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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Retailherbal supplements

GNC amps up its supplement quality controls

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Laura Lorenzetti
Laura Lorenzetti
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By
Laura Lorenzetti
Laura Lorenzetti
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March 30, 2015, 11:46 AM ET
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GNC, the largest retailer for herbal supplements in the U.S., will implement stronger quality controls for its herbal supplements after coming under review by the New York Attorney General.

The attorney general accused GNC (GNC) of selling supplements that were fraudulent or contained unlisted ingredients that could harm consumers. After providing the results of rigorous tests conducted both internally and by independent third parties, the retailer confirmed that its products are in full compliance with the Food and Drug Administration’s “current good manufacturing practices,” the company said.

In response to the investigation, GNC has opted to implement even stronger quality control measures that surpass what’s mandated by federal law — a move that experts say is a significant step toward improving the $33 billion-a-year supplement industry, which has faced numerous accusations of improper labeling and ingredient use.

“As an industry leader we have always gone above and beyond the minimum requirements in pursuing quality for our consumers, and we will continue to lead the efforts for higher standards,” said Michael Archbold, CEO of GNC. “This is good for consumers, good for the industry, and good for GNC.”

GNC will start using advanced DNA testing to confirm the authenticity of all plants used in its store-brand products as well as test for common allergens like nuts, soy and wheat. The company will also submit semiannual reviews to the attorney general’s office to confirm its in compliance with the its standards.
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