Herbalife Ltd., the nutrition company that hedge fund manager Bill Ackman has accused of being a pyramid scheme, posted a 10 percent rise in fourth-quarter profit and boosted its forecast as sales gained in China.
Herbalife Ltd., the nutrition company at the center of a battle between hedge-fund managers Bill Ackman and Carl Icahn, posted third-quarter profit that beat analysts’ estimates as sales gained in the Americas.
Herbalife Ltd. Chief Executive Officer Michael Johnson accused hedge fund manager Bill Ackman of “gross mischaracterizations” about the nutrition company’s direct-selling model as Herbalife executives mounted a point-by- point defense for investors.
Bill Stiritz paid scant attention to Herbalife Ltd. until a televised smackdown in January between billionaire hedge-fund activists Carl Icahn and Bill Ackman, who claims the nutrition company is a pyramid scheme. Icahn’s rebuttal convinced Stiritz to take a closer look.
Herbalife Ltd. said Chairman and Chief Executive Officer Michael Johnson was paid compensation of $10.3 million in 2012, a drop from the previous year when his pay was inflated by the value of stock awards.
Bonds issued by California school districts that defer billions of dollars in interest payments for decades are rallying to a five-month high as Governor Jerry Brown prepares to sign a bill limiting their use.
A majority of banks in the Southeast U.S. supervised by the Federal Reserve Bank of Atlanta remain troubled more than two and a half years after the recession ended, said Michael Johnson, senior vice president for supervision and regulation.