If you asked me to come up with a list of ways to destroy your credibility as an entrepreneur, here are two of the best ways I would come up with: associate with Mannatech (NASDAQ: MTEX), an embattled multi-level marketer, and associate with Robert Kiyosaki, the motivational author who has been exposed as a charlatan, exaggerator, and all-around bozo.
So it was with great amusement that I stumbled upon this press release:
Mannatech, Incorporated, a leading developer and provider of dietary supplements and skin care solutions, announced today its speaker line-up and events for MannaFest 2008. Keynote speakers include Bob Burg, co-author of The Go-Giver, and Robert Kiyosaki, author of Rich Dad, Poor Dad.
I've devoted a fair amount of bandwidth to trashing both of these. I first got interested in Mannatech when the Texas Attorney General sued the company for illegal sales and marketing practices. Then the company announced that its CEO was stepping down to -- get this -- devote more time to the company. Then, just when you thought this corporate outhouse couldn't get any goofier, Mannatech fired its independent auditor when the firm insisted that the chairman step down from his post.
And as for Kiyosaki: just read this blistering expose from John T. Reed.
Of course, it's possible that my impression of either of these entities could have been wrong. But Robert Kiyosaki speaking at Mannafest is the equivalent of Gary Condit and Mark Foley teaming up for a seminar on ethics.
Reader Comments (Page 1 of 1)
4-11-2008 @ 2:53PM
alice said...
Robert , is good at his work,but there are still some problams in his personal life.I saw his profile on a famous dating site,"LOVINGRICH COM",seeking girlfriends.of course there are full of celebrities, beauties, millionaires on that site. I have no idea if his wife hnow about this.
4-14-2008 @ 5:12AM
John said...
Freedom os sppeech is a wonderful thing.
Zac writes what he wants to write and so do I:
Mannatech is stirring up controversy because its technology is going to change the world - are you aware that one of its patents is being challenged - think about why someone would do that - and I suggest that readers actually study for themselves instead of accepting second hand negative reports so willingly.
4-14-2008 @ 12:15PM
Kathy said...
I have been taking the products for about 3 years, and since taking them my health has improved so much. I now take no drugs, and I was on 3 drugs before starting the products. I have more energy, my fibromyalgia and arthritis are now almost non-existent. I don't make money with Mannatech, although someday when time allows I hope to start a business. What is more important than our health. This company has a product superior to any health products out there. The media and others are trying hard to hurt this company, but they stay steadfast in their road to making the best health products available and building their company. One day they will get the press they deserve about the quality of their products. All companies in sales use these techniques to attract people. That is what sales is all about. The first thing you have to do is get there attention. Then show your products. Try these products for awhile and I'm sure if you have any health issues you will see a difference. This is a good company!!
4-16-2008 @ 11:17PM
Chris said...
I have been taking Mannatech products for 10 years. I'm 55 years old, had my bone density tested and it was that of a 26 year old! Mannatech has taken away ny plantar faciatis on my feet as well. I never go to the DR as I'm never sick. I also do not have hot flashes, for all you women out there my age, this is amazing stuff. I'm very confident that these glynutrients keep my cells communicating so I stay healthy. This will be the next Microsoft someday. Try it, it works!
5-08-2008 @ 2:49PM
Joe said...
Bad news makes good news.
Kiyosaki recently has co-authored with Donald Trump, both state that network marketing is the perfect business... and if they had to start over they would use the networking model. Makes sense to have him as #1 personal finance author at a network marketing company's conference. Him and his wife are also devotee's of the products.
What billion dollar company has not been sued?
There are always ways to sue - and if you notice it was not because of the products - it was because in the USA it is illegal to say anything cures, heals, mitigates disease expect a drug. Vitamin C doesnt cure scurvy either right? You will also notice that Mannatech won its patent suit against infringing companies and owns patents in every country that has patent law.
When you focus on bad press - bad is all you will see... how about this press...
1. No other nutritional company in the world has ever been invited to present it's science to the Royal Society of Medicine (RSM). The science and presentation of Mannatech's discoveries so overwhelmed and impressed RSM, that John Axford, BSC, MD, FRCP, President of the Section of Immunology and Allergy asked to join our board. Nobody from the Royal Society has ever done that before or since.
