| Comment Number: | 522418-02770 |
| Received: | 6/16/2006 1:21:26 PM |
| Organization: | XANGO TM |
| Commenter: | Serge & Maria Theodore |
| State: | FL |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
I joined xango on March 2005 (1 1/2 year) after six years searching and trying to find an honest way to make extra money for our family needs and probably reach economic freedom. This company gave us extensive and dependable coaching to progress in the network marketing. My wife and my son are very interested and we plan to become more involved in the business. We are happy to be able to put our family values and religious principles at work. Our upline partners are absolutely wonderful, the company is great, we have had opportunity to, indirectly or directly, with some nice and enthusiastic people. I appreciate tremendously FTC's consumer protection prioriries,but I am concern for the impact of such measures on legitimate direct selling companies. I undestand that there are fraudulents groups out there, but this particular rule unfairly taffects legitimate direct selling businesses like mine. The seven-day waiting would impractical, uneconomical , and it would put an administrative burden keeping record, instead of facilitating honest businesses' operation. When I started in the business I didn't have any money and I was afraid of borrow more money from the bank adding mere stress on my financial struggle. It took me only a $35 direct selling kit to start my business and it is the appealing point of the recruiting success, that any one who wants to do something to help themself can do. $500 business threshold would kill my embryonic business. Legitimation reporting is unfair in that it does not distinguish between winning and losing lawsuits. It is irrelevant to report all litiganion regardeless of the outcome. It would be unconfortable for me and my family if become suspect in a case of identity theft if it happen to any sales people in my group, which occur to often. I always recommend the clients to fax their social security to the company because most of the time the recruitment is done over the phone, there is no face to face encounter. Some of my sales persons just know me by reputation. I understand the need to build a strategy to clash fraudulent groups but it would be at a high coast for legitimate businesses. Sincerely Serge Theodore ID 4845141 Xango Independent Distributor