|Received:||7/5/2006 12:24:10 AM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
|Attachment:||522418-06036.pdf Download Adobe Reader|
Comments:Dear Sirs, I want to address the proposed rule changes recently presented to Quixtar. While I admire your willingness to cut down on fraud in our industry, which we've been fighting for many years, you need to adjust the rules so you don't devistate my business. I've been involved with this business for 11 years, first as Amway and now Quixtar. It's been a great experience but every year I come across the "Get Rich Quick" schemes that promise the world and deliver nothing. They all make their money the same way: Charge a large signup fee and redistribute the fee to the organization. That's what you have to stop, not by the new rules your considering. Here's why: 1. 7 day waiting period: I signed up the next day because my mentor flew in from Dallas and I'm in Chicago. He had to leave the next day. With your proposed rules, I couldn't have gotten started. As busy as I was, traveling almost 3 months per year, I would not have gotten started and my life would have never changed. I now make so much money from the knowledge I learned in the business and I'd still be working a job. But today I make over $800,000 a year from all my entities. Maybe consider grandfathering any company that has operated for less than 5-10 years need to comply, but we've been in business since 1959. Additionally, we have a 100% money back guarntee on the sign up and in 11 years I've only had a handful of new IBO's ever want the money back. Additionally, no one makes money when we sign someone up. So, this rule is out of line. 2. 10 IBO Reference: This would kill my business. This would place an undue pressure on the 10 IBO's to answer peoples calls on a constant basis with no profit motive. Additionally, it would put people in a position of cross-lining with people who are not in the line of sponsorship. This is cancer in our business when people with no financial responsibility start giving answers to a complete stranger. Third, the prospects would want these people to sponsor them, thus messing up the relationships of the line of sponsorships. This is a bad idea. 3. List of all lawsuites, arbitration or other legal claims: OK, let's apply the logic to other companies. With ONE IN THREE business getting sued today, lets say we make COKE follow the same rules before the consumer can buy their products? How about making Target or Wal-Mart disclose the same? How about United or American Airlines having to apply the same standard before you can purchase a plane ticket? What about Google having to do the same before you get your results back on your search? The net result would be an immediate halt on most purchases of these products...and our business too. It makes no sense. 4. Disclosure of every income: Quixtar already makes us disclose incomes based on the company averages. So, I make the get rich quick guys do it but we already make disclosures on our incomes. 5. Personal Financial documents to back up every income claim: I would quit the business before I would disclose to a law suite happy public how much I make. With the lottery mentality that Americans have today, I would not do this. Look, the FTC should be promoting personal business ownership in America. Why? The average American is paying 40% of thier income in taxes when you figure up all you pay. With social security, Medicare, medicaid and government pensions totalling $75 Trillion of off budget, unfunded liabilities that 75 years worth of promises, the average american will soon be paying over 50% of their income to pay for these irresponsible promises. So, if you impliment these outragous changes, you will make it so difficult to get started that you'll kill someones only hope of getting Free and wealthy like I have. My life is great because of the priciples I've learned in the Amway/Quixtar business. I have a better marriage, my kids have been raised with Free Enterprise principles. I am blessed in my life. Your rules could have taken it all away.