| Comment Number: | 522418-08446 |
| Received: | 7/12/2006 8:23:36 PM |
| Organization: | |
| Commenter: | Robert Webb |
| State: | WA |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
I am a 69 year old retiree from Real Estate and Banking but without a retirement income other than Social Security.I have researched many MLM plans as well as others; participated in a few prior finding Xango. This Company has a small $35.00 signup fee and monthly inventory usually runs from $100 to $200. Previous companies became tremendously burdensome to maintain inventories, records, etc. all of which hastened my bailing out of them after a period of time. Newly proposed rules by the FTC would not have helped me with the previous companies as none were fraudulent endeavors, but I have had a good foundation to evaluate these new propsed rules. I feel a seven day waiting period would be rediculous for our company especially when anyone can cancel and bail out at anytime and would only forfiet thier modest $35.00 signup fee. whcih most p eople could afford. To require a list of the ten nearest purchasers of this product would prohibit anyone from talking to people about thier business on a bus, train or plane, etc. because we seldom know where they live in advance. In addition, referencing this type of information to "prospects" could be used by unscrupulous "prospects" for theft and other crimes of the very people the FTC is try;ing to protect, the public. Accurate earnings statement requirements will no keep frauds from cheating, to quote an old saying, "locks only keep the honest people honest" as anyone wants to fraud you they will. Finally, the legal actions requirement to be disclosed are too general and do not allow for outcomes to be aired publicly. I am sure there are many letigations that have been settled either out of the courts or favorably, but would not be part of a prospects consideration cause they would get scared off by the letigation statment alone. The Management team Xango has put together I am sure will be more than willing to help the FTC in developing proper guidelines, punishments, etc. if they were prevailed upon to help. Please consider thier aid in making decisions with my future. Sincerely yours Robert G. and Vonnie Webb Xango Distributor #1393928