June 18, 1995
Re: "Concert Business Awaits the Word on Ticketing Issue" (May 30). Rather than outlaw exclusive contracts between event promoters and ticket distributors, I'd attack the fee arrangements as misleading advertising. It's a "truth in advertising" loophole that lets promoters advertise tickets at less than their actual price by splitting out the difference as a separate fee. As far as actual costs are concerned, I wouldn't be surprised if economies of scale let the distributors distribute tickets for less than it would cost the promoters to handle their own distribution.
January 10, 2013 |
NEW YORK -- The investor presentation featured protein shakes and granola bars, entreaties for more hugs in the world, and accusations of lies and snobbery, all to counter a $1-billion bet that Herbalife, the Southern California company, will soon go down the tubes. Who says Wall Street is more boring these days? The presentation was the latest move in a battle between Herbalife, which sells nutrition powders, bars and vitamins through a network of individual distributors, and Bill Ackman, founder and chief of Pershing Square Capital Management.
December 13, 1992
While James Bates wrote a balanced column ("Footnotes," Dec. 7) about my multilevel marketing business, he made one serious slip of the word that unfairly indicted my company. When he wrote, "Omnitrition is a 'multilevel marketing' company, in which distributors make money when they recruit other distributors," he inadvertently accused us of illegal activity. Not only is the statement absolutely wrong, making money strictly off recruitment, in fact, is against federal law. Omnitrition is a legal company providing part-time and full-time financial opportunities for thousands.
April 25, 2013 |
Herbalife Ltd., battling a billionaire investor's bet that its stock will tank, is expected to reassure shareholders at the company's annual meeting Thursday that the Los Angeles nutritional products maker is a strong, healthy, legitimate operation. The meeting at the Beverly Hilton comes amid lingering questions about Herbalife's future. For several months, two activist investors have put the company's core operation at issue. Bill Ackman has bet $1 billion that the company is a pyramid scheme that will fail, and Carl Icahn bought 15% of Herbalife's stock, wagering that its business is legally sound and will withstand Ackman's attack.
CALIFORNIA | LOCAL
November 26, 1996 |
Fifty years after its founders started doing business from a tent in the Avenue area of west Ventura, magazine distributor Schulze News Co. will close on Jan. 24. On Friday, company President Dave Schulze, 53, called the nearly 30 employees together at the headquarters on Palma Drive in Ventura to break the news. He cited competition among distributors as the reason for the closure. He said Schulze News Co.
May 3, 2013 |
Things are starting to get personal in the battle between hedge fund manager Bill Ackman and Herbalife Ltd., the Los Angeles nutritional products company he's accused of operating a long-running pyramid scheme. Herbalife spokeswoman Barbara Henderson said today that Ackman is making false allegations about the company because he's “increasingly desperate to distract the market from focusing on his J.C. Penney disaster.” Ackman's Pershing Square Capital Management owns nearly 18% of struggling J.C. Penney, which has seen its stock drop 12% this year.
December 12, 2013 |
Looking to bring an end to channels going dark as a result of contract disputes between broadcasters and pay-TV distributors, two lawmakers are proposing legislation that could radically alter the media landscape. Reps. Anna Eshoo and Zoe Lofgren, both California Democrats, on Thursday introduced the Video CHOICE (Consumers Have Options in Choosing Entertainment) Act, which was praised by pay-TV distributors and criticized by broadcasters. "My bill would put an end to broadcast television blackouts and ensure consumers aren't held hostage by a dispute they have no control over," said Eshoo, who is ranking member of the House Communications and Technology Subcommittee.
April 18, 2013 |
Marketers say they plan to increase spending on online brand advertising in a new report that comes just weeks before the major digital distributors are preparing to woo Madison Avenue in a series of advertising presentations. The new 2013 Online Advertising Performance Report, produced jointly by the CMO Council and the Nielsen Co.'s Vizu, a unit that specializes in measuring online ad effectiveness, found that advertisers are changing how they view the medium. Though they once used online primarily for direct response, marketers who responded to this year's survey said they plan to allocate more of their digital dollars to brand advertising that's used to promote a company, product or service.
October 23, 2013 |
It looks like former Los Angeles Mayor Antonio Villaraigosa, who we heard was intent on keeping his political options open when he left City Hall this summer -- a run for governor was mentioned -- has instead decided to go for the money. The question is how many conflicts of interest this onetime rising Democratic star can juggle at once. Villaraigosa's newest deal is an advisory contract with the big public relations firm Edelman. That's curious, because Edelman also handles PR for hedge fund manager Bill Ackman, who has been on a months-long campaign to bring down the Los Angeles multilevel marketing firm Herbalife Ltd. -- where Villaraigosa is also a paid advisor.
May 6, 2013 |
Herbalife Ltd. shares were up more than 5% Monday and had passed the price they were when hedge fund manager Bill Ackman accused the Los Angeles nutritional products company of operating a long-running pyramid scheme. The company's stock price plummeted Dec. 19 after Ackman publicly disclosed that he had taken a $1-billion short against its shares. Within four trading days of Ackman's announcement, the stock fell 43%, reaching $24.24 on Christmas Eve. The downswing created a buying opportunity for billionaire investor Carl Icahn, who now owns nearly 16% of the company's shares.