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Richard M. Hixson Pardoned Nu Skin

Yesterday I seat upwardly a popular post noting that Nu Skin, a multi-level marketing fellowship - had breached its debt covenants too was pardoned past times its bank.

The banker who signed on behalf of JPMorgan Chase was none other than Richard M. Nixon - the (presumably) deceased quondam President.

Prior to posting I confirmed that at that spot was no easy-to-trace Richard M. Nixon working at JPM.

But hi - Nixon used to hang about alongside Elvis, too Elvis is nonetheless live - then why non the President?

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Anyway Nu Skin lodged an SEC filing stating that they had been pardoned past times Richard M. Hixson (declaring a typographical error).

I stimulate got confirmed through back-channels at that spot is a Richard M. Hixson working for JPM too inwards an appropriate component at the bank.

I stimulate got the Nu Skin explanation.

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Nu Skin has neither confirmed nor denied they needed a pardon on their debt covenant - too they neither confirmed nor denied that they volition breach their covenants in 1 trial to a greater extent than at the cease of this quarter.

Those calculations are on the master copy post.

The buried punch-line of the master copy post was this:
In July 2014, the Company's subsidiary inwards Nippon borrowed iii billion Japanese yen (approximately $30.0 million), which is due on September 30, 2014.  In July 2014, the Company's subsidiary inwards Republic of Korea borrowed $20.0 million, which is due inwards Dec 2014, alongside a correct to extend the term for an additional 6 months.
The fellowship borrowed $30 1 M one thousand for 2 months without an obvious reason. It's similar hey, I got $234 1 M one thousand inwards the bank, tin dismiss you lot spot me $30 1 M one thousand for 2 months?

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Whatever - they breached their debt covenants. And they needed a pardon. Richard M. Hixson did the job. And they are borrowing coin offshore despite maxim inwards their last conference call they stimulate got no problem repatriating their (considerable) offshore balances.

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At this indicate though I experience a picayune similar Kermit the GORF.





John

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