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  Rent to Own Online August, 2009 News Archive

Rent to Own Vendor Profile
Fast Track Services: Crossing the Quality Finish Line
Fast Track Services has acquired the assets of PromoBiz.com and will continue to provide the Rent-to-Own industry with quality service in supplying all your uniform and promotional needs...more

Inconvenient Truth: Wisconsin Payday Loan Study Supports Industry
Sixty percent of Wisconsin residents surveyed view payday advances as less expensive than bank overdraft fees, and 40 percent believe credit card late payments are more costly than payday advances. These are among the results of a new independent study by Julie A. Urban, Ph.D. and Marzeih Bolhassani, Ph.D., both of the University of Wisconsin...more

Rent to Own Vendor Profile
Toshiba: A New View!
Toshiba uses its unmatched processing power to create all new levels of picture quality. In addition, next-generation connectivity and industry-leading cosmetic design have created a new REGZA experience...more


Rent to Own Vendor Profile
Mitsubishi: Larger than Life TV
Demonstrably different and unquestionably innovative, year-in and year-out, MDEA continues to advance and further define the technological landscape that we created and own outright: Large-Screen television...more


Rent to Own Vendor Profile
Florida State Games: Have You Got Game?
Denis Rosen, national sales manager for Florida State Games, spouts facts and figures, but he also exudes excitement and passion for the future of a new era of interactive video gaming aimed at new audiences...more


Rent to Own Vendor Profile
BriteLite: DJ Kits Are Meant to Rent
RTO dealers have seen the impact of the DJ Pack 3000 in their stores and most dealers have already re-ordered multiple times...more


SIGNS4RETAIL Adds Non-Rip Plastic RTO Window Signs
RTO dealers can choose from a new selection of attention-getting, plastic window signs with RTO-specific messages like: Rent To Own, Lease Purchase, No Credit Checks, Low Monthly Rates, Quality Brand Names, Rent To Own Appliances, Rent To Own Computers, Rent To Own Furniture, First Week Free and more...more


RentDirect to Increase Appliance Co-op Funds 66 Percent
RentDirect Nationwide, the rent-to-own industry's largest buying group, today reported a 20% increase in registrations for the upcoming PrimeTime! buying show compared to 2008. Group executives said the increase is being driven by a 66% bump in appliance coop funds being offered to RentDirect members at the show...more


Tempur-Pedic President Resigns Association Chairmanship Over Disputes
Rick Anderson, President of Tempur-Pedic North America, has resigned as Chairman of the International Sleep Products Association (ISPA) citing disagreements with other association members...more


Havertys Reports Same Store Sales Drop 22 Percent
Havertys Furniture (NYSE:HVT) today reported net sales for the second quarter of 2009 were down 23.0% compared to 2008. Same store sales decreased 22.6% for the quarter...more


Stores Plagued by Inventory Stagflation New Study Finds
RSR Research's latest report, "Precision Inventory Management in the Age of Localization" finds some retailers plagued by "inventory stagflation": high inventories and high out of stocks...more


Rent to Own Vendor Profile
Coaster: A Perfect Fit
Coaster Fine Furniture recognizes that the smaller footprint of a typical rental store is a perfect fit for their quick-ship inventory program and is rolling out new initiatives that underscore the company's commitment to rental dealers...more


Rent to Own Vendor Profile
Classic Flame: Heating Up Rental Profits
Rental-purchase customers are getting excited about a variety of hot new products offered from ClassicFlame Electric Fireplaces. As an award-winning leader in the electric fireplace category, ClassicFlame offers a selection of more than 30 different model...more


Rent to Own Vendor Profile
Catnapper: Quality and Durability Go Hand-in-Hand.
If you're looking for comfortable, durable furniture for your rental customers, you would be hard-pressed to find any better made than Jackson/Catnapper, America's comfort specialists...more


RTO Magazine Ships 2009 Summer Vendor Directory
RTO Magazine, the rent-to-own industry's leading trade magazine, is now shipping the Summer 2009 Rent to Own Vendor Directory Issue. Over 11,000 print copies will be mailed to subscribers in the U.S., Canada and the UK, and distributed at upcoming tradeshows and conventions...more


Rent to Own Vendor Profile
Marcone: Appliance Parts, Cooling and Heating Essentials and Property Maintenance Supplies
Marcone is a third-generation, family-owned business that is well-known as the #1 product support company in the country with world class service provided through each of its 40 nationwide locations. The company's extensive inventory includes water filters, range goods, range parts, furnace filters, ice makers, refrigerator parts, washing machine parts...more


Rent to Own Vendor Profile
GE: Exciting Debuts in 2009
Our first feature-packed radiant range, Steam Clean, offers progressive features such as hidden bake, dual element, TrueTemp, an oversized window and steam cleaning for just $499. And in GE, new Convection Bake models are being introduced with either four or five elements for $699 and $799, respectively... more


