| Comment Number: | 522418-07380 |
| Received: | 7/10/2006 5:30:33 PM |
| Organization: | F & M Enterprises |
| Commenter: | Frank Campbell |
| State: | TX |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
Reference to FTC, 16 CFR Part 37, Business Opportunity Rule, I am responding due to some concerns we have. My wife and I are currently Independent Business Owners through Quixtar since 2004. Our main reason for entering into an IBO entrepreneurship is basically due to the constant job market shifts resulting in a lack of security for retirement. My wife and I are both over 50 years of age, both collage educated in medical administration and criminal justice, and after putting 20 years in the armed forces, retiring, holding down numerous jobs, we realized that we both would still have to work another 20 years just to maintain a lifestyle that would not depend on government subsidies. Incorperate the rate of inflaction, the cost of living, federal, state and local taxes, what is left of the paycheck is barely enough to get by on, much less sustain a retirement benificial to our current life style. We were introduced to the Quixtar Business Plan in 2004. Our contact who showed us the plan emphasized that what he was showing us is a Business Plan, that depending on how committed my wife and I were, would determin our success. We were also told that this is not a get rich scheme. We were not committed to purchase, stock and warehouse products. We were given a booklet that explained the business, the booklet was explained to us, our questions were answered, and we were provided with additional information about the Quixtar Independent Business Plan. We were introduced to others in the business who are constantly assisting my wife and I. Likewise, when we sponsor other IBO's we provide booklets, and support materials and introduce the IBO's to other business owners. The requirement to provide a list of successful IBO's in Quixtar would be devastating. IBO's rely on a Line of Sponsorship, (LOS). We rely on LOS integrity and to reveal the LOS would undermine the LOS. That said, to reveal the LOS would and could redirect a prospecive IBO to another IBO and as a result would most likely weaken the integrity of the LOS. Quixtar is firm on line of sponsorship and maintianing it's integrity. If these rules are violated, then the IBO who committed an infraction would most likely be stripped of his IBOship. My wife and I do not agree with the proposal to devulge our personal financial status with prospecive IBO's or any other IBO whatsoever. Personal financial information is confidential and should never be a subject of disclosure to anyone. One of the main reasons my wife and I became Quixtar IBO's was as mentioned int the first paragraph. We were living from payday to payday, both working, both seeing our salaries decrease, not because of pay cuts, but rather with payroll deductins, increase of gas sales, state, federal and local tax increases etc. To devulge our personal financial statement would not be representative of the full potential of what this business can offer. Bottom line, it is personal, private, and would not be conducive to building a business through Quixtar. With respect for proposal to list any and all litigation that a seller may have, Litigation is usually due to a misrepresentation or distortion of the facts, in which two parties do not agree on due to a mis-communication or distortion of those facts. If a seller (IBO) misrepresents himself or Quixtar, the IBO who does so could be and most likely would loose his IBOship. Litigation showes no quilt or innocence, only that an action has been filed and is ongoing. It is not final untile the judge rules one way or the other. I understand what the concerns are, there are some people who are schemers (bad apples), but don't let the few bad apples destroy the whole bunch ( the IBO's who are making an honest living). Prosecute the bad apples, get them out of the bunch. There are laws currently on the books that address these issues. Sincerely, Frank Campbell