| Comment Number: | 522418-07239 |
| Received: | 7/10/2006 12:08:51 AM |
| Organization: | |
| Commenter: | Simbu |
| State: | TX |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
==begin rant== I found it odd that a person that runs a business in many states and members of many chambers of commerce and an active BBB member will have to disclose the litigation of every single seller. I have to be punished for some scumbag in backwoods Alabama. Therefore, due to your vague definition of seller (the type of ambiguity you want to avoid) I will not disclose such since the only seller I am aware of is the tax-paying job-creating corporation that has zero litigation against it. <br> I did find it humorous with the statement “serious economic harm to consumers”. I do agree there are a number of disreputable PEOPLE but not as many business opportunities. I would counter that the tens of thousands of people that Enron left behind would be called “serious economic harm to consumers and the consumer’s consumers”. I would appreciate if the FTC and SEC spend more time on such large-scale trickery than $50 transactions. Point of fact, the sum of the numbers stated in the document do not equate to the Enron and accounting firm damages. Of course, this pro-corporation administration would rather crush the small guy anyway. <br> What I enjoy most about the comments is that people that use the supply chain of direct sellers is not mentioned. Rather, work-at-home and vending machines; neither of which I am a participant. <br> On the comments referring to declaration of personal income; I own income property and sell millions of dollars to products to state and federal agencies including the FTC through the supply chain of a direct selling organization. Disclosing that my incorporated B2G entity generates that much income would be greatly misleading to the “consumers” you are trying to protect. Which is why my organization does not disclose but a rule stating I must disclose would force me to disclose a statically un-reproducible income level- an event you desire not to occur in the first place! <br> The seven-day rule I do not have issue with, we use a four-day minimal rule internally. <br> Finally, I have moved to my retirement location and do not know anyone. A neighbor asked me what I explained the various “operating in the black, payroll tax paying” business entities I control. If for some reason this curious neighbor wanted to know more, I could not help him since I do not know seven other people in town! <br> ==end rant==