By: Raouf Bishay
RTO and Technology implementation
As you all know, within the last decade, the implementation of technology has affected every aspect of our daily life. Today we even use computers in elementary education; it is hard to find any business that does not use some form of automation in its daily operation ...more

Former Thorn Americas VP Bob Bloom Named President Of ColorTyme
Former Thorn Americas VP Robert F. Bloom has been named President of ColorTyme by Rent a Center, ColorTyme's parent company. Bloom replaces Steve Arendt who resigned...more

"Even Congressmen Use Rent to Own"; Senator Mary Landrieu Opening Statement Audio
4 minute audio clip of Senator Mary Landrieu (D-LA). Favorite Quote: " Yes Mr. Chairman, even members of congress who have moved to Washington have used rent to own."...more

Senate To Hear Testimony On Rental Purchase Agreement Act Today
The Senate Banking Housing and Urban Affairs committee will hear testimony at 10:00 AM EST this morning on the Consumer Rental Purchase Agreement Act. Watch the hearing Live...more

HP To Ship Personal Media Drive With Media PCs
HP announced the HP Personal Media Drive - and a new series of Media Center PCs that allow consumers to slide up to 160 gigabytes of additional storage into a Media Center PC - without having to open its case...more

Former RTO Company Goes Public With Payday Loans
According to papers filed with the SEC recently, QC Holdings, a Kansas based company founded by Don Early as a rent to own company in the 1980's, is preparing to go public...more

"This isn't over yet"; U.S. Retailers to Continue to Fight Against Duties on Chinese Wooden Bedroom Furniture
The Furniture Retailers of America (FRA) today said that it would continue to fight against dumping duties on Chinese wooden bedroom furniture imports and called any duty on these imports a "needless tax on American consumers."...more

US Government Finding: "China is illegally dumping wooden bedroom furniture"; Recommending Tariffs Up To 198%
The department determined that producers/exporters have sold wooden bedroom furniture from China in the U.S. market at less than fair value, with margins ranging from 4.90 percent to 198.08 percent...more

Rent King Opens 15th Location
Rent King's franchise partner, Double Diamond, is also opening its 2nd location this summer in North Florida...more

Aaron Rents Names Kevin J. Hrvatin Vice President, Western Operations, Sales & Lease Ownership Division
The Western Operations is a newly created region, the result of the Company's rapid expansion. Mr. Hrvatin will be responsible for overseeing the operations of 53 stores located in Southern California, Arizona, Nevada, New Mexico, El Paso, Texas, Colorado and Kansas...more

Sharp Announces Price Reductions In LCD Line
The price reductions on AQUOS include most of the enhanced definition, 4:3 models and the larger, widescreen HDTV-ready displays...more

Rent-A-Center Announces Plans to Refinance Debt
"We believe the current credit market environment, coupled with our enhanced credit standing evidenced by our recent credit upgrade by Standard & Poor's, provides us with an opportunity to lower our cost of capital... more
Robert D. Davis, CFO

RTO Online Launches Rent to Own Industry's First Blog
"There are over 50,000 people involved in the rent to own industry worldwide" said Roy Griffaw, president of RTO Online Inc. "RTO Online has always accepted articles from contributors. With the launch of RTO Blog, anyone can publish relevant information 24/7 from any computer using a standard web browser...more

New Overtime Rules Take Effect August 23; DOL Officials Travel to Provide Compliance Assistance
The Department’s new FairPay rules were published in the Federal Register and take effect August 23, 2004. A text version is available online...more

HP Wins Award for Best Online Support
The award recognizes HP's commitment to excellence in online customer support and services...more

Whirlpool Appoints PepsiCo CEO To Board
As head of PepsiCo International, White, 52 years old, oversees all of PepsiCo's beverage, snack and food operations outside the U.S. and Canada...more

RTO Online Launches Rent to Own Vendor Spotlight
Beginning June 28th and leading up to the APRO Buy Fair August 4-7, RTO Online will be hosting a new RTO “Vendor SPOTLIGHT” program...more

Olympic Gold Medalist Salutes Panasonic's Olympic Sponsorship
Olympic gold medal-winning gymnast Kerri Strug, best remembered for her heroic performance at the 1996 Olympic Games in Atlanta, joined Panasonic’s Ed Wolff, (Right) Vice President...more

Virginia Senator Allen Endorses Rental Purchase Agreement Act; Hearing Scheduled For 22nd
the Senate Banking Committee will hear testimony on the Rental Purchase Agreement Act Tuesday, June 22. Sen Mary Landrieu (D-LA) will urge the committee to attach (include the language of) the Act in the Regulatory Relief bill recently passed in the House and pending in the Senate...more

