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  "documentTitle": "Herbalife, Ltd. (HLF)",
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  "authorName": "William Ackman",
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  "notes": "The slide highlights a specific quote where the COO equates 'active recruiting' with 'opening new Nutrition Clubs'.",
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      "text": "So I think what you will see is retention will probably actually go up as we go through this phase. And then, we want to get back to active recruiting which is another word for opening new Nutrition Clubs.",
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      "text": "They're not so much dropping out of the business... What we're seeing is really the slowdown is more attributable to not opening up new stores. And that is on purpose. Our distributors want to retranche and retrain and then go back through a period of accelerated growth. So I think what you will see is retention will probably actually go up as we go through this phase. And then, we want to get back to active recruiting which is another word for opening new Nutrition Clubs.",
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      "text": "So I think what you will see is retention will probably actually go up as we go through this phase. And then, we want to get back to active recruiting which is another word for opening new Nutrition Clubs. — Greg Probert, Herbalife Ltd. - President, COO",
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