| Comment Number: | 522418-04298 |
| Received: | 6/26/2006 1:06:20 PM |
| Organization: | |
| Commenter: | Lorena White |
| State: | VA |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
To whom it may concern - I am writing to communicate my feelings and concerns on the Business Opportunity Rule 16 CFR Part 437. I am an independent business owner with Quixtar, words can't completely describe what this business opportunity means for me and my family. I am a diligent and hard working citizen, all I want is to start a family, and help my relatives live a decent and comfortable life. My father was diagnosed with cancer and has been fighting (literally) for his life for the past two years. I never thought about it before, but my family's future depends on me since I am the eldest. I knew that working a regular job would not be enough to help my family because I was living paycheck to paycheck. My husband and I were exposed to Quixtar and our whole lives changed. Quixtar's standards and excellent reputation are admirable. The business team with whom we are associated with operates under the most high standards of integrity and accountability. We are able to not only grow ourselves and our business, but help other people do the same for themselves and their families. We are good hearted and patriotic americans that were given the chance to better ourselves and be more productive citizens of society. It is an honor and a privilige to live in the United States of America. I am thankful for many things, especially my freedom of speech. Thus, I am writing to tell you how this rule would greatly affect our business, and I am providing some alternative solutions: Problem 1: Prospects would have to wait 7 days after receiving disclosures before they could register. Solution: PLEASE eliminate the waiting period, at least for opportunities like Quixtar where a prospect has100% money back guaranteed if not satisfied. Problem 2: You would be required to give every prospect a list of "references" – the names, addresses, and phone numbers of 10 other IBOs in the area – seven days before the prospect registers. This requirement would infringe on the privacy of every IBO whose name, address, and phone number was provided to prospects. It would also penalize the sponsor, who would be required to give his prospect contact information for 10 other IBOs, any of whom might be happy to register the prospect themselves. Solution: PLEASE eliminate the requirement to provide 10 references. Problem 3: You would have to give every prospect a list of all lawsuits, arbitrations, or other legal claims for the past 10 years involving Quixtar or its IBOs where the plaintiff alleged fraud, misrepresentation, or unfair trade practices – regardless of whether or not the accusation was true. Among other problems, this requirement would open up Quixtar and other legitimate companies to false accusations. Meanwhile, dishonest companies would simply ignore the rule. Solution: PLEASE eliminate the requirement to disclose past litigation - and just allow this information to be accessible upon request. Problem 4: You would have to make a different disclosure for every income claim.This would include any examples you might use during an opportunity presentation to illustrate how the Plan works. Solution: If disclosures are needed, require a simple, standard, easily understood disclosure such as average monthly gross income for 'active' IBOs. Problem 5: You would be required to provide prospects with personal financial documents to back up ("substantiate") any income claim. Solution: IBOs should possess substantiation for any claim but should not be required to disclose it except when required by the FTC and similar state agencies in an agency investigation. We believe in giving prospects as much information as possible, so they can make an educated decision. We do not intend for prospects to be involved in our business unless they have all the facts, all questions have been answered, and they've thought about it and weighed their options. Thank you very much for your time and consideration. Respecfully yours, LJW