Rent A Center Customers And Employees Raise $244,415 For Big Brothers Big Sisters of America
"Our co-workers really got behind this campaign for Big Brothers Big Sisters because they know it has such a positive impact on children...The bottom line is that this organization helps strengthen families, and everybody benefits"...more
Mark Speese, CEO Rent a Center

Maytag Workers Strike, Appliance Production Halted At Iowa Plant
Maytag has developed a contingency plan to fulfill customer orders, and production continues at the company's laundry plants in Searcy, Ark., Florence, S.C., and Herrin, Ill....more

HP's Alan Kay, PC Pioneer, Wins Kyoto Prize
Alan Kay, HP Senior Fellow and one of the pioneers of personal computing, today was named winner of the 2004 Kyoto Prize in advanced technology, his third major scientific award this year...more

Survey: 40 Percent of Men Say They Prefer Electronics For Father's Day
National survey shows the evolution of the Father's Day gift, from Old Spice and leisure suits to DVDs and plasma TVs...more

Laptop Demand High But Desktop PC Shipments Up 13.5%
"Portable PCs continue to grow much faster than desktops, but recent results demonstrate the continuing competitiveness of desktop systems...more
Loren Loverde, director of IDC's Worldwide Quarterly PC Tracker

Association Urges Lawmakers To Insure Consumer Friendly Transition To Digital TV
"First and foremost, we must continue to preserve consumers’ home recording rights as the nation goes digital...more
CEA President and CEO Gary Shapiro

Bestway Rent to Own Reports 2.1% Same Store Sales Increase; Higher Expenses Hurt Earnings
"Although I am not happy with a 2.1% same store revenue growth for the quarter, we did have a 4.0% growth in rental and fee revenue for the same period...more
David A. Kraemer, President and Chief Executive Officer

Carrico's Rent One Tops Virtual Customer Service
On Saturday, June 5th, between noon and 2:00 pm CST, RTO Online staff, posing as shoppers, used the "Contact Us" pages of 27 rent to own company websites to request information on renting big screen TV's...more

National Furniture Retailer To Open 100 Rent to Own Stores; Help Wanted
A $400 million privately held national home furnishings retailer is planning entry into the Rent to own market and is searching for qualified individuals to lead the effort...more

Aaron Rents Acquires Easy Way; Strong to Retire
In the latest string of acquisitions, Aaron Rents has acquired all 21 Louisiana based Easy Way Rent to Own stores from RTO Veteran James (Jimmy) Strong...more

Chromcraft Revington Listed By American Stock Exchange
The American Stock Exchange (Amex) today listed the common stock of Chromcraft Revington, Inc. under the ticker symbol (CRC)...more

HP Earns Highest Rating in Customer Satisfaction Survey
HP's overall rating was a full eight and seven points higher than Dell and IBM, respectively, and eight and 11 points higher in the contribution to profitability category...more

53% Of Americans Intend To Reduce Spending Due To High Gas Prices
Soaring energy prices are affecting lower-income Americans the most, with 69% of those earning $25,000 a year or less saying they are being forced to cut back on other spending...more

Maytag Warns; Announces Major Restructuring; Eliminating 20% Of Divisions Salaried Workforce
Integration of Hoover and Maytag Appliances into the new organization will eliminate about 20 percent of the salaried workforce...more

Wells Fargo Expands National Awards Program to Honor Women Business Owners
Fueled by the continuous growth of women-owned businesses, Wells Fargo today announced the expansion of its Women's Business Services' national awards program...more

Briana Mackey Named Director Of Operations Of World Market Center Las Vegas
In her new role for World Market Center, Mackey will be responsible for planning and implementing all infrastructure and services related to the semi-annual home furnishings markets...more

Furniture Brands International Warns; Outlook Gloomy
"While we had hoped the improved business conditions earlier in the year would be sustainable, it now appears that a definite slowdown in consumer furniture buying is occurring...more
W.G. (Mickey) Holliman, Chairman and Chief Executive Officer

Cato Institute Report Slams China Wooden Bedroom Furniture Case
"[The Anti Dumping Petition] is a brazen and hypocritical attempt by some domestic furniture companies to use the U.S. government to manipulate the bedroom furniture market in their favor...more

Workplace Harassment Is Not Just About Sex Anymore
The largest number of EEOC complaints (35.1 percent) came from allegations of race discrimination. This was followed by claims of retaliation for filing a charge or cooperating with an investigation (27.9 percent)...more

