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Monday, April 29, 2013

Herbalife Slips Despite Raising Guidance - TheStreet

Herbalife Slips Despite Raising Guidance - TheStreet:
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Herbalife Slips Despite Raising Guidance

Stock quotes in this article: HLF 
NEW YORK (TheStreet) -- Herbalife (HLF_) shares dipped 0.3% to $38.63 after the market closed on Monday despite the company beating Wall Street's first-quarter estimates and raising earnings guidance.
The nutrition specialist reported revenue of $1.1 billion, a 17% increase over the prior year's quarter, topping analysts' estimate of $1.07 billion. Herbalife also enjoyed worldwide volume growth of 13% compared with the same period last year.
Excluding items, Herbalife earned $1.27 a share, up from 88 cents a share in the prior year's quarter. Analysts surveyed by Yahoo! Finance were looking for earnings of $1.07 a share.
The Los Angeles-based firm, which has recently faced accusations that it's a pyramid scheme, also raised its 2013 guidance to between $4.60 and $4.80 a share. Previously, the company had forecast earnings between $4.45 and $4.65 a share. Excluding items, analysts surveyed by Yahoo! Finance were looking for earnings of $4.66 a share.
For its fiscal second quarter, Herbalife expects earnings between $1.14 and $1.18 a share. Excluding items, analysts are looking for earnings of $1.26 a share.
"Herbalife continues to deliver record results in sales and profitability as our independent distributors go deeper into existing markets, developing more and more customers using our nutrition products every day," said Michael Johnson, Herbalife's CEO, in a statement released after market close.
Herbalife shares closed up 1.25% at $38.75 during Monday's session.
-- Written by James Rogers in New York

10 things vitamin makers won’t say

10 things vitamin makers won’t say

10 things vitamin makers won’t say

We peel back the label to see what nutrition-in-a-bottle is really worth

April 28, 2013|Elizabeth O'Brien

1. “We overwhelm you with choices.”
There are more than 54,000 dietary supplements on the market, sold under 1,000 different brands, according to consumer groups. Indeed, the Food and Drug Administration defines a supplement broadly, as an ingestible product containing a “dietary ingredient,” which may include vitamins, minerals, herbs or other botanicals, amino acids, and substances such as enzymes, organ tissues, glandulars and metabolites. And the industry is growing. Sales hit more than $30 billion in 2011, according to a report released last month by the Government Accountability Office, up from about $25 billion in 2009.
Faced with so many choices, how can consumers find a safe product? Heather Mangieri, a registered dietitian in Pittsburgh and a spokesperson for the Academy of Nutrition and Dietetics, a trade group representing food and nutrition professionals, gives her clients tips on navigating this fragmented market. Look for supplement makers that have scientific advisory boards listed on their websites, she says.
Another good sign is a gold “USP Verified” stamp on the label, showing the product has the approval of the U.S. Pharmacopeial Convention, an organization that tests supplement quality. (The absence of a USP mark doesn’t necessarily mean the product isn’t up to snuff, she notes, since some companies may choose not to pay for the verification process.)
When in doubt, call the manufacturer. It’s a red flag if you can’t reach a human being who can answer questions, experts say, and an even bigger one if there’s no contact information on the packaging.
2. “Medications can’t be sold without FDA approval, but our products can.”
The FDA regulates supplements, but differently than prescription and over-the-counter drugs. Manufacturers of the latter must prove safety and efficacy before new products reach the market. By contrast, manufacturers generally do not need FDA approval before producing or selling dietary supplements, as long as the ingredients they’re using were marketed in a dietary supplement in the U.S. before the Dietary Supplement Health and Education Act of 1994 was passed. Manufacturers using “new dietary ingredients” not marketed before that law passed must notify (but not necessarily get approval from) the FDA before selling the product, and must submit materials showing the ingredient is “reasonably expected to be safe” — according to the manufacturer’s own assessment.
The FDA oversees supplements after they hit the market, and the government requires manufacturers to report all serious adverse events like a heart attack or stroke associated with the use of their supplements. Consumers can search the FDA website for warning letters it has sent to supplement makers in violation of its regulations, but there’s no searchable database for adverse event reports.