Rent to Own Vendor Profile
Frigidaire Helps Rental Customers Save Money and Energy

In 2009 Frigidaire will be focusing heavily on energy conservation and helping to educate consumers on making the right appliance choices. Our "Swap and Save" program is specifically designed to show consumers the savings in actual dollars and cents they can realize by trading in their old appliance and renting or owning a Frigidaire Energy Star Appliance...more


Rent to Own Vendor Profile
Climatic Corporation: Provide the Best Products at the Best Price
If one of your distributors isn't Climatic Home Products, the answer is "No!" Our Rent-to-Own partners have the advantage of offering the award-winning Samsung appliance line, including the new 33-inch-wide French door refrigerator that really fits your niche...more


RentDirect Partners with Stealth Security Services
"We just had Stealth put in cameras at all 7 of our locations - outstanding service! Already, I've realized the value and importance of having security cameras in place." - Jeff White, Owner, Rent One...more


Waterbury ColorTyme Supports Youth Service System
To Steve Dwyer, supporting the Waterbury, Connecticut community – where his ColorTyme store is based - means everything to him and his team. Recently, Dwyer and his staff donated a Whirlpool stove to the Waterbury Youth Service System – a non-profit organization dedicated to promoting the overall well being of children, youth and families...more


Furniture Industry Launches Multi-Channel Ad Campaign
In an effort to boost sagging furniture sales, World Market Center Las Vegas will underwrite a $20 million multi-year marketing program. The creative contract has been awarded to Ogilvy North America...more


Amscot Launches 4th Annual Just a Dollar Campaign
Over the past three years, Amscot and its customers have combined to raise more than $190,000 for local education foundations...more

easyhome Enters Waco Market
Bud Gates, Chairman and CEO of easygates, LLC announces the opening of a new easyhome store in the Brazos Square Shopping Center in Waco, Texas on August 1, 2009. This is the third store opened by easycompany, LLC, an easyhome franchisee based in Wichita, Kansas...more

Liquid Tax Adds Unlimited Tax Forms
"The natural evolution of the tax prep industry is to provide more value for less money." - Cammy Loftin, President, Liquid Tax...more


Editorial: Democrat Health Bill Could Handicap Small Businesses
"Rather than helping small businesses with common-sense solutions to make health care more affordable, the Democrats' bill actually creates a climate that destroys jobs." - Rep. John Boehner, House Minority Leader...more


Economist Warns Against False Hope of Rapid Recovery
Bart Van Ark, chief economist for The Conference Board, today cautioned against placing too much significance on the better than expected GDP numbers reported today...more


Frigidaire Recalls 35,000 Washers
Frigidaire is recalling 35,000 3.1 cubic foot washing machines due to a potential fire hazard. No incidents or injuries have been reported, however an internal defect in the washer's drain pump can cause heat to build up, posing a fire hazard to the consumer...more


Aaron's Partners With Mossy Oak in Dream Machine Promo
Aaron's (NYSE: AAN) Outdoors television program and Mossy Oak Brand Camo have teamed together to produce a marketing campaign that features specialty paint schemes on three NASCAR racecars and a national sweepstakes...more


Multiple Trade Associations Move Industry Forward
A single trade association may seem normal to rent-to-own professionals, but in other retail sectors, multiple associations are the rule, not the exception...more


Teletrack Adds Credit Attributes to Expedite Risk Assessment
"More effective attribute management can help to improve operational efficiencies, save time and money and enable a more efficient approval process." - Dale Williams, President, Teletrack...more


Job Outlook Dampens Consumer Confidence
Consumer Confidence, which had retreated in June, declined further in July. The Index now stands at 46.6 (1985=100), down from 49.3 in June...more


easyhome Schedules Q2 Conference Call
easyhome (TSX:EH), Canada's largest rent-to-own company, will hold its quarterly management conference call on Wednesday, August 12, 2009 at 4 pm EST...more


Rent-A-Center Disappointed in Washington AG
In a bid to bring context and clarity to bear on the allegations in yesterday's Washington State Attorney General's press release, Rent-A-Center, Inc. (NASDAQ:RCII) today offered the following responses...more


Rent-A-Center Q2 Same Store Sales Drop 6.2%
"Our average price per customer agreement was lower than expected in the second quarter, which we believe reflected our customer's discretion in this difficult economy." - Mark E. Speese, Chairman and CEO, Rent-A-Center...more


New York City Electronics Recycling Law Could Add Millions to Cost
The Consumer Electronics Association (CEA) and the Information Technology Industry Council (ITI) have filed a legal challenge against a new law in the City of New York mandating that manufacturers provide free, door-to-door electronics collection to City residents...more


