|Received:||6/19/2006 1:08:27 AM|
|Organization:||XanGo and The Pampered Chef|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:One problem. Only legitimate businesses will follow this proposal, if it turns into a law. So you have defeated the purpose, and put law-abiding citizens out of business. In such a litigious society with so many frivilous lawsuits being tried in the courts, how can litigation reporting help someone make an educated and beneficial decision? Due to the nature of home-based businesses such as XanGo and The Pampered Chef(as well as MaryKay and many other legitimate businesses) it isn't very practical. Instead of these rules being requred to be carried out by the individual seller, the buyer should be provided with how to get the information and given the OPTION of waiting seven days to be able to find out on their own if the business is legitimate. That way, it will be a LOT harder for the seller to falsify information and the buyer will be in a more empowered and informed position. Or make it a requirement that the business must provide the information when asked. Because only legitimate businesses are going to follow it anyway, it really needs to put the responsibility in the hands of the person making the financial decision to invest their money. They can decide which information they would like to see. They can then make an informed decision on wether they want to invest in an opportunity or not. I know that I have been so blessed by joining the companies I did, and looking at the information this proposal would provide would not have given me an accurate picture of the companies and how much they could do for a person. I would never have been able to start a business on my own with only $150 for XanGo and $75 for The Pampered Chef. $225 to start a business that is supporting a single mother and five children! That is amazing. Please do not let this proposal ruin the dreams of so many Americans.