How to text on a path:
Using either the shape tool (A) or pen tool (B) draw your path. Make certain paths mode is enabled (C).
Once your path is drawn (I used a simple ellipse tool) select your type tool. All type tools work, but the horizontals work best. Vertical creates a neat graphical effect.
Once your text is applied, all transformations (rotate, skew, etc) can be implemented.
Today I learned about Sphereize and how to put text on a path in Photoshop – all too easily done in Illustrator.