Comment Number: 522418-06021
Received: 7/4/2006 10:43:28 PM
Organization:
Commenter: Gary Messmer
State: MO
Subject: Business Opportunity Rule
Title: Notice of Proposed Rulemaking
CFR Citation: 16 CFR Part 437
No Attachments

Comments:

I would be in favor on a new rule regarding disclosure especially in the area of MLM "opportunities". My wife and I were involved in Amway from 91-98. There where countless times when I would here other distributors flat out lie about their income and decieve others into believing they where living the life of the rich and famous. My wife and I where up front with people as to where we were in that business. Many times when you would confront someone that was out of line they would just say the very famous line " you got to fake it until you make it". In fact just the other day I met up with a former associate of mine who is still in the Amway/Quixtar business. The way this individual portrayed to myself and another individual their lifestyle one would believe them to be multimillionares. After further probing because I know how they play it up it turned out they where no further along then when we left almost 8 years ago. I believe if you have a full disclosure as being considered this will permit many people from falling prey to deceptive practices. Currently there are disclosure guidelines in place for commentaries on the likes of CNBC when I watch the stock shows. Had this been in place in the late 1990's many people may not have been caught up in the hype. Again I would urge you to seriously consider passing these guidelines for the sake of futher "prospects" who may stumble across any deceptive MLM schemes. Sincerly Gary Messmer