Home

Early Indications Are For A Frugal First Quarter
19.4% of consumers questioned in early January reported “putting on hold” purchases of $500 or more in the December shopping period, compared to 16.2% in December 2005 and 12.5% in December 2004...more

Samsung Captures the Number One Unit and Dollar Share for Flat Panel TVs; Number One Unit Share for LCD TV
The industry’s overall digital TV unit sales have grown 54 percent. Samsung demonstrated market strength in all four digital TV categories - LCD, plasma, Microdisplay and Flat Tube...more

Nokia, Motorola, Samsung Top Three Mobile Phones In 2006; Record One Billion Plus Units Shipped In 2006
Mobile TV, which has been talked about for many years, is finally coming to the forefront in select markets. It now appears that mobile advertising will play a key role in the adoption of mobile TV by consumers...more

Rent To Own Industry Photo Library
RTO Online has been providing live coverage of industry events for for nearly five years. We have amassed a library of thousands of pictures from various company events, tradeshows and conventions...more

EZCORP Payday Loan Revenues Up 47%; Rotunda - "Consumers choosing payday loans over more expensive traditional institutions"
"Our customer, who is well educated and informed, is choosing our short term loan products because they are a lower cost alternative." - Joe Rotunda, CEO, EZCORP...more

PC Rental Agent Continues Protecting Rental Computers; Now Compatible With Windows Vista
Some people think the software is metering software where it expires unless they issue a key or do something each time the customer makes a payment, or a prepaid product that turns off the computer unless the customer renews. This is NOT the case and once they understand how it works and that there is nothing to do unless the customer skips or stops paying they get excited." - Tim Kelly, DesignerWare...more

RentDirect vendor Profile
PromoBiz Dresses RTO
A one-stop uniform and promotional product supplier, PromoBiz.com has got the goods RentDirect members need to get their store name in customers’ hands. “We are proud to be involved with the rental industry for the past several years. We were at the last RentDirect show and these shows give us such great exposure to a broader range of customers. RentDirect has been a very effective way for us to promote our service and connect with new customers.” - John Howard, Partner, PromoBiz...more

Independent Retailers Outperformed Chain Stores In December
Best Buy was one of the chains that ignored outward signs of the holiday season. When asked for the Consumer Mind Reader if they would have shopped Best Buy had they known the store didn’t decorate or allow employees to say Merry Christmas, only four in nine said they would have shopped anyway...more

Editorial - By Roy Griffaw, Publisher, RTO Online
Payday Loan Association Sets Dangerous Precedent By Attacking Own Industry
Most disturbingly, the association also strongly implied that any company that has chosen not to join the association has done so because of a purposeful intent to “prey” upon consumers...more

Aaron's Ken Butler III Named Most Popular Hooters Pro Cup Driver For 2006; Wraps Up Pro Cup Career In Style
Next year Ken Butler will take a step up to race in the ARCA RE/MAX Series and the NASCAR Craftsman Truck Series. His 2006 season in the Pro Cup Series was one of his most successful racing seasons. Butler racked up numerous top-10’s and top-five finishes on his way to Most Popular Driver...more

WithIt Names Keynote Speaker for Women in Home Industries Educational Conference
WithIt, the premiere organization dedicated to the support and development of female professionals in the home furnishings industries, named Melissa Galt as keynote speaker for its annual educational conference...more

Virginia Senate Committee Votes To Allow Payday Lending To Continue In State With Restrictions
Members of the Virginia Senate Commerce and Labor Committee voted 11-4 to add certain restrictions to the state's payday Loan operators (Senate Bill SB1014)...more
 

Convention Coverage
Podcast Interview With ColorTyme President Bob Bloom; Dallas Convention Wraps
Photo Galleries - 381 Pics
The annual ColorTyme ColorTyme Winter Operations Meeting wrapped in Dallas, Texas Tuesday after the company's General Session, tradeshow and a farewell cocktail party. Five time Super Bowl champ and NFL Hall of Famer Rayfield Wright was the keynote speaker at Monday's General Session...more

Convention Coverage
Rent to Own Renaissance Men; Podcast Interview With Four "New Breed" ColorTyme Franchisees; Cort Hill, Mark Martin, Louis Garcia and Scott Brown
This is ColorTyme Franchisee Cort Hill's first convention as an owner after successfully opening his first store in Elkton, Maryland just 8 weeks ago. Hill has invested 18 years in the Rent to Own industry gaining valuable experience from major players including Aaron Rents, Cort Furniture Rental, Rent-a-Center and ColorTyme. According to Hill, the ColorTyme system allows him the freedom to put his experience to work, blending the best tactics from each model and combining them to create his own personal style...more