Accidental outlaw Willie Nelson celebrates 80th - Yahoo! Music

Accidental outlaw Willie Nelson celebrates 80th - Yahoo! Music:
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Accidental outlaw Willie Nelson celebrates 80th

NASHVILLE, Tenn. (AP) — America loves its outlaws, and few are as admired and lionized as Willie Nelson.
As the enduring American icon's 80th birthday has approached, he's been honored with lifetime achievement awards, serenaded at special performances and saluted by musicians from every genre of music. And Nelson has taken it all in with a bemused smile.
"It's a nice thing to do for someone on their birthday and I appreciate it," Nelson said in a recent interview aboard his bus. "Usually I like to forget my birthdays as much as possible."
The hubbub is as much about celebrating Nelson as it has been celebrating with Nelson.
The singer whose birthday is Monday or Tuesday — Nelson says April 29, the state of Texas claims April 30 — occupies a unique space in America's cultural memory. A walking bag of contradictions, he wears his hair long in braids and has a penchant for pot smoking, yet remains arguably conservative country music's greatest songwriter. He's accepted by left and right, black and white and is instantly recognizable to a majority of Americans.
Like few other music stars, his image has grown to represent more than the notes he's played or the lyrics he's written. Like Elvis Presley, Johnny Cash or Frank Sinatra, he's become a figurehead for a uniquely American way of thinking. He represents the outlaw and the maverick. If Elvis was all about the pelvis and the sexual revolution, Nelson is American independence: the raised middle finger tossed with a twinkle in the eye.
"America is a bizarre place and Willie is our captain," said Jamey Johnson, Nelson's good friend and sometimes opener. "Willie in every way represents all the greatest things about America to me."
Nelson didn't set out to be a folk hero, as Charles Kelley of Lady Antebellum calls him. He spends something like 200 days on the road still, a pace that challenges men a quarter his age.
In a series of interviews over the last year, Nelson explained he just came to Nashville wanting someone to buy his songs. That young man never imagined he'd be on the road for more than 50 years. His first real songwriting job paid $50 a week. He played — and sometimes slept — at Tootsie's on Lower Broadway in Nashville, just a few miles — but really a million miles — away from Music Row.
Nelson thinks that young man wouldn't know what to make of the spectacle he's become.
"He'd probably wonder what's that old man doing out there," Nelson said with a chuckle. "He's got a house. He's not homeless. Why don't he go home?"
The truth is Nelson is home as he sits at the pleasantly cluttered kitchen table of his bus. With its portrait of an American Indian on the side and its reputation for mellow encounters, the bus is as much a part of Nelson's mythos as his braids and battered old guitar.
An invitation to join Nelson on the bus is coveted.
"I've never smoked weed ever in my entire life," Lady A's Hillary Scott joked. "But if I got invited on the bus I might have to make a concession just because of purely what it is, what it represents."
For Nelson, it's a refuge, office, songwriting room and parlor where he hosts friends and band members for morning coffee.
"I've lived in this house longer than I've lived in any of the others, all combined," Nelson said glancing around. "I feel at home here. It moves around. I have a mobile home. That's about the size of it, and I enjoy it."
Nelson has pursued this nomadic lifestyle for more than four decades, almost unchanged. The personnel in the band has remained the same. Until recently, harmonica player Mickey Raphael was pretty much the new guy. He recently celebrated his 40th anniversary with Nelson, though he's not exactly sure when that date fell.
"I was never officially hired," Raphael says with a grin, "but I was never asked to leave."
Nelson hangs onto his buses till they're over a million miles, still wears a black T-shirt and that red, white and blue guitar strap. His children grew up on the bus and now they play in his band from time to time.
So, to paraphrase Waylon Jennings, the outlaw thing's been overdone. All he wanted to do was play his own music the way he chose. In Nashville, that idea was sacrilegious. And while Nelson was something of a known quantity in town — he had written hits and was a member of the Grand Ole Opry — conventional wisdom said he was never going to amount to much if he insisted on singing his own songs in a manner that didn't fit Music City's countrypolitan ways.
"You ever heard the song me and Waylon did back in the old days called 'Write Your Own Songs?'" Nelson says with a laugh. "I still do that one occasionally. I get a kick out of doing it because it takes you back to the days when me and Waylon were fighting the outlaw wars here in Nashville and losing. I enjoyed those times. I even enjoyed being the outlaw and the outcast. I thought, 'All right, that's great. I must be doing something right.' You remember the old saying, 'You keep on doing it wrong till you like it that way?'"
Two things happened in the early 1970s to give Nelson the advantage in those wars — his decision to leave Nashville and relocate to Austin, Texas, and the release of "Outlaws." The album, a collection of odds and ends from Nelson, Jennings and others, was the first country album to go platinum and was accidentally timed perfectly to take advantage of an obsession with Southern culture in the U.S. during the Age of Burt Reynolds.
Quickly, Nelson was not only a well-known singer with a group of suddenly popular friends, but he was an actor on film and television. His influence spread quickly. Friend Kris Kristofferson invited Nelson down to Mexico to the set of Sam Peckinpah's "Pat Garrett and Billy the Kid" where he introduced him to Bob Dylan. Nelson played a song for a group of new friends.
"And Bob Dylan was so knocked out that he made him keep playing," Kristofferson remembered during a visit to the bus late last year. "I think you played there all day by yourself. ... Dylan was just amazed. It made me respect Dylan, too. But (Nelson) has always been a songwriter's hero. Because he's a great songwriter. Because he's absolutely unlike anybody else and because he's the funniest human being on the planet. And very much like God."
Except maybe when he's telling dirty jokes. Nelson and Vince Gill have plenty in common, but it's their love of off-color quips that cemented their friendship.
Gill says Nelson remains relevant in the 21st century for a simple reason. He continues to show people the way.
"He's the most unique singer I've ever heard," Gill said, "and that to me is the whole point: For you to flip the radio on and know exactly who that is. That's what you dream of."
___
Online:
http://willienelson.com
___
Follow AP Music Writer Chris Talbott: http://twitter.com/Chris_Talbott.

