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USANA has a product, so it's not a pyramid scheme?

Anyone who has studied Multi-level marketing and pyramid schemes extensively knows that this statement from USANA Health Sciences (NASDAQ: USNA) spokesman Joseph Poulos (AKA Salt Lake Sam) is false and misleading:

"This company sells vitamins. In a pyramid scheme there's no product."

Just for fun, I asked Jon Taylor of the Consumer Awareness Institute if he could think of any companies selling products that had been shut down by the FTC or other government agencies for operating pyramid schemes. He emailed back with this, which he called a "partial list":

2Extreme Performance
Bestline
Boston Finney
Club Atlanta Travel
Culture Farms
Destiny Telecom
Equinox
Five Star Auto Club
Fortuna Alliance
Fortune in Motion
Global Prosperity Group
Globion, Inc.
Holiday Magic
Infinity2
International Heritage
Jewelway
Koscot Interplanetary
National Safety Associates
NexGen3000
Omnitrition
Rennaissance – the Tax People (RTTP)
Skybiz
Tele-Card International
Trek Alliance
Unimax

Does Mr. Poulos just not understand what a pyramid scheme is? If he doesn't, then is really in a position to be defending allegations that his employer is one?


More USANA Health and Sciences news

Kevin Kelly:
"Heard on the Street" knocks USANA
Zac Bissonnette: Oh snap! Barry Minkow fires back at Usana Health Sciences
Zac Bissonnette: Forbes slams Usana Health Sciences (USNA)
Zac Bissonnette: NZ National Business Review slams USANA Health Sciences (USNA)
Zac Bissonnette: USANA has a product, so it's not a pyramid scheme?
Zac Bissonnette: Is Baghdad Bob working for USANA Health Sciences?

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S&P 500+32.60848.81

Last updated: December 03, 2008: 12:28 AM

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