Rental Industry Goes Green
Poulan Outdoor, North America’s leading manufacturer of lawn and garden equipment, helps RentDirect members gain agreements with a nontraditional rental category. “There is a great opportunity for rental dealers to bring in our merchandise without taking up precious showroom space. The most successful operators display the riding mowers outside the store, exactly like the big-box retailers do. Then at night, they just roll them back in the store again,” according to Todd Gay, Sales Manager for Poulan Outdoor...more

Championship Fever Makes Sports Furniture The Hot Product
"A great way to capitalize on each sports championship is to purchase and promote Baseline’s furniture for your rent to own store(s)," said Brown Councill, RTO Sales, Baseline Licensing Group...more

Convention Coverage
Podcast Interview With ColorTyme VP Ops Tim Hogan; ColorTyme Dealers Prepare For 2007 Winter Operations Meeting
Coordinating operations in nearly 300 franchise locations in 40 states owned by a wide range of entrepreneurs is the job of Tim Hogan, ColorTyme Vice President of Operations...more 

Letter to the Editor; RentCash VP Responds to Recent Damaging Statements By Canadian Payday Loan Association
"You are correct to note that the Canadian Payday Loan Association (CPLA) is willing to sacrifice the reputation of 60 percent of Canada’s industry. The CPLA through its January 18th press release suggests that all non-members of the association are preying upon consumers. Nothing could be further from the truth." - Michael Thompson, Vice President Investor Relations and Government Affairs, RentCash...more

Rick Rineberg Cites Rent-A-Center Career As Foundation For ColorTyme Store Ownership; Opens Second ColorTyme In Less Than One Year
“I thought that working for RAC would just be a starter job, to get my foot in the door straight out of college. After spending time working with my dad and seeing the potential opportunities, RTO turned out to be a really unique industry to work in and seemed to fit my personality.” - Rick Rineberg, ColorTyme Franchisee...more
 

RTO Vets Richard Rose and Jeff Loeb To Bring Wheel and Tire Rental To Virginia, DC
Longtime RTO veterans Richard Rose and Jeff Loeb, partners in R.T.O., Inc, with stores in Virginia and North Carolina, have signed a market development agreement with Rent N Roll...more

Eating Your Young; Canadian Payday Loan Association Urges Government to Shut Non-members Down
In addition to throwing 60% of Canadian payday loan operators to the political wolves in exchange for federal legislation, CPLA asked legislators to set a maximum rate that would, by their own admission, force many independents out of business...more
 

Hooker Furniture Exits Domestic Wood Furniture Manufacturing; Company Closing Last Plant
"It has never been our desire or intention to exit domestic wood furniture manufacturing. We have reacted to the demand of our retail customers and the consumer for high-value imported products and the changing business model in our industry." - Paul B. Toms Jr., Chairman, CEO and President, Hooker Furniture...more

PC Sales Weaken As Notebooks Gain
Poor commercial demand, affecting vendors such as Dell and Lenovo led to unseasonably weak performance. However, the consumer notebook market was solid, essentially benefiting vendors active in the retail sector...more

RentCash Recognized By Alberta Venture Magazine; 595% Sales Increase In three Years
"Clearly, we are being recognized as an increasingly important contributor to Alberta's economy. Every associate at Rentcash is immensely proud of this important achievement." - Gordon J. Reykdal, Chairman and CEO, Rentcash...more

Frequent Movers Buy More Consumer Electronics
"In some cases, over one-third of all the households buying these new CE products have recently moved. That's not a segment you want to disregard. Consumer electronics companies should target households on the move through discounts and promotions." - John Barrett, Director of Research, Parks Associates...more

Small Business Owners Optimistic About 2007; Gallup Survey Says Owner Optimism At Four Year High
"While many economists are forecasting a weaker economic environment for 2007, small business owners are, according to the results, expressing no signs of an economic downturn." - Dr. Scott Anderson, Senior Economist, Wells Fargo...more

40% Of Brick and Mortar Retail Sales Will Be Influenced By Online Research By 2011
"With market maturation comes opportunity for the retailers that can harness the power of the Internet to influence off-line sales." - David Schatsky, President, JupiterKagan...more
 