SBA Activity Gives False Impression of Recovery
"We are concerned that signs of recent increases in SBA loan activity are creating a false sense of recovery of this key marketplace." - Matthew Shay, President & CEO, International Franchise Association...more


RentDirect Schedules HotShow at PrimeTime!
RentDirect Nationwide members will be coming from all over the country to attend PrimeTime! at the Walt Disney Swan and Dolphin Resort in Orlando, Florida on August 16-19...more

Rent-A-Center Denies Washington AG Allegations
Rent-A-Center today denied Washington State Attorney General Rob McKenna's allegations of unfair and deceptive debt collection practices. "We feel that the claims will be proven patently false," said company spokesman Xavier Dominicis...more

LG Electronics Commissions Happiness Index Poll
"We embarked upon this research to understand the current temperament of the British psyche." - Paul Meadows, head of brand at LG Electronics...more

Economy Shrinking Paychecks
More than one-third of U.S. employees report they have not received a raise this year or that their compensation has decreased, according to a poll by ComPsych...more

ColorTyme Manager Helps Win Mount Rainier to the Pacific Relay
ColorTyme Store Manager Dave Ross and his running team won the "Mount Rainier to the Pacific Relay" – a 154-mile foot race that starts in Ashford, Wash., and ends in Ocean Shores, Wash. His team crossed the finish line in just under 19 hours, effectively sealing their first place title...more

Washington AG Accuses Rent-a-Center of Harassment
Washington Attorney General Rob McKenna is accusing Rent-A-Center (NASDAQ:RCII), the nation's largest rent-to-own company, of unfair and deceptive debt collection practices...more

Summer NAMM Tradeshow Attendance Plunges 26 Percent
Attendance at NAMM, the National Association of Music Merchants, Summer convention in Nashville plunged 26 percent from 2008...more

easyhome Names New Chief Financial Officer
easyhome Ltd., Canada's leading rent-to-own company, today announced Chris Fregren, easyhome's current Senior Vice-President and Chief Financial Officer, is leaving the business effective August 16, 2009...more

Bill Short Resigns as Executive VP Ops Rent-A-Center
Bill Short has resigned as executive vice president of operations for Rent-A-Center (NASDAQ:RCII) effective Wednesday, RTO Online confirmed today. Rent-A-Center, the world's largest rent-to-own company, said no official statement was planned...more

Aaron's Driver Bourque to Donate NASCAR Winnings to Military Fund
Pierre Bourque, a political news-writer turned NASCAR driver, will pilot the Aaron's (NYSE:AAN) Dream Machine at this weekend's NASCAR Canadian Tire Series race in Edmonton, Alberta...more

Signs4Retail Adds RTO Pole Banner Line
Leading Rent to Own industry sign manufacturer, SIGNS4RETAIL, has added a new line of attention-getting, stock WindBlade pole banners with RTO-specific messages...more

Anticipated Increase in Tax Refunds to Benefit RTO Dealers
"This up coming tax season may have some individuals receiving refunds nearly double what they've received in the past." - Cammy Loftin, President, Liquid Tax...more

Aaron's Enters into Marketing Partnership With Hotel Chain
"The demographics of Aaron's customers and La Quinta customers are very similar, so the two companies working together made perfect sense." - Gary Reeves, Director of Partnership Development, Aaron's...more

Aaron's Reports Same Store Revenues Up 8.4%
For the second quarter of 2009, revenues increased 8% to $417.3 million compared to $387.0 million for the same quarter a year ago. Net earnings from continuing operations were up 24% to $27.8 million versus $22.4 million in 2008. Diluted earnings per share were $.51 compared to $.43 per share a year ago, a 19% increase...more

Retailers Welcome CIT Deal to Avoid Bankruptcy
The National Retail Federation today welcomed reports that CIT Group Inc. has reached an arrangement with its bondholders that would allow the lender to avoid bankruptcy...more

Persistence Pays For Premier Rental-Purchase Franchisee
Despite the fact that his building wasn't finished, he had no sign and getting a loan had been a long hard road, Tom Opial opened his first Premier Rental Purchase store in Murfreesboro, Tenn. last May...more

RTO Pro Expands Inventory, Depreciation Functionality
After requests from its over 800 single and multi-location users, RTO Pro, a leading provider of point-of-sale rental-purchase software, today announced two new features to its Windows-based program - Company-wide Inventory and Multiple Depreciation Methods...more

INform Launches Hats Off Promo
INform Print & Promotions, Inc., a 28-year rent-to-own industry supplier of Door Hangers, Postcards, Flyers and Ad Specialty products, today announced a new low-minimum order "HATS OFF" customer promotion...more

Electronics Shipments Drop for First Time Since 2001
The consumer electronics (CE) industry will see overall shipment revenues decline in 2009 according to data released by the Consumer Electronics Association (CEA)...more

