| Comment Number: | 522418-10836 |
| Received: | 7/16/2006 11:03:29 PM |
| Organization: | QUIXTAR |
| Commenter: | ROBERT RIDDELL |
| State: | VA |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
We have been Quixtar IBO'S since it opened in 1999. We have had a very positive experience and are currently working towards a level that would free my wife from her job. Not only have we had very competent and honest help, we have enjoyed the relationships with the people that have sponsored us and those we have introduced to the business. We were not pressured into any decision and this organization does not pressure anyone into doing anything. I also operate this same way as to not pressure anyone to sign up and counsel them in person as well as the provided SA-4400 forms about the work involved. I make sure that those I sponsor know that all their money is refundable 100% and that there is no risk involved. Most of the people I sponsor spend about $175 on their initial investment with the knowledge that if it does not work for them--ALL of their money is refunded. I would like to address 2 concerns about the current proposals. 1.As for providing references to prosepective IBO'S, with today's possibility for identity theft by some dishonest people, I think this would be handing someone more information that could end up hurting those other local IBO's. Although this is not a big concern with the local people I am involved with, there is the possibility that if other IBO's were listed, my prospects may choose to join with them thus negating the work that I had done. It should also be noted that obviously there is a very close invasion of privacy here. Why hand over information on other IBO's with addresses, phone numbers, etc. This could have disastrous consequences in the wrong hands. Since we have local meetings , meeing others involved in the business would be easy to do without the giving out of personal information. 2. About the requirement of disclosing financial information, this again can lead to disastrous consequences. IBO's that earn substantial income could be at risk for identity theft, extorition or other crimes since an unscrupulous person would know exactly how much money would be involved. I would compare this to any person making over $100,000 per year publicly disclosing this income in a newspaper. Here again, the idividual is open to kidnapping, robbery, etc. Would any public officials like this type of information disclosed? I never reveal my exact income to prospects, only the IRS. Since income can change on a monthly basis, this figure would not be representative anyway. My answer to the income question ( when asked) is--I am making enough to continue building my business. Simple truth. Since I would pay any taxes on my income required, if I had to disclose my income then so should every single person in every walk of life. Not a practical or safe idea for anyone. To the IRS for income tax-OK, General public, I think not. These proposals seem to put many hard working honest IBO's at risk. I applaud the FTC for attacking the illegal businesses but there should be some alternatives here.