2. No other nutritional company in the world has ever been listed as the 1st technology that WILL change the world by MIT (Massachusetts Institute of Technology). - Feb 2003, "The reason for the excitement is that sugars [saccharides] have a vital, albeit often overlooked, function in the body. The ...potential is absolutely enormous."
3. The only Nutritional Company in the world that was ever asked to present their science to World Congress on Medicine - Dec 2003 Mannatech was invited to present their science and research at this prestigious conference held in Geneva, Switzerland sponsored by the United Nations.
4. No other Doctor listed in top 20 in the US is heralding a nutritional product by any company except this one. - Dr. Ben Carson, world famous director of pediatric Neuro-surgery at Johns Hopkins University in Baltimore, named as one of the "Top 20 Doctors in America" by CNN & Time Magazine. In an interview by Dallas Weekly Magazine (Feb 2004 issue) Dr. Carson made this statement: "The science made sense to me. God gave us in plants what we need to remain healthy. In today's world our food chain is depleted of nutrients and our environment has helped destroy what God gave us. I do not see glyconutrients as unnatural. I see them as complimentary to traditional medicine. Dietary supplements should
become an integral part of health care in this country."
5. No other nutritional company in the world has ever been mentioned by anyone from the US Patent Office as one of the most important discoveries of the 21st Century.
6. No other nutrition company in the world has ever been asked to present its science and research to the US Patent Office.
7. No other nutritional company in the world has been asked to speak at an MIT Annual Emerging Technology Conference.
8. No other nutritional company in the world has ever been asked to speak before United States Congress. Nov. 14, 2001Dr Reg McDaniel was asked to present the frontline defense against bio-terrorism is a strong immune system by use of glyconutrients. Since then this technology is sweeping the capital and many Senators and Congressmen are on these products now.
9. No other company in the world has Continuing Education Credits on a technology they discovered and patented. - Proevity.com and Proevityvt.com (virtual training) offers CME to doctors through virtual training on the science, research and application of glycomics technology.
10. No other company in the world sponsors a Non-Profit Global Nutrition Program to supply essential nutrition to fragile, orphans and children with critical health needs in 78 countries.
11. No other
nutritional company has a program like the PNE (Pharmacist Network Exchange) - PNE allows people to call a pharmacist with their concerns if any of our nutritional products will interfere with any drugs they are taking and/or how to work with their doctor to reduce or eliminate their medications through the use of building their health with our supplements.
12. The "Optimal Health System" (OHS) products are listed in the Physician Desk Reference for Dietary Supplements (PDR) under Immune System Support.
13. OUR breakthrough Immune System support technology is featured on the cover of 6 major science publications! and featured in over 58 magazine journals! and written up in tens of thousands of peer reviewed articles! You can read about it in the the newest medical textbook's like Harpers Biochemistry and Acta Anatomica as well as Technology Review (MIT),
Scientific American, M.D. News and Science Magazine (not just a few pages but the entire 200 page magazine).
14. We have received a First-Place award during the 4th annual, 2007 Conference on Natural Supplements sponsored by Scripps Center for Integrative Medicine in La Jolla, California. - Mannatech's research provides a better understanding of how complex carbohydrates can support the immune system. OUR research is scheduled to be published in the Journal of Alternative and Complementary Medicine. Scripps also received its second largest grant from the National Institutes of Health to study Mannatech's carbohydrate technology (Glycomics) and cellular communication.
15. Mannatech is the 1st and only company to pioneer and patent technology used to create the world's first and only 100% bioavailable, 100% plant-digested, 100% plant-matrix, standardized vitamin/mineral/phytonutrient supplement, PhytoMatrixâ„¢. - No more "expensive urine" or collateral tissue damage from synthetic vitamins and minerals! 3rd generation supplements are here, and Mannatech wants everyone to have them.
16. Robert Kiyosaki, keynot speaker at Mannatech's International Conference, Mannafest '08, stated, "We took our Ambrotose this morning! My wife has been a devotee of Mannatech products for years. "