| Comment Number: | 522418-06350 |
| Received: | 7/6/2006 12:34:18 AM |
| Organization: | Quixtar |
| Commenter: | Ken Hendon |
| State: | PA |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
Dear Ladies and Gentlemen of the FTC; In my career with Amway- Quixtar (1977-present) I have seen many companies come and go. I have seen many rules imposed on my business and have suffered through many attacks by illegitimate companies and individuals. I have see the unintended consequences of rules and laws and taxes (I.e., the luxury tax that destroyed the boat business in America). The proposed rules would have horrible affects on the best business in the country. Amway-Quixtar has always offered a 100% money back guarantee. They have always enforced every rule of disclosure. Of the many corporations I have known through my father’s career (Exec. V.P. of several fortune 500 companies) none have come close to the integrity of Amway-Quixtar. Any and all companies who do not offer a 100% money back guarantee should be subject to strict disclosure rules; but what is the point for legit companies who do offer a 100% money back guarantee? The Independent Business Owners associated with Quixtar are fantastic giving people who only make money when others make money first. We bust our guts to help people grow. Some people are over enthusiastic, they exaggerate. We do our best to educate these people, because they primarily hurt themselves. Some people are con artists. I have been conned many times because of my wanting to believe the best in people. This is called LIFE. For those un happy people who feel that they have been wronged we have a money back guarantee and beyond that we have an arbitration system. We have a working system that eliminates those violating the rights of others. My job is to protect my organization from illegitimate influences. Your job is very similar. Neither of us wants the rights of consumers or business people violated. But the proposed new rules would destroy my business and the business of thousands of others. How? Let me explain: A. A seven day waiting period after “disclosures” is incredible. There is only a three day right of rescission when buying a house or car. We already offer a much longer money back guarantee. B. The current disclosures are silly. 95% of all business fail, but how many people get their money back? When I started my construction business no one had to tell me that most new construction companies fail. Over 50% of college freshmen fail to get a degree (including Bill Gates and Mike Dell) should they have gotten their money back? Were they cheated some how? Can we not assume some degree of common sense? C. Imagine buying a car . You have to read all of the lawsuits ever filed against that company and wait seven days before you can get your car. One anti-American judge in Canada filed over 600 lawsuits against Chrysler alone. This character then has the power to entirely shut down an American company. What happened to the concept of innocent until proven guilty? D. Morons and crooks will always start business. No amount of legislation will change this sad fact. However, most of these will immediately fail, because those of us with common sense will avoid them and tell others. Some will survive and even prosper even though they lie, cheat, and steal; the full weight of law should fall on them. In most cases existing laws cover these frauds. E. The asking for seven references is interesting. Logically a new person could never get another. End of story. With no new people allowed to sponsor how could we build our business? F. All legit Independent Business Owners would like to see those who do not treat people properly eliminated. We would like to help in this. Ask us for ideas. John Kenneth Hendon Ken and Joan Hendon