March 12, 2014 |
The rancorous battle over Herbalife's business practices took a critical turn as the company revealed that it is being investigated by the Federal Trade Commission. Herbalife did not reveal details of the probe, but the Los Angeles nutritional products maker reiterated its long-held position that its business model is sound. The company has been the target of accusations that it operates a pyramid scheme. "Herbalife welcomes the inquiry given the tremendous amount of misinformation in the marketplace, and will cooperate fully with the FTC," the company said in a statement.
January 31, 2014 |
In July 2009, a year before his death at age 99, John Wooden was named by the Sporting News as the top coach in the history of American sports. Not many argued with the selection. Over his 29-year career he won 664 of 826 games for a winning percentage of .804. From 1964 through 1975 his UCLA Bruins won 10 NCAA championships, and UCLA's games drew higher TV ratings than most NBA games. Surprising as it seems, Wooden, arguably the most influential coach in basketball history, has never had a definitive biography until now. In "Wooden: A Coach's Life," Seth Davis, a senior writer at Sports Illustrated and studio analyst for CBS Sports, has written a virtual cutaway view of the history and evolution of basketball in the form of a biography.
CALIFORNIA | LOCAL
January 16, 2014 |
A brush fire near Pyramid Lake was contained Thursday before resources from the much larger Colby fire burning above Glendora had to be used, authorities said. The Pyramid Lake fire, reported at about 11:06 a.m., was burning near the intersection of the northbound 5 Freeway and Highway 138, Los Angeles County Fire Inspector Tony Akins said. After callers reported smoke in the area, crews soon discovered a trailer that was well-involved in fire that had spread to neighboring brush, but that had only burned less than a half-acre, officials said.
December 19, 2013
Steve Alford opened his first news conference as UCLA basketball coach by saying taking the job was easy. "It goes back to four letters, U-C-L-A," Alford said. "I think if it is anywhere else, this is not a decision that would have been made. " Yet, what those four letters mean is open for interpretation as the NCAA championship banners in the Pauley Pavilion rafters continue to fade with age. UCLA was once prime real estate in the college basketball world. The Bruins have 11 national titles, 10 won by Coach John Wooden between 1964 and 1975.
December 18, 2013 |
A year ago, activist investor Bill Ackman rocked Wall Street with a $1-billion bet that shares of Herbalife Ltd., the Los Angeles seller of weight-loss and nutrition products, would slide to zero. Herbalife was a "pyramid scheme," bound to be undone by regulators and destroyed, he told the Los Angeles Times and other media outlets Dec. 19. Herbalife shares plummeted 42% in the next five days, hitting a midday low of $24.24 on Christmas Eve. At the time, it seemed that 2013 would be difficult for Herbalife.
December 3, 2013 |
Herbalife Ltd. said a Belgian appeals court has overturned a lower court finding that the company operated an unlawful pyramid scheme. Critics of the Los Angeles nutritional products company had said the 2011 ruling in Belgium was evidence that the company improperly rewards its independent sales people for recruiting others into the business. Herbalife said in a statement that a Belgian appeals court ruled that the company's sales model "is in full compliance with the law. " PHOTOS: Top 10 Southern California companies "Herbalife always believed that the first judgment contained factual errors and was based on misinterpretations of its direct-selling sales method, and was confident that the original judgment would be overturned on appeal," Herbalife said in a statement Tuesday.