000,000 people during the first weekend in August. I believe we will see positive results from these meetings for months to come.”
International meetings like the recent events in Russia and Kazakhstan are part of ForeverGreen’s strategy to support steady market expansion across Europe, Africa, Asia and South America. Members of the ForeverGreen executive team have been consistently on the ground with local leaders to ensure that infrastructure is in place to keep pace with increasing product demand.
About ForeverGreen Worldwide
ForeverGreen Worldwide Corporation develops, manufacturers, and distributes an expansive line of all-natural, whole foods and products to North America, Australia, Europe, Asia, and South America, including its new global offerings, PowerStrips and SolarStrips. ForeverGreen Worldwide
Hot Business News Today
4Life’s New New Health Sciences Advisory Board Member
by Nicole Dunkley • • 0 Comments
4Life’s Chief Scientific Officer Chris Lockwood, PhD, CSCS, appointed Mei-Ling Siu-Caldera, MD, PhD, as the newest member of the company’s Health Sciences Advisory Board (HSAB).
Dr. Siu-Caldera was born to Chinese parents in Nicaragua. She graduated with her medical degree from the University of San Carlos, Guatemala, and received her PhD in Nutrition from the University of Connecticut, Storrs.
She has done extensive research involving vitamin D and women’s health while at Brown University School of Medicine, and taught Nutrition at the University of Connecticut for more than ten years. Presently, she has a private practice as a Nutritionist.
Dr. Lockwood: “It is with great honor that I welcome Dr. Mei-Ling Siu-Caldera to our 4Life HSAB. Her research is quite extensive, with more than 20 peer-reviewed papers of which she is a lead or co-investigator. She has specific expertise within the area of vitamin D research; both in the identification of new, biologically active metabolites of vitamin D as well their respective effects within various research models.”
4Life’s HSAB supports the 4Life Research and Development mission of being an industry leader in dietary supplementation, substantiation, and education. Among 4Life’s HSAB responsibilities are product formulation and evaluation, scientific study design and interpretation, and technical
Hot Business News Today
WorldVentures Becomes Member of Plano Chamber of Commerce
by Nicole Dunkley • • 0 Comments
WorldVentures, the leading international direct seller of vacation club memberships, is pleased to announce its membership in the Plano Chamber of Commerce. As a member of the Chamber of Commerce, WorldVentures is able to receive member-to-member benefits and member-to-community benefits including discounts between members and supporting the local economy.
“Joining the Plano Chamber of Commerce is a great step for WorldVentures,” Co-Founder and Chief Executive Officer Mike Azcue said. “We’re a fast-growing company and now we’re able to reach a larger audience while becoming more connected to our community. And, we’re looking forward to sharing with those in the north Dallas area why our DreamTrips Vacation Club was named “World’s Leading Travel Club” at the 2013 World Travel Awards.”
“WorldVentures is dedicated to helping our Independent Representatives blend great life experiences with the opportunity to earn extra income doing something they love, and to help others improve their lives.”
As a member of the Plano Chamber of Commerce, WorldVentures will join other well-known companies that work promote local economic growth. Displays and information about WorldVentures will also be located in the Resource Center for anyone stopping into the Chamber’s location.
About WorldVentures:
WorldVentures is the leading international direct seller of vacation club memberships. WorldVentures
Hot Business News Today
Reliv 6.2% Decrease In Q2 – 2014 To $14.5 Million
by Nicole Dunkley • • 0 Comments
Reliv International, Inc. (NASDAQ: RELV), a maker of nutritional supplements that promote optimal health, today reported its financial results for the second quarter of 2014.
Net sales for the quarter were $14.5 million, a 6.2 percent decrease from the second quarter last year. Net U.S. sales totaled $10.8 million, down from second-quarter 2013 net sales of $11.8 million. Net sales outside of the United States increased 1.8 percent in the second quarter of 2014 compared to the prior-year quarter, buoyed by a sales increase of 14.5 percent in Europe.
The net loss for the second quarter of 2014 was $289,000 or $0.02 per diluted share, compared to a net loss of $214,000 or $0.02 per diluted share in the 2013 second quarter. The loss from operations for the second quarter of 2014 was $475,000 compared to a loss of $222,000 in the same quarter of 2013.
Net sales in Europe increased to $2.24 million in the second quarter of 2014 compared to $1.96 million in the prior-year second quarter. “Europe continues to lead all markets in growth,” said Robert L. Montgomery, chairman and chief executive officer of Reliv. “The second quarter of 2014 marked Reliv Europe’s 19th consecutive quarter of increased net sales when
Hot Business News Today
Building A Global Empire One Ripple At A Time
by Nicole Dunkley • • 0 Comments
Kathy Aaron’s career as a full-time, professional networking leader spans nearly two and a half decades. The philosophies she’s learned along the way from industry gurus like Napoleon Hill and Jeff Olson are ever-lasting truths that she says, “Don’t change with time or circumstances. Instead, they are a blueprint for creating a life of joy and prosperity.”
“I believe we are all here to live up to the God given potential we have within us, and to make a difference in this world and in the lives of everyone we touch. This is what drives me and motivates me to continue to build large organizations, as it is in the synergy of the relationships we develop that more people achieve their goals and dreams,” Aaron says.
The clarity that exists within Nerium International’s leadership drew Aaron, a 3-Star National Marketing Director, and her daughter, Melanie, to the company. Who they are, where they are going and how they are getting there—Nerium knows. Something Aaron says is a “very unusual dynamic.”
“Nerium is not just a skin care company. It is a company that is committed to making a difference and spreading a positive ripple,” Aaron says.
“We create a family atmosphere so everyone
Hot Business News Today
Enfiniti Global Begins Nationwide Network Marketing Of Energy Products For Entrust Energy
by Tina Williams • • 0 Comments
Enfiniti Global, Inc. began marketing energy products for Entrust Energy, the fastest-growing Retail Electricity Provider in ERCOT (Electric Reliability Council of Texas) and one of the Top 30 in the United States. In addition to marketing electricity in ERCOT, Enfiniti Global is selling electricity and natural gas in the Chicago area and natural gas in the PG&E market in Northern California. Enfiniti Global plans to launch electricity marketing in New York City within days.
Enfiniti Global’s Compensation Plan for independent distributors features a No-Fee model to become and begin marketing as a distributor. “Our energy network marketing competitors in Texas charge between $299 and $429 to become a distributor. We charge $0, so we succeed when you succeed. Join without paying a fee, and you immediately have a personalized website for your energy marketing business,” says Jason Borne, Vice President Sales & Marketing, Enfiniti Global.
Enfiniti Global also sells Enfiniti RECs (renewable energy certificates). On behalf of customers, Enfiniti procures, retires, and manages a customer’s monthly commitment to alternative renewable energy. Each monthly certificate features exclusive renewable artwork elements from industry artist, William H. Miller.
Entrust Energy is a retail energy provider known for reliable customer service and competitive rates. “I’m extremely excited