| Comment Number: | 522418-07668 |
| Received: | 7/11/2006 1:49:30 PM |
| Organization: | Gaines & Associates |
| Commenter: | James Gaines |
| State: | VA |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
Dear Sir/Ma'am The following comments are relative to your proposed Business Opportunity Rule R511993 as it would impact my independent Quixtar business. I have been an IBO for over 30 years. The income has been good but even more valuable have been the business and self improvement knowledg gleaned.Armed with this information, and it is available to all IBOs, I have accumulated a multimillion dollar net worth and friends around the world. 1. Anyone who registers may rceive a full refund for any monies spent for registration, materials and products.New registrants will spend $50.00 to $160.00 and it is all refundable. Therefore a 7 day wait period is not pertinent to the Quixtar business and would impose great hardship. What if someone has already done their homework and wants to start immediately? Why wait 7 days- the same refund rule applies to everyone. I was in the military and the day I signed the paper I was committed to the system and no way to quit without severe consequences. I had no information about the military except for what I had read in the newpapers and heard from friends. 2. To provide the names of other distributors would be an invasion of privacy. The income I earn from a business is not indicative of the money anyone else can earn.It is based on personal effort. This is a business, not a job. I own 2 other businsses and the income is based on my personal efforts. These both required 6 to7 figure investments with no refunds or waiting periods. 3.A list of lawsuits in the past 10 years is ludicrous. This would open Quixtar and all distributors to false accusations. The unscrupulous companies would ignore the rule. Incidentally, how many lawsuits have been filed against the FTC in the past 10 years? Note that as a distributor I do not represent Quixtar, only my own business. In over 30 years I have not had any lawsuits or do I know of any in my organization. 4. New distributors receive a form SA 4400 that gives average income business wide. The only incomes I know are the people in my organization and those are broad approximations because I don't know how much they earn im personal sales. Get Real! 5. I will divulge my personal income documents only to those with a need to know and not to the numerous prospects that I encounter. My income would impress many folks and others would not consider it worth their time. I earn enough to make it worth my while. 6.Quixtar is the gold standard for homebased business. Suggest that you consult with the folks that run Quixtar to help develop this new rule. In the past they have been involved establishing a number of new government rules and policies related to home based business. Sincerely, James F. Gaines, DVM, MS, LtCol., USAF (Ret)