Selling Your Soul to Usana Health Sciences for $27,000 a Year

If you were going to join a multi-level marketing company like Usana Health Sciences (NASDAQ:USNA), what would your goal be? Would you aspire to be one of their million dollar earners? That sounds awfully prestigious, doesn’t it?

Well check out this excerpt from a recent press release by the company, and then catch my comments at the end.

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Naked Short Selling: A Complete Waste of Resources

Patrick Byrne Naked Short SellingThe issue of Naked Short Selling stocks (NSS) is getting some airtime, thanks to the likes of loony Overstock.com (NASDAQ:OSTK) CEO Patrick Byrne. He’s a crusader for NSS, claiming over and over that the practice almost destroyed his company. The sad truth is that NSS didn’t really do anything to Overstock.com. Byrne and his incompetent staff ruined the company all on their own, without any help from short sellers.

Still, it makes for interesting bedtime reading. I always love a good conspiracy theory.

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Are We Really Getting Tough on Financial Fraud?

Consumer outrage about “bailout madness” and the proliferation of Ponzi schemes and investment fraud is fueling a push for greater oversight and regulation. The government is talking tough, saying that there will be more prosecutions for financial fraud forthcoming..

That sounds good, doesn’t it? Of course we’re all in favor for more aggressively pursuing those who swindle others out of their savings or cheat the system. But while more prosecutions make good headlines, how realistic is this goal?

Currently, the rate of investigation and prosecution is very low. There simply aren’t enough resources to investigate all allegations of fraud. Even cases with all the proof ready for prosecutors often don’t make it into court for a variety of reasons.

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Jurors tweeting?

Our laws have not kept up with technology. Social media like Twitter (with users posting “tweets” for others to read) and Facebook are having a big impact on life, and the impact on the legal system is yet to be determined. The one thing I’ve observed related to the legal system and social media is that lawyers usually overreact about these things.

Take the recent situation with a juror tweeting. Attorney Anne Reed at Deliberations has an excellent summary of the situation.

Read moreJurors tweeting?

Does a Down Economy Cause an Increase in Fraud?

Two weeks ago the Association of Certified Fraud Examiners sent out a survey to members, attempting to determine whether a bad economy makes fraud rise. I’ve written about this topic before, and the truth is that there is no way for us to know.

People suspect that a poor economy causes more fraud, but it’s absolutely impossible to determine if that’s true. It sounds logical, but at the end of the day, no one will be able to prove how many frauds were “caused” by the state of the economy. Adding to the difficulty is the fact that many frauds are never discovered, so it’s clearly impossible to determine the reason behind the (undiscovered) fraud.

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The idiots in Milwaukee government have finally won

Wisconsin is one of the highest taxed states in the nation. If you live in Milwaukee, you’ve got it even worse. All taxes are through the roof… highest sales tax rate, highest property taxes, most “fees” that are nothing more than disguised taxes… Every time we turn around, a politician is looking for new ways … Read more The idiots in Milwaukee government have finally won

Awkward!

10 Potentially Sticky Work Situations and How to Manage Them Entrepreneur Magazine By Chris Penttila As an entrepreneur, you’ll run into sticky situations at work, whether it’s grumbling employees or distractions, that get in the way of productivity. Dealing with weirdness in the office is never easy, but it’s essential to running a successful company. … Read more Awkward!

In Agreement: Overstock.com Sucks and Patrick Byrne is Wacky

Patrick Byrne, CEO of Overstock.com O.coI’ve written plenty here about perpetual money-loser Overstock.com (NASDAQ:OSTK) and its wacky CEO Patrick Byrne. Unfortunately, I’ve mostly lost interest in the topic. Why? It’s the same old, same old.

Overstock.com continuously loses money for shareholders. Byrne pretends that profits are right around the corner. More money is lost. Dishonest accounting tricks are used to pretend the company made money. Financials are restated. More money is lost. Financials are restated again. More money is lost…

You see a pattern, I hope?

Read moreIn Agreement: Overstock.com Sucks and Patrick Byrne is Wacky