| Comment Number: | 522418-04597 |
| Received: | 6/27/2006 3:04:31 PM |
| Organization: | |
| Commenter: | John Snider |
| State: | AZ |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
To Whom It May Concern: I have been an independent distributor with Xango, LLC. for over two years. I got involved with this company after being 'downsized' by Motorola, Inc. At the time, I was 64 years old and not ready to fully retire due to the significant reduction in my IRA during the stock market/economy downturn of 2000. At my age, I was not getting any interviews in response to my aggressive job search. I decided to turn to the network marketing industry which did not have any age discrimination relative to offering the opportunity to build a business of my own. After 27 months with this company, I have a business that is generating nearly $30,000 in annual income and growing nicely. This is contributing significicantly to our current lifestyle and is a major factor in my retirement plan. The product that I am marketing is significantly improving the health of many people and I now have a career and a mission that I am passionate about. I appreciate the FTC's mission of consumer protection, but I'm greatly concerned about it's impact on the direct selling industry if the Business Opportunity Rule, R511993 is implemented. I understand that there are fraudulent groups out there, but this particular rule unfairly targets legitimate direct selling businesses. The seven-day waiting period casts the direct selling bus in a negative light; creates cumbersome record keeping and administrative problems; and creates untenable delays in my business. It would severely impact the growth of my business and my future as a successful business owner. Elimination of the $500 business threshold forces the majority of direct selling companies to comply with other provisions of the proposed rule that are more appropriate for businesses requiring a greater investment than a direct selling sales kit. The litigation Reporting is unfair in that it does not distinguish between winning and losing lawsuits. The reporting of almost all litigation regardless of the outcome has no relevence. Providing references the “10 nearest existing sales people” is highly impracticable and creates privacy and safety issues In closing, implementation of this bill would have a far reaching impact of 'unintended consequences' that far surpass any value that it might have in protecting the consumer from unscrupulous businesses. Please do not implement this bill and remove my opportunity to create a lasting business that will serve mankind and be a legacy to my children. Sincerely, John Snider Xango Independent Distributor and U.S. Air Force, Retired