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How I Got Rich : Succeeding with Amway while everybody else loses money
by Amway Parody Press

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Editorial Reviews
Amway Parody Press
Rich DeVos, cofounder of Amway battled the abuses of the king pin distributors like Dexter Yager, Bill Britt, and Ron Puryear for years. In 1982 Rich stepped out on a limb and published the directly speaking tapes to try to reign in the abuses in the Amway motivational tools businesses. The turmoil created an astonishing 25% drop in sales for Amway in that year.

This book analyzes DeVos's handling of the event and the subsequent realization that saving his corporation from collapsing sales was more important than his commitment to free enterprise and helping the little get ahead in life. Free enterprise and free exploitation was at least saved for the King pin distributors.

If you want to be successful, effective and influential like Rich DeVos, then you need to overcome some obstacles, and tough ethical choices," advise the authors. The secret to DeVos's success? He is a man who can see the writing on the wall and can exploit the opportunity at hand. Rich subsequently let the king pin distributors have their way. Amway and the King pins motivational businesses subsequently thrived. Amway became a 6 Billion dollar company all while millions of Amway distributors lost hundreds of millions of dollars due to the bogus "success systems" marketed by the King pins.

Also detailed, is Amway's successful floating of the Amway Asia Pacific (AAP) stock offering for 15% of the company. Trading opened at $28.88/share. AAP's performance dropped off in 1998 and 1999 and the stock tanked. However Amway knew something positive might be coming that the minority stockholders did not know. Due to Amway's majority holding, they were able to force the minority share holders to tender their 8.5 million outstanding shares for $18/share, $10 less than when the stock first opened six years previous. The buy back was announced on Nov 11, 1999 surprisingly just before the November 15, 1999 breakthrough agreement to which the U.S. supported China's entry into the World Trade Organization ("WTO"). Amway was able to pocket about $80 million on the fallen stock price and have complete control of the company again. In 2004 China's sales accounted for almost 20% of Alticor's revenue and exceeded $2 billion. DeVos surely knows how to sell high and buy low.

DeVos, like other business leaders, has had his share of business scandals. Amway was charged in Canada with evading duties and taxes by using false invoices to misrepresent the value of its products being shipped across the border. Rich DeVos and Jay Van Andel plea bargained to dismiss criminal indictments against them and instead the Amway Corporation and Amway of Canada Ltd plead guilty to criminal fraud and tax evasion and pay C$25M fine. Canada sought C$148M in back customs duties, taxes and penalties.

In 1979 Amway was also ordered by the Federal Trade Commission to stop making exaggerated income claims and stop engaging in price fixing for its products. Again in 1986 the FTC fined Amway $100,000 for violating the 1979 order to stop making exaggerated income claims.

In a climate of unscrupulous and unethical business leaders, DeVos is a shining example.

Copyright © Amway Parody Press. All rights reserved.

Product See all Editorial Reviews


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      Customer Reviews
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      Write an online review and share your thoughts with other customers.

      1 of 1 people found the following review helpful:

      Rich is not stupid, January 3, 2005
      Reviewer: Deb (Michigan, USA) -
      My Mom, the daughter of Walter Bass, one of the original Amway distributors sponsored by Rich was a true believer. She hung on to her Amway Asia Pacific stock - until she was forced to sell it back to Amway for a $9,000 loss. Hey - nobody ever accused the Gold Dust Twins of being simple home boys....

      Was this review helpful to you? 



      145,678 out 145,677 people found the following review helpful:

      Lessons for Everyone!, March 13, 2004
      Reviewer: Eric Scheibeler

      Mr. DeVos, this is my wife and I sharing a moment with you during better times (see picture in sidebar.) We trusted you so much. We trusted you not only with our families future but that of most all of our closest friends.

      We believed in the principles that you and Jay founded Amway with. Character, integrity, hard work, honesty, reward for the performer and service to others were all critical components of the business you founded. Unfortunately, the Kingpin distributors changed the business and it is now completely devoid of any of these qualities.

      To your credit; you took initial action to attempt to stop these abuses and deception when you became aware of them in the 1979-1982 time period. However, at some point shortly after 1982 the Amway Corporation seemed to actually become an active participant in the fraud with you, family members and management actively promoting and speaking at the seminars of the very Kingpin Diamonds who you knew were fleecing the flock globally.

      You cannot take away the conversation my wife and I had with our children to explain we had to leave the only home they had ever known. You cannot give us our once perfect credit back. You cannot undo the past and current fear of living under the fear of
      multiple death threats to even my wife and son. This, however, is not about us. The deception and fraud we experienced is simply representative of what is happening to millions of people around the world involved as distributors in the motivational organizations associated with two of the Alticor companies, Amway and Quixtar.

      I have been in contact with
      victims from literally around world who tell the almost exact same story (regardless of what state or country they reside in) of deception and betrayal. You cannot give back to them the years they lost with their children. You cannot return the many homes that have been lost. You cannot mend the destroyed credit of those who have been bankrupted. You can never heal the families that have been torn apart by divorce as a result of this. Will you allow history to remember you and Jay as the Billionaire Bandits? What will your legacy be?

      This is not done out of anger, hate, revenge or a sense of retribution. It is with deep remorse I have been called to this terrible task, for which my family and I have and continue to pay an incredible price. You profess to be a
      Christian. I believe your sincerity in that profession. As a fellow Christian, I am required to forgive you, and have done so. With this, I extend the olive branch of forgiveness to you and ask you to do one thing.

      You must have agonized over this for many years.
      Please do the right thing and put and end to this. You know you can. As you read this, you can be assured that an army of Amway or Quixtar’s lawyers and that of the IBOIA and its representative Kingpins are descending upon my family and I like rabid hyenas. Please call them off. You can stop this and do something incredible with your life. You can change the course of history now, Mr. DeVos.

      I will permit you to co-write the last chapter of this book should you choose to do the right thing, as difficult as it may be.
      What witness will you be remembered for? What will your final testimony be?
      I sincerely wish you the best.

      God Bless,

      Eric Scheibeler



      Was this review helpful to you? 



      0 of 21 people found the following review helpful:

      been there, February 19, 2004
      Reviewer: mack van de laars (Grand Rapids Michigan USA) - See all my reviews
      Think downscaling.
      Think soap powder.
      Think pyramid scheme.

      Was this review helpful to you? 




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