| Comment Number: | 522418-04913 |
| Received: | 6/28/2006 7:19:31 PM |
| Organization: | Bostic and Associates |
| Commenter: | Gary Bostic |
| State: | NC |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
My wife and I have been Platinum Founders for 30 years and have built a large organization during that time. When we were first shown the Quixtar opportunity it was Amway. Of course a few years ago it transitioned to Quixtar. The first night that we were shown the business plan, we were very excited and wanted to pursue the business, if we had been made to wait the 7 days that you are proposing in your new rules, we would have spoken to many uneducated people asking them questions (for example our parents, our aunts, or best friend, etc.) we would have never continued because they surely would have convinced us not to pursue the business, though they didn't know a thing about it. I cannot imagine the difference in our lives and our children's lives now if that had of been the case. The proposal point of requiring IBO's to give 10 other IBO's in the area is not a bad proposal, that would probably be helpful, though very time consuming and could very easily bog down productivity. The next proposal is not at all wise where an IBO would have to list all legal allegations - lawsuits, arbitrations, etc. against Quixtar and its IBO's from the past 10 years. That is definately a dream killer to talk to negative people that want to sue someone for their lot in life and that is the bulk of what it would be, and any common sense business person knows the lawsuit mentality world we live in. Lastly, the requirement that every prospect receive "substantiation" for every income claim is so time consuming that I don't even know how one would acheive that short of getting all personal income tax returns for each person. That in itself is not even legal, because it discloses other personal and financial information. We already have in the bylaws that we cannot make exagerated or invalid claims about other IBO's. This requirement would be like making another rule to duplicate already existing rules. This is a very lucrative and admirable business with good guidelines already in place as the FDC went to great lengths to discover in court more than 25 years ago. Thank you for your time in reviewing these comments. I hope this helps in making a fair and balanced ruling.