La-Z-Boy Names Former Circuit City CEO To Board
McCollough, 57, was the CEO and Chairman of the Board of Circuit City Stores, Inc. prior to retiring last year...more
 

01-12-07
Federal Reserve,  "Payday Lending Not Predatory"; Soon to be released report debunks activist myths
"Our findings seem mostly inconsistent with the hypothesis that payday lenders prey on, i.e., lower the welfare of, households with uncertain income or households with less education." - From a study just completed by the Federal Reserve...more

RentDirect vendor Profile
Ashley Furniture; Country’s Top Furniture Company Focuses on RTO As Major Channel of Distribution
“Our delivery programs are probably one of the most important benefits to the rental industry. We hold the inventory for our rental partners since we know most don’t have the luxury of warehouse space." - Jim Williams, Vice President of Sales for Ashley’s Upholstery Division...more

U.S. Consumer Confidence Increases As Expectations Soar At Start Of New Year
Consumers’ economic outlook has skyrocketed during the past month. This month’s index score represents the strongest level of optimism for future conditions in more than two years...more
 

John George Opens Buffalo, New York Premier Rental Purchase
John George started as an account manager for Rent-to-Own, managed a store for a year and a half, became a multi-unit manager and finally a regional director overseeing 53 stores – all in Buffalo, New York...more

Industry Forms LCD TV Association
The LCD TV Association will help to drive the creation of better LCD TVs in the future-realizing the organization's motto of "A Great TV in Every Room...more

Nintendo Records Best Holiday Selling Season in U.S. Video Game History
Throughout the November/December holiday shopping period, Nintendo accounted for more than half of all video game hardware systems sold in America...more

2007 CES Wraps; Record 140,000 Attendees
With high-definition television (HDTV) taking the industry by storm, a surge of display technologies debuted on the show floor, with record-breaking sizes and even greater resolution...more

Vegas Furniture Market Plans Mega Bash To Celebrate Building B
The entire industry is invited to be our guest at this spectacular party, where attendees will enjoy world-class entertainment and dine on the best culinary offerings that Las Vegas has to offer." - Harvey Dondero, CEO, World Market Center...more

LG Multi Format DVD Player Named Best of CES 2007
"This year, the LG BH100 stood out for the freedom it offers consumers who have been faced with the HD DVD and Blu-ray format war." - Jai Singh, Editor in Chief, CNET...more
 

CEO's Confident in Growth, Low Inflation In Near Term
The majority of chief executives expect changes in their firms' selling prices in 2007, with just 10 percent anticipating price increases in excess of 10 percent...more

SED International Announces Master Distribution Agreement With Microsoft
"This new agreement is also a strong validation of our business model which is focused on providing high levels of service to reseller and vendor partners of all sizes." - Jeanie Diamond, CEO and Chairman of the Board, SED International...more

RentDirect vendor Profile
Remember the ALMO
“Not many individual stores get the luxury of a vendor coming to visit their location. ALMO makes a commitment to RentDirect members to provide store-level training and support with the help of our manufacturers." ALMO President and COO Warren Chaiken...more

Sony Achieves Number One U.S. Market Share In TV for 2006
Sony beat the next closest competitor by 5 percent in total television dollar market share, while also holding the advantage in overall TV unit sales...more

U.S. Economy Slows; Forecast is for improved 2007
A decline in gasoline prices should add at least a percentage point to consumer spending growth over the next several months. A drop in energy prices from their peaks, and low long-term interest rates that are stimulating another round of consumer refinancing...more

Sports Fans Key To High-Def TV Sales Says Study
Among the top sporting events driving HDTV purchases: the Super Bowl (13 percent), the Daytona 500 (7 percent), the NBA Finals (6 percent) and the college bowl games (5 percent)...more
 

Keep on RTO Truckin’
“I love going to the RentDirect show. They really treat their vendors well and it seems every show we meet more customers.” - Wes Grizzle, Sales Specialist for Adobe Commercial Trucks, formerly Kelly Commercial Trucks...more

West Virginia Rental Dealers Association Meeting Planned For March
Ron DeMoss of the Rent-A-Center legal department (former General Counsel for Rent Way) will attend the event, along with West Virginia state lobbyist John Hodges, and Association of Progressive Rental Organizations (APRO) Executive Director Bill Keese...more

