| Comment Number: | 522418-07297 |
| Received: | 7/10/2006 12:08:49 PM |
| Organization: | |
| Commenter: | Johnny Rhoda |
| State: | AR |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
Thank you for reading my comments. My wife and I have been in the Amway/Quixtar business for over 20 years. I believe we have a good working knowledge of this business and industry as a whole. I applaude your efforts to prevent fraud and deception. However some of the proposed "rules" will in my opinion restrict good growth for honest business owners while doing nothing to prevent fraud. I have seen hundreds of the "just like only better" companies come and go over the last 20 years. This business is built on hope and trust, hope for a better life and trust in the person who is helping you. Waiting 7 days will not help, it will only hurt ALL concerned. We have a buyback rule in place already. The proposed rule regarding "local references" is invasive. Also please define "local", is that 3 miles or 30? Local means different things for an urban vs. rural business owner. Do used car dealers have to provide references? No. On the proposed rule re: litigation, I suggest that you consider wording such that it will list only court/ arbitrated decisions. And, not include fraudlent or frivolous cases. Your proposal re: specific earnings disclosure is in my opinion an infringement on my privacy. We have always told people that this is not a get rich quick or something for nothing program. It requires work and the development of people skills. Once these are done you can earn accordingly. To require that I release personal financial information is an affront to my privacy. We have in place and use in every presentation a form 4400 which lists the average earnings for our business owners. Also, the rule proposal on financial substantiation, is an infringement on privacy. If my business was a publically traded company, then financial information should be accordingly verified. But I am a small business owner, not a publically traded company. Ther is no need for any business owner in the Quixtar business to "puffup" income figures. The record and accurately disclosed information for the Quixtar corporation is sufficient Again I applaud your efforts to prevent fraud. I believe that we, who have been in this business for decades, know how to adequately recruit and train new people in this business. We do it honestly and fairly. We know that it takes work, and we tell people so. Please, pursue your efforts to prevent fraud, but where possible consider my recommendations based on 20 years of a GREAT experience with this business. My association with this business and it's leadership has taught me more than I ever learned in college. It truly has been a Blessed experience!