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- USANA Health Sciences Inc. Q3 2008 Earnings Call Transcript
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levcommunique
1 Comment
USANA Health Sciences: A Bad Case of MLM?
First of all, I'd like to apologize for any spelling or grammatical error in my comment here. I come from Malaysia and English is not my first language.
Anyway, in regards to your comment, "I was one of thousands who were dragging down the company's distributor earnings ratio"... I am one of them too. Now is the saddest moment to those people that are really touched by USANA's products.
I am one of many persons who open three business centers (BCs) as a USANA associate, but never really run the business. I have my own reason to do that. To open 3 BCs, all I need to do was to buy 14 sets of Essentials and RM99 (USD29) for distributor kits (planner, catalogue, etc). But prior to that, I already know that the Essentials' expiration period will last more than 14 months. So I figure, rather than buying one Essentials for one month and only have 1 BC, I'd just buy 14 of them, get 3 BCs and consume them myself before they expire. Bottomline, it only takes me USD29 to open 3 BCs because I don't throw away the Essentials. I consume them all myself.
And now that I've consumed the nutritions for 3 months, I experience improvement in my health condition. But the thing is, my 3 BCs are still idle. Still not looking for prospects. But I am still enjoying the products and happy enough because I am going to consume it anyway. The 3 BCs are merely like a bonus to me, waiting for me to run it.
Well I guess this is the dark side of capital business. Maybe network marketing company shouldn't be public listed anyway. As the share price goes up & ripe, there will be people like Mr Minkows, who knows where to find USANA's competitors & cheated distributors, and use them to support his points. As the share price goes down, he smiles because he already bought 'put' options on USANA's stock. But the thing is, unfortunately, USANA did also make 'unreasonable mistakes' on the credibility of it's big management personnels like Dr Dennis Waitley, Dr Timothy Woods, Dr McNamara and a couple more. That one is tough... really really tough... *sigh*
Rahman