|Received:||7/17/2006 11:03:27 PM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:As a retiree, I have relied on the income from a business I have built and developed in the last 2 1/2 years to help me fulfill my financial obligations. As a distributor of Xango or Mangosteen Juice, I have shared the business opportunity to a lot of people who are now also enjoying the benefits of their efforts. This product has truly blessed me physically and financially , and the personal development I gained through my business involvement has transformed me as a person. Knowing that I am sharing a product with health benefits I truly believe in and a business opportunity that promises financial rewards for those who will work hard, have developed my confidence and the belief in myself I did not have before. It was therefore a great source of anxiety to me to realize that your proposed ruling, when carried out, will be devastating to what I have worked for and built in the last 2 1/2 years. First, I am concerned about the 7-day waiting period. Pardon me for saying I feel this is highly impractical. Most of the prospective purchasers will not wait for 7 days to buy a product or get involved in the business especially those are enthusiastic to start right away. Those who need the product will look elsewhere to find something they can purchase immediately. Instant gratification is a human trait that needs to be satisfied and I believe the proposed ruling go against that trait that is common to all of us. Developing my business requires me to travel to different areas outside my home state, even outside the country. The 7-day waiting period will create a tremendous inconvenience and expense for me and the consumers because it will require me to come back to them 7 days later. Second, the list of nearest references as part of the disclosure requirement will be very hard to provide because it involves confidentiality issues. Although such information is available in our head office, disseminating them widely will place the distributors in a very untenable position. Thus, a lot of people who may want to get involved in the business will be deterrred from joining. Fraudulent acts and identity theft are things no one wants to be exposed to and this proposed ruling of providing a list of nearest references will certainly leave those of us who are involved in the direct selling business very vulnerable to such activities. I am also deeply concerned with the other parts of your proposed ruling but I rely on your sense of fairness and the wisdom of your judgment. Although I realize that your ultimate responsibility is to protect the public, I have no doubt that you will also take into consideration their need to participate in a business that is legitimate and rewarding, something that has served as a beacon of hope for those who want to be the master of their financial future but have limited means to do so.