|Received:||7/17/2006 6:47:24 PM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:My wife and I have been active in Quixtar (Amway) more than 10 years. We are in our eighties and it has had a major positive influence in our personal lives as well as financially. We did due diligence to validate what we were told as well as checking with known credible sources. I focus on people who are looking for the kind of opportunity I offer that will help them accomplish what they are looking for. New sign ups usually invest between $125 and $450. With no "sign up bonus" to me and satisfaction guarantee there is no purpose for me to waste my time with people who are not serious about building their business. I am in favor of some means of control or penalty for offerings using misinformation or pressure tactics to influence prospects to "buy in" to to a deal that is unfavorable to them. These rules should NOT cause an unreasonable burden or handicap on people who are operating according to fair and proper business practicers. CONCERNS 1. 7 day Waiting period. Burdensom waste of time for both parties and redundant with return guarantee. 2. References. How can a new IBO do this. Same reasons as #1. 3. Legal allegations, Not a valid measure. The biggest scams are frequently a "new company" start up by the same old scam artists.A better measue would be a rating by BBB or some other public rating company. 4. Personal income disclosures and documentation should not be required. This should be part of the prospects due diligence and required publication by the corp. SUGGESTIONS 1. Rules should provide for a level playing field. May use presentation of a FTC booklet in straight forward non legaleze language suggesting appropriate questions to get answers for. In brief language pointing out possible positive and negative actions you will be dealing with. ( similar to the detail required in a 10Q or 10K but not that elaborate. 2. Offer should require a REASONABLE CANCELLATION/RETURN POLICY. This will reveal the front load sign up bonus deals. 3. NO waiting period. 4. NO references or past litigation disclosures. 5. NO financial record disclosure by individuals. Thank you for the opportunity to present these suggestions. There are many in this business who make outlandish claims, in particular on TV & Radio that leave a poor impression of this business. The legitimate companies suffer from this impression. Ground Rules for proper business practices that will expose bogus opportunities are needed. Bottom line is the public must understand the due dilligence required on their part and the kinds of questions to ask so they identify the bogus offerings.