Herbalife Goes on Offense in D.C. Lobbying Push

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Feb. 21 (Bloomberg) - -Bloomberg News’ Megan Hughes reports on Herbalife’s lobbying push on Capitol Hill to fight scrutiny over its business practices on Bloomberg Television’s “In The Loop.”

It looks like it is going to congress with staffers taking a look.

Herbalife is trying to play defense and take a proactive stance on capitol hill.

Executives are going to be speaking to congressional staffers could not any specific committee.

It is confirmed by one of the herbalife hired lobbyists as well as the herbalife spokeswoman.

At least 2 executive summary life making these presentation, laying s to why this is a legitimate business today.

The executives john desimone and ibi fleming.

They will also be hearing from the direct selling association.

This meeting is on the house side of the capital at 10:30 this morning.

Important to point out that this is not the first time that herbalife executives have set down with staffers here on capitol hill.

They also met with senator ed markey cost office at the end of -- senator ed markey's office at the end of january.

We learned yesterday that it turned out to be bill ackman's biggest loss that he has ever had.

Maybe perhaps this will turn it.

What is the thinking here?

What are your sources telling you about the company?

Are they sympathetic to bill ackman, do they see aside?

-- see his side?

There is not a lot of talk yet and that is why you see or believe being a rocket, but senator ed markey has been pretty skeptical of thing on the, sending letters to the sec, ftc, asking for an investigation . asking questions about this business model.

We know that johnson actually just got back to him in a letter this week.

We have a copy of the letter.

It parallels with the case that staffers are going to be making today, that these jobs come he argues, just like amway or avon as far as the business model, making the appeal to members of congress that this means jobs.

"herbalife will employ 7004 hundred people including approximately 6750 one contract manufacturers, employing 94 individuals in massachusetts.

Trish, read between the lines.

They are stating the language on o, appealing this will be -- speaking billing which on capitol hill, a feeling that this will be good for jobs.

There is a production facility for herbalife that they have funded in north carolina.

Trying to get in front of it for sure.

You think -- let's assume for a moment that herbalife is in fact completely legit and that bill ackman is totally wrong.

In that case, you look at a company that has to spend its time to justify itself on capitol hill.

You think of the distraction, all the effort it takes.

It is fascinating to see that when someone comes out, and activist comes out against your company, and regardless of if they are right or wrong, there is a battle at play, pr battle for sure.

In this particular case it has gone all the way to capitol hill.

And it is not just time, trish.

It is also money.

If you look at the money that herbalife has spent here in washington, last year they spent $1.9 million.

That may not sound like much if you take it into perspective, but when you look at how much they spent previously, they never spent more than $1 million before last year.

Clearly they are wrapping up their lobbying in washington.

Have got a lot of work to do.

We will continue to watch it.

It is interesting when you look at the market, investors have

This text has been automatically generated. It may not be 100% accurate.


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