Supporters of Usana Health Sciences have suggested that Usana’s invitation to ring the Nasdaq closing bell earlier this week somehow gives the company credibility. As if Nasdaq is somehow endorsing Usana, its business model, and the questionable integrity of the […]
Larry Lupton of UGL Equis Corp has been charged with wire fraud and corruptly soliciting an improper payment for seeing a $75,000 kickback. He was offering confidential bid information related to the sale of a $30 million building, and wanted […]
The Wall Street Journal ran a story this morning about another product-based pyramid scheme, Mannatech. The company is a typical multi-level marketing company (MLM). They have a product (generally overpriced and of marginal quality), but the “real” business is in […]
In order to complete the record, I’m posting here the first four Yahoo message board postings by the alleged Usana insider. The insider has been revealing some pretty interesting things, and time will tell if these are fact or fiction…
Sam Antar has been going over the SEC filings done by Overstock.com, including the 10-Ks and 10-Qs. They are “the gift that keeps on giving,” apparently. Sam asks the following questions: The Overstock.com 10-q for the quarter ended 03/31/07 contained […]
In 2005, the Washington County board agreed to pay $4 million dollars to Cabela’s Inc., in exchange for Cabela’s building a store in Richfield. If you don’t know anything about Cabela’s… it’s the worlds largest direct marketer of outdoor gear. […]
Since I have gathered quite a following from the pro-MLM and anti-MLM people alike, I thought this would be a great piece to mention. Of course, I found it because Lee linked to me first. Lee Distad’s opinion on multi-level […]
The saga of the Usana Health Sciences insider continues. In essence the insider alleges that Usana had $22 million in income tax expense for 2006 (confirmed with the 10-K), paid about $13 million of that, leaving a $9 million income […]
Today the Securities and Exchange Commission filed a lawuit against Kan King Wong and his wife Charlotte Ka On Wong Leung, both of Hong Kong. The SEC lawsuit alleges that between April 13 and April 30, they bought 415,000 shares […]
How long are Myron Wentz, Dave Wentz, and Gil Fuller going to carry on this charade? From the Usana Health Sciences 10-Q from the first quarter of 2007: During the first quarter of 2007 we received some negative press due […]