Coalition Formed To Fight Government Attempts to Limit Financial Services To Low and Moderate Income Consumers
"In recent years, access to basic financial services has been increasingly threatened by federal, state and local legislators and regulators. They have supported misguided and punitive measures that are hurting a vibrant sector of the financial services industry." - Bill Murray, Coalition for Financial Choice...more

Perfecting the Art of Flat Design
21C Retail Arts helps rental dealers reframe the merchandising of their electronics in a world that’s flat, after all...more
 

2007 CES Kicks Off In Vegas; Largest Show Floor in CES History; Podcast
The International CES conference program spans hundreds of industry topics, with more than 175 conference sessions and 300 speakers featured at the 2007 show...more

Nine Home Furnishings Associations To Open Offices At Las Vegas Furniture Market
The association’s offices, hosted and outfitted by World Market Center, will allow nine industry organizations to better serve their membership at the semi-annual Las Vegas Markets and on a year-round basis...more

National Black Caucus of State Legislators Claims Credit Scores Used to Deny African-Americans Access to Financial Services
Although banks may be located in areas with high concentrations of low FICO scores, they do not provide proportional access to their services
in these underserved areas, compared to higher FICO score, higher income communities...more

Text of Proposed New York Rental Purchase Legislation; Links to New York Legislators
Complete text of New York Assembly Bill 66, introduced by Audrey I. Pheffer, Michael N. Gianaris, Jeffrion L. Aubry and Felix Ortiz. The bill is cosponsored by Cahill, Glick, Hikind, Mayersohn, Peoples, Towns and Weinstein. The proposed legislation amends New York's personal property law...more

Claim; Boom Times Are Over For Consumer Electronics
"The outlook for 2007 is for a rapid slowdown as exploding demand for flat panel TV comes to an end." - Strategy Analytics...more

Claim; Consumer Electronics Revenue Will Surpass $155 Billion in 2007
Display technologies will continue to be the star category in the industry and account for $26 billion in revenues for 2007...more

Washington Fines Payday Lenders Record $1.2 Million; Companies Face Ban
Though the two companies represented themselves as two separately owned entities, the department uncovered evidence that Advance Til Payday and Zippy Cash have common ownership...more
 

JD Byrider Team Driver Ron Petersen Named KRA Driver of the Year
JD Byrider Kart Racing Team Driver Ron Petersen, of Brownsburg, IN took the 125cc ICC Shifter and Yamaha Pipe season class championships, and was presented the Senior Driver of the Year award...more

Whirlpool Shifting Production From Tennessee To Mexico, Tulsa
The changes will result in the elimination of approximately 370 positions at the Cleveland, Tenn., facility...more

Samsung Unveils Double-sided LCD Display
"We anticipate high demand when we commence mass production in the first half of 2007." - Yun Jin-hyuk, Executive Vice President, Mobile Display Division, Samsung...more

Fed Issues Guidelines Encouraging Banks To Compete For Payday Loan Business
The fed is encouraging banks to offer loans to the "underbanked market" as "one important part of a profitable, long-term, multiple account relationship for these individuals...more

Knowledgeable Sales People Key To Satisfying Wireless Customers, Study Says
Untrained sales staff, long lines and inventory problems are common issues that can make the wireless purchasing experience frustrating for consumers...more

Survey Shows Recliners Gaining In Popularity
People are more likely to own recliners than love seats, china cabinets or sofa beds. In fact, men in the 55+ age group are more likely to own a recliner (80%) than a coffee table (75%)...more

Vegas Furniture Market to Host Rep Appreciation Day
"Rep Appreciation Day is our way of rolling out the red carpet to the rep community, who are really the unsung heroes of market." - Harvey Dondero, CEO, World Market Center...more

Baseline at New, Larger Showroom for Upcoming Tupelo Furniture Market – Jan 10-13
"We're pleased that our retail and rent to own customers have been so successful with our officially licensed Sports Home Lifestyle products." - Brown Councill, RTO Sales, Baseline Licensing Group...more

Seminars, Social Events Enhance Value for Las Vegas Furniture Market Attendees
"We offer something for everyone and take pride in selecting meaningful and interesting seminars with information that attending retailers can truly apply to their business." - Dana Pretner Andrew, Director of Marketing, World Market Center...more
 

