Comment Number: 522418-09466
Received: 7/14/2006 3:46:01 PM
Organization:
Commenter: Larry Pitts
State: FL
Subject: Business Opportunity Rule
Title: Notice of Proposed Rulemaking
CFR Citation: 16 CFR Part 437
No Attachments

Comments:

I am for monitoring and controling bogus business opportunities. However, I do not think you should put a burden on the new start businesses that are associated with a sucessful business that is a positive influence in the market place, ie QUXITAR.com. Also, we do not need anymore controls on the free enterprise system. Enough is enough. As far as showing a litigation list, does microsoft need to show a litigation list everytime they interview someone for a job? I don't think so. The interviews would be very long. What are we really talking about? Integrity? You can not legislate integrity. The person with a devious mind will find a way around a 'litigation list'. I would think the Better Business Bureau's list of credible businesses would be enough. Providing a list of local IBOs could be a negative in the case where the prospect might decide to register with someone else that they met while talking to that local list of IBOs before they registered with the person that contacted and invited them. The prospective will meet the local team through the process that we use to educate an IBOs. We as a standard practice introduce new prospects to the local team of IBOs at business meetings. This gives the prospect an opportunity to ask questions of other IBOs and gather knowledge to make an informed decision. We give the prospect the average ernings of an active IBO as required by the FTC. I think this is enough detail. Our business plan shows the potential. People have done it and we can point to them. However, I think their earnings are private matters and should not be publicly displayed. I personally would not disclose my financial information. I think this would be a deterent to have anyone participating in any business. Do you ask a McDonalds owner to go around an tell everyone his income. This is personal a private information. Again, I think a national data base that is available for potential business owners should be posted on the web or in the 'post office' with credible business opportunties. I think it is on the shoulders of the credible business to police their associates and maintain ethical behavior when using their system. In reference to the seven day waiting period. When does it start? The first time you see someone and talk to them? Or, after you contact them about being a business associate? Would be a difficult thing to monitor and enforce. Most prospects take more than seven day to make a decision. Very unusual to find someone that makes a decision instantaneously. I want the prospect to make an informed decision. To make sure they want to work with me and my team. Most of your proposed rules would inhibit a prospective new business owner from becoming a new business owner. Too many rules. I think the bad guys are still going to scam uninformed individual. Hopefully we can edcucate our upcoming youth to be better decision makers. I think the current laws would be effective if the punishment were more server. again