*Herbalife shares plunge

We're talking 23.3 percent of its value, or $9.17. The L.A.-based company lowered its 2007 sales growth expectations to between 6 and 10 percent (that's down from an earlier estimate of 10 to 15 percent). The reason being cited is slower sales in Mexico City, where Herbalife is going through a mini-scandal involving unregistered distributors selling its nutritional products. To give you an idea of what a big deal Herbalife is in Mexico, the company's product line will be used this month by the lead character in the high-rated telenovela, "La Fea mas Bella," which is the forerunner to ABC's "Ugly Betty." While analysts have spent much of the morning downgrading Herbalife shares, they're still encouraged about the company's prospects in China, where a license to sell Herbalife products is expected this year.

*Stock closed down 24.3 percent, or $9.56.

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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