Sunday, April 28, 2013

Chinese military cracks down on license plates and corruption - Yahoo! News

Chinese military cracks down on license plates and corruption - Yahoo! News:
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Chinese military cracks down on license plates and corruption

By Terril Yue Jones
BEIJING (Reuters) - China's new leadership is seeking to dismantle a system of privilege which has allowed the drivers of military vehicles to do as they please on the roads.
On Sunday the Chinese military began replacing license plates on its cars and trucks to crack down on legions of vehicles, many of them plush luxury brands, which routinely break traffic laws and fill up with free gas.
The People's Liberation Army General Logistics Department began supervising the removal of current military license plates that will expire on Tuesday, the PLA Daily newspaper reported.
Luxury sedans and sport utility vehicles with PLA and People's Armed Police license plates gliding through red lights or flashing lights and sirens to push aside cars in front of them are a common sight in China.
Newly named President Xi Jinping, who is also chairman of the Central Military Commission and thus the top military official, has tried to make fighting corruption a cornerstone of his administration, saying he will go after corrupt officials high and low.
Luxury German, American and Japanese cars and SUVs with military plates -- often given to friends and family members as favors -- are one of many manifestations of corruption in China that regularly irk ordinary citizens.
Family members of retired military officers and who have military plates have even claimed free gasoline.
FIGHTING CORRUPTION
"Xi Jinping has a very strong sense of crisis," said Hu Xingdou, a professor of economics at Beijing Institute of Technology and an anti-corruption researcher.
"He has the lofty intention to use the iron fist of the state to fight corruption," Hu said in a telephone interview.
"Of course the fight against corruption is like a violent storm, and the more you persist in going after something by putting your career on the line, the more you encounter resistance," Hu said. "As for results, we will wait and see."
A number of high-end auto brands will be banned from receiving the new military license plates, including sedans from Mercedes-Benz, BMW, Jaguar, Porsche, Ford's Lincoln, General Motors' Cadillac, Volkswagen-owned Bentley and the Volkswagen Phaeton, Xinhua said.
Absent from Xinhua's published list were Audi sedans, the clear preference among Chinese officials with access to government cars.
Audi A7 SUVs however were listed as off-limits, along with Porsche Cayennes and other unspecified SUVs. Range Rover and Lexus SUVs with such plates are also common in Beijing.
Private and local government vehicles will also be ineligible for the plates, as well as any car costing more than 450,000 yuan (about $73,000), Xinhua said.
The policy will further decrease sales of foreign brands into Chinese government fleets. Beijing has moved to bar certain government agencies from buying foreign cars at all, potentially excluding global auto brands from a market of between 70 billion and 80 billion yuan ($11.1 billion to $12.7 billion).
The new licensing system is also meant to weed out fake military plates by using embedded electronic technology, the state-run news agency Xinhua said.
"The move is meant to crack down on the creation, sale and use of counterfeit military vehicle plates and root out loopholes in military vehicle management, so as to maintain social harmony, stability and the reputation of the military," Xinhua quoted the PLA General Logistics Department as saying in a statement.
(Additional reporting by Beijing newsroom; Editing by Stephen Powell)