| Comment Number: | 522418-10525 |
| Received: | 7/16/2006 4:32:24 PM |
| Organization: | RING ENTERPRISES |
| Commenter: | EDWARD RING |
| State: | MS |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
To whom it may concern: I am a Quixtar.com IBO and I’ve been involved since the website came online. My goal in the business is to help others achieve their goals and to develop an income stream so I don’t have to depend on social security in retirement. I have meet a lot of good people in the business and I’ve learned a lot about helping others succeed. I’ve read a number of books about leadership and being of service to others. My goal is to make a difference in others lives. When I was looking into this business model, I took my time. I did my homework and asked a lot of questions. Then after a month, I knew it was the right business for me. I knew it was going to take work and we get paid on creating volume. The cost to register is cheap….$45 plus some business support materials. The products an excellent. I’d like to address some specific issues: The requirement of a seven-day waiting period: I think it is up to the individual person. Let the new business owner decide when is the right time for them. Some want to sign up right away & others need some time. It took me 30 days… The requirement to provide references: I encourage my new people to talk to my upline. They add credibility. I don’t think people want us giving out their private information. This violates the privacy act. The requirement to provide a "litigation list": The disclosure document would require a list of all litigation involving the seller, its key personnel, and its representatives that deal with "misrepresentation, fraud, securities law violations, or unfair or deceptive practices with the past 10 years." Should the armed forces do the same for new recruits? . This information is public information available on the internet. Some of these cases are without merit. For most people this is not an issue in the Quixtar business The requirement for specific earnings disclosures: Quixtar does make a point that the average earnings for active IBO is just over $100 per month. I think this is an adequate statement. I always tell people that you get paid on volume and if there is no volume then there is no money. If no one buys anything from Wal-Mart on a particular day, then they lose money. The requirement for financial substantiation: I don’t think it is anyone’s business what I make in business or from a job. Do you think a person working at Wal-Mart would tell their customers what they make? They would be embassassed at how little they make.