What is New with Usana Health Sciences?
Tracy Coenen has an excellent article about whether Utah Attorney General improperly endorsing Usana Health Sciences?
She makes the terrific point that the Attorney General, an elected position, is quite at odds with the Consumer Protection Division. Here a summary, but do read the entire article. It is excellent.
"Mr. Shurtleff talks about consumer protection and the responsibility of his office. He says about Usana and other “direct sellers”: “If you do it right, you do it legal, it is one of the greatest ways to help people realize the dreams of, of uh, and benefits and advantages of a free market system in the world today. And it is legal, and Attorneys General know this. And in fact Usana has a reputation around this country for being the ones that do it right. But I gotta tell you, you know that there are a lot of companies out there who don’t do it right. And, and we are constantly receiving emails and requests to go after and investigate many companies. What’s good to know is that with Usana as it stands today, when we get an email from somebody questioning it, all we have to do is write back and say they’ve been looked at and they’re a great company and they’re doing it right, and they’re doing it legal.”It sounds to me like Mark Shurtleff is giving both a legal opinion and an endorsement of Usana. In contrast however, Utah’s Division of Consumer Protection says the following:
If a pyramid promoter or recruiter tells you that the program has been examined and approved by the Division of Consumer Protection or any other state agency, know that the claim is not true! The Division of Consumer Protection does NOT approve any marketing programs. If such representations are made to you, please notify the Division.
Did you read that carefully? It says the Consumer Protection division does not endorse a marketing program, and neither does “any other state agency.” Yet Mark Shurtleff gives a clear and enthusiastic endorsement of Usana?"
Netx, Forbes also had some interesting news, regarding a criminal investigation into USANA.
"Last week, sources told Forbes.com that the FBI had launched a criminal investigation into the company. Usana says it isn't aware of any such probe. Meanwhile, Usana is suing Barry Minkow, a convicted felon-turned-fraud-buster, who penned a 500-page report alleging that the company's fantastic performance in recent years came not from selling vitamins but via a pyramid scheme that roped suckers into a multilevel marketing scheme from which few would be able to glean profits."
Next, Barry Minkow fired back at USANA, who accused him of shorting their stock without having borrowed it, and offered up his brokerage account records.
"The irony is that I do not even know how to naked short a stock, but that does not stop the multiple accusations that I have done so. Talk is cheap, so I will gladly turn over any banking or stock account information right now in exchange for total access to Usana’s general ledger - most notably the capital accounts and your “associate” list. Deal?"
Finally, this comment appeared on my posts about USANA,
"I am an outsider doing research for a article... i think in this case, it seems as though Minkow tried to make some quick cash with using his status as a report for wall street journal.....he put in some put options before unveiling the article in hopes to make money... that put his character back in a hole and now it seems that he continues to progress on this USANA matter, even though the steam of controversy it lost. The fact is the companies model is not unlike any other type of business... those that utilize the business process will be the most successful, those that do not do much will not make much and be asked to be in a youtube video for barry minkow. If i am in real estate and i do not prospect listings and buyers, i will not make too much money. I think the % of those with real estate licenses and the % of those that are making $ in real estate are far more daunting than USANA... Far far more. I have a real estate license and was under the impression that I would be able to make money... i have given minimal effort and being discouraged I have made no money.... lets question the real estate market? no lets question my tact and persistence. get it? I think Minkow is a little bummed that he let is selfishness get the best of him again... he is the guy getting pushed into the swimming pool and scratching and clawing before falling in. "Well, what do you think about all of this?