Association Recommends FCC Modifications To Speed Digital TV Transition
"While many DTV stations claim to be replicating their analog broadcast service area," Shapiro stated, "according to FCC data, only 477 of the 1,362 commercial broadcast stations are actually delivering a full power DTV signal...more

Are Women Opting Out of Corporate Careers? CareerWomen.com Offers Tips for Preparing to Opt Back In
"While we are seeing an increase in women opting out of corporate positions, increasingly we're receiving good news from corporations on additional women and diversity programs...more

Interview With John Spangle; TRIB President
RTO Online interviewed Spangle regarding his election, TRIB's plans for the future, and the affect of consolidation on groups of independent dealers...more

APRO Sets Buying Focus For Upcoming Convention
APRO President Lyn Leach hosted a vendor conference call today to outline the groups efforts at increasing attendance and buying during the upcoming tradeshow in August...more

Premier Rents Annual Dealer Retreat Scheduled
Once a year, the Premier group gathers for a national retreat to review business objectives, product line, advertising promotions and strategies. This year's retreat will be at Pine Island, NC...more

Chelsea Businessman Charged with Arson of Rival Business; Slaton's Furniture Jewelry and Appliances
According to an affidavit filed in support of the Complaint, it is alleged that LECCESE, owner of TL's Discount, enlisted Chelsea resident Shawn Sandler to set a fire on June 19...more

Sharp Adds Two High Speed 17-Inch Desktop LCD Displays
The LL-172G is available in white or black and is available immediately, the LL-172G has an estimated street price of $499...more

Poll Shows Majority of Small Businesses to Expand Inventory and Profits This Year, But Won't Add New Jobs
"After the past few years of tough economic results, it is significant that so many small business owners expect to make gains this year...more
Marc Joseph, chief operating officer for DollarDays

Ideal Software User Conference Exceeds Expectations
IDEAL Software Systems, makers of The Ideal Rental Manager (TIRM), a leading point of sale software package for rent to own stores, held it's annual users conference recently at the company's headquarters in Meridian Mississippi...more

Canadian Furniture Maker Dorel Positioned for Solid 2004
While it took Dorel Industries 41 years to reach the US$1billion mark in revenues, the global consumer products company already has the second billion in sight...more

Veteran Retailer Joins Hooker Furniture Board of Directors; J. Clyde Hooker Leaves Board of Directors
Before his retirement in early 2003, Schreiber had been president and chief operating officer of Houston-based Star Furniture since 1995...more

Reader Question; Dealer Needs Advice On Collection Rules
I have recently opened a Rent to own department (computers, TVs & appliances) within my Radio Shack dealer store...more

MSU Students Develop Talking Whirlpool Appliances To Aid Blind
Whirlpool officials donated a $1,199 Whirlpool Duet last semester to the Michigan State University electrical and computer engineering design class. The class reconfigured the machine, giving it the ability to announce its cycles and settings...more

The Difference between Simple and Compound Interest
If you are an owner/manager of Rent to own company, there is a good chance that you are going to be dealing with "loans" at some point in time. You will most likely be borrowing money from a bank, investor, or yourself...more

La-Z-Boy Reports Q4 and Full Year Results
"The values of our casegoods businesses have been negatively impacted by the onslaught of import competition primarily from China and the severe downturn in the hospitality industry since September 11, 2001...more
Kurt L. Darrow, La-Z-Boy President and CEO

Standard & Poor's Raises Rent-A-Center Rating
Rent-A-Center's market share is 39% based on store count, compared with 11% for Aaron Rents Inc. and 9% for Rent-Way Inc...more
S&P

05-25-04
Study; Companies Growing By Acquisition Generate 29 Percent Higher Returns Over Ten Years
"What's striking about the best acquirers is the lengths they go to develop their acquisitive strategy and analyze potential acquisition candidates. This allows them to move swiftly, value accurately, and bid intelligently when the time is right...more

ViewSonic Adds 13-Inch LCD TV With Included Swivel Base
"LCD TVs are quickly becoming the most popular choice in the digital television market...more
Gene Ornstead, director, Advanced TV Products, ViewSonic

Changing How Companies View Addiction, Treatment and Recovery
12 Steps Every Company can Take to Deal with Addicted Employees...more

Rent a Center Funds Code Amber Child Safety Videos
"I'm extremely proud these corporations recognize the capability Code Amber has to reach law enforcement agencies in every state...more
Bryant Harper, President and Founder of Code Amber