It seems that Herbalife Chairman’s Club member and director Pedro Cardoso was involved in a private matter back in 1998. He says it’s no biggie; Brazilian prosecutors say it was a scheme to embezzle $10.4 million from a Brazilian state. So they indicted him 10 years later, which is apparently news to Pedro Cardoso, even though the Brazilians tried to let him know about it in 2010. Read more »
If he cared only for himself, he’d keep the secret of turning a pyramid scheme into a legitimate business to himself. But the Pershing Square chief is back in the black vis-à-vis HLF, and feeling generous. So, here’s his recipe for success, as laid out in a kindly letter to Herbalife’s new compliance chief:
Step One: Throw everything out.
Step Two: Start over and build something that doesn’t violate every law on the books and every clause of the constitution and every tenet of human decency. Read more »
For more than a year, Herbalife’s biggest booster got his kicks kicking Bill Ackman while he was down, gleefully touting how he had been proven right about the world’s favorite diet shakes time and time again, while the Pershing Square founder had been proven the opposite, also over and over again. But at the beginning of the year, it occurred to Tim Ramey that repeatedly sticking his finger in Bill Ackman’s eye is really no way to live, and that he should try to do something constructive with his life, like corporate consulting.
But as he’s watched Ackman’s hopes get up and then dashed once again, Tim realized it is foolish to deny one’s passions. And so while he’s keeping his office over at Post Holdings, he’s ready to publicly sing the praises of his favorite multi-level marketing company once again, giddily predicting just how much more money Ackman is going to lose. Read more »
Jordan Peixoto, friend/insider trading bud of worst roommate ever Filip Szymik, is ready to argue that the SEC’s administrative proceedings against him for insider trading, in Herbalife, are a violation of all of the U.S. Constitutional rights he learned about in Canadian civics classes. Read more »
10. Leaves dishes in the sink.
9. Fills DVR with Diners, Drive Ins and Dives and “Save All Episodes” option
8. Brings back strange men he/she met on the corner 5 minutes earlier.
7. Is late with the rent.
6. Eats your food.
5. Leaves Post-it notes on the bathroom mirror that read “Should I deduct $0.75 from your portion of the rent for the shampoo you used this morning?”
4. Repeatedly asks you if your girlfriend is single.
3. Invites the cast of Stomp over for a nightcap when you’ve got a big presentation in the morning.
2. Tells your mother she looks great and asks if she’s had work done since she last visited.
1. Trades on material non-public information you mentioned in passing and in confidence. Read more »