RTO Photo Galleries: American Rentals Trade Expo
Over 140 Rent to Own professionals from American Rental kicked of the company's 25th annual convention and tradeshow Friday in Nashville, Indiana. Managers spent the morning visiting 70 vendor booths for training and new-product updates...more

RimTyme Dog Days Promo a Hit With New, Existing customers
Throughout the first half of July, several RimTyme locations celebrated the "dog days of summer" by hosting customer appreciation events...more

Report Shows Employers Struggle with Ill-Prepared Workforce
A new report shows that U.S. employers continue to struggle with an ill-prepared workforce, finding new hires lack crucial basic and applied skills...more

Payday Loan Industry Economic Impact Study
In a first-of-its-kind survey sponsored by the Community Financial Services Association of America (CFSA), financial analysis firm Global Insight examined the economic impact on the American economy of the payday advance industry's 23,000 store fronts...more

Register for the 2010 International CES
The Consumer Electronics Association (CEA) announced today that registration is now open for the 2010 International CES, the world's largest consumer technology tradeshow, scheduled for January 7-10, 2010 in Las Vegas, Nevada...more

High Touch Supports Habitat for Humanity Workday
A single, working mom wants a safer place to live and separate bedrooms for her two young children. High Touch, a provider of rent-to-own store operating software, wants to make a difference for the Lee family and other families in need...more

Jennifer Convertibles Retains Strategic Advisor After Continuing Sales Decline
"We have retained the investment banking firm of TM Capital to assist us in the evaluation of our strategic alternatives." - Harley J Greenfield, CEO, Jennifer Convertibles...more

Great Plains Population Increase Masks Loss in Majority of Counties
The Great Plains population more than doubled from 1950 to 2007. Yet at the same time, 244 of the region's 376 counties saw their populations decline, with 69 of them losing more than half their population...more

About Hispanic Heritage Month: Sept 15 - Oct 15
In September 1968, Congress authorized President Lyndon B. Johnson to proclaim National Hispanic Heritage Week, which was observed during the week that included Sept. 15 and Sept. 16. The observance was expanded in 1988 to a monthlong celebration (Sept. 15 – Oct. 15)...more

Whirlpool Opens China Manufacturing Plant
Whirlpool (NYSE:WHR), today inaugurated their joint venture manufacturing facility in China with Hisense Kelon, one of the country's leading electronic and home appliance companies...more

Follow the Money: Why Credit Unions Oppose Payday Lending
A nationwide independent survey found that nearly half of all credit-unions (44.5%) have greater overdraft fees than net income - shedding light on the real reason credit unions and their consumer advocate allies oppose payday-lending so vehemently...more

Consumers Demanding Larger Netbook Displays
"It is clear that buyers want a light-weight device, but that they also want a bigger display." - John F. Jacobs, Director of Notebook Market Research, DisplaySearch...more

New Products Planned for September Las Vegas Furniture Market
In a recent survey of exhibitors conducted by World Market Center Las Vegas, 94 percent of the respondents said they are going to launch new product during the September Market...more

Employee Loyalty Linked to Recognition
"Loyalty to one's employer is very dependant on recognition. Staff who feel their involvement is not acknowledged are more likely to become disloyal." - JB Aloy, Ipsos Ried...more

New York Times Ignores Positive Payday-Loan Research
The New York Times editorial board published an opinion on July 12 entitled Borrowers Bled Dry. The piece claims that the New York legislature "unknowingly legalized loan sharking" by failing to cap interest rates on payday loans at 36 percent...more

Dell Sees Continued Weakness in Demand
"We continue to believe that customers are deferring IT purchases." - Brian Gladden, CFO, Dell...more

Video Update: Hughes Leads Princeton Tigers to World Championship
The Princeton Tigers, coached by Greg Hughes, son of ColorTyme franchisee Gary Hughes, capped a perfect season by winning the 2009 Temple Challenge Cup at the Royal Henley Regatta...more

Rent-A-Center Donates $12,000 to Bronx Community Center
Rent-A-Center, the nation's leading rent-to-own company, helped strengthen the sense of community for families residing in the Edenwald Housing Complex. Area Rent-A-Center representatives delivered and assembled more than $12,000 in electronics and furniture for the new Edenwald Beacon Community Center...more

Rental Purchase Act House Co-Sponsorship Breaks 100
Representatives from Illinois, Virginia and Pennsylvania today announced their support for the Consumer Rental Purchase Agreement Act, bringing the official House cosponsor count to 101, the highest level of support ever achieved in the House of Representatives...more
 

CRL Claims Payday-Loan Demand Exaggerated
A new report by the Center for Responsible lending (CRL) claims that demand for payday-loans is exaggerated. The report - Phantom Demand - comes just days before the California Senate Judiciary Committee hearing on AB 377, a bill that would raise the payday-loan loan limit in California from $300 to $500...more

 

 
 
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