Lockwood Opens Premier Rental Purchase in Syracuse Area
Lockwood's RTO career began in Greensboro, North Carolina, where he managed a store for Rent-A-Center. He later moved to Winston, North Carolina and soon became a multi-unit manager...more

Rent to Own Industry Year in Review; Top 100 Stories of 2006
2006 was the year of mergers and politics in the Rent to Own industry. As is our custom, we present to you the top stories of the year, by month. All stories were published by RTOnline.com...more

RTO Online Releases Website Traffic Numbers For Full Year 2006; Over 3.2 Million Sessions Served
RTOonline served over 12,000 unique users every business day of 2006. Unique user sessions increased 64% over 2005...more

HP Recaptures Lead from Dell in Notebook PC Shipments; Rapid Adoption of Wide Notebooks Continues
Of the top six brands, only Acer out-paced the market, growing at 49% Year over Year. Smaller brands have had the most dramatic Year over Year growth, with Asus growing at 68%, Apple at 63% and Sony at 47%...more

Benefit Marketing Solutions Merges With Alliance Health Card Systems
Alliance is a licensed discount medical provider organization (DMPO) delivering access to discount medical programs and products...more

Samsung Appoints Former Sony VP Tim Baxter Executive Vice President of Sales and Marketing for Consumer Electronics
"It is essential for Samsung to have a seasoned veteran heading our multi-billion dollar consumer electronics division." - JS Park, President, Consumer Electronics Division, Samsung Electronics America...more

2006; The Year That Changed All the Retail Rules
This is the year that we realize any key holiday category is available everywhere. Big Screen TV’s can be bought from Circuit City to Wal-mart to even Home Depot (yes Home Depot). …Digital Cameras from Best Buy to 7-eleven...more

Sharp To Double LCD Production
The move will increase capacity to 30,000 panels per month...more

Canadian Companies Plan Increased Hiring In 2007; Bigger salaries, flexible work arrangements among top workplace trends for coming year
"Canadian hiring is expected to grow steadily into 2007. Canada's economy will remain stable in spite of an economic slowdown in the United States." - Remy Piazza, Managing Director, CareerBuilder.ca...more

'Twas The Night Before Christmas...
Twas the night before Christmas, when all through the store, one account was past due, just one BOR...more

Online Holiday Spending Up 26% Over 2005; Procrastinators Fuel Last Minute Rush
Growth in online retail this holiday season has been primarily driven by significant spending increases in both high-ticket and popular gift categories. Jewelry & Watches (up 66 percent), Video Game Consoles (up 54 percent)...more

ColorTyme Franchisees Bring Good Cheer As They Give Back To Hometown Customers
For many families, the holiday season can be a difficult time, so ColorTyme franchisees are helping those less fortunate...more

APRO Hosts Legislative Conference To Address Impending Industry Challenges; All North American Rent to Own Companies Urged to Attend
"It is critically important for rental dealers everywhere to come together to discuss the upcoming federal legislative issues facing this industry." - Bill Keese, Executive Director, APRO...more

Louisiana Loses 5% Of Pre-Katrina Population
"Louisiana lost almost 5 percent of its pre-Hurricane Katrina population during the course of the year. During the previous one-year period, the state's population had grown to 4.5 million" - U.S. Census...more

Association Applauds Trade Bill Authorizing Trade Relations with Vietnam
"Having been to Vietnam recently I believe this is significant for the consumer electronics industry, as well as for all industries seeking a competitive edge with an important World Trade Organization (WTO) partner." - Gary Shapiro, President and CEO, Consumer Electronics Association...more

Bassett To Restate Earnings
The overall effects of these restatements will be to increase its 2005 previously reported earnings and reduce its 2006 previously reported earnings...more

U.S. Economy Steady; Unemployment, Inflation Remain Low
"The slower economy of the second half of 2006 might continue into the first half of 2007. But it may not get any slower." -Ken Goldstein, Labor Economist, Conference Board...more

Quik Payday Settles Class Action For $170,000
The settlement calls for Quik Payday Inc. to pay all of its remaining assets into a settlement fund, which will be used to repay customers a portion of the interest and fees they paid at the time the payday loans were advanced...more

Audiovox Acquires RCA Accessory Business For $50 Million; Deal Includes Rights to RCA Brand for CE Accessories
"This acquisition supports our growth strategy of acquiring companies in businesses that generally operate at higher margins than electronics." - Patrick Lavelle, President and CEO, Audiovox...more