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Association Mulls Ohio Payday Ballot Initiative
The Community Financial Services Association (CFSA) is considering a ballot initiative to fight the recently passed law Ohio law (H.B. 545) that caps interest on payday loans at 28%, effectively banning short term lending in the state...more

Ontario Passes Payday Rate Cap Legislation
The Ontario legislature unanimously passed The Payday Loans Act, 2008 (Bill 48) Monday. The Act requires lenders to include all charges consumers are required to pay in the total cost of borrowing, allows borrowers to cancel payday loan agreements during a cooling-off period...more

Lawmakers Urged to Vote No on Rent-to-Own Amendment
Nick Barrella, Managing Partner of Capital Group LLC, an advocate working with the New York Rental Dealers Association, said, "This proposal is a costly, unnecessary and inappropriate change from current New York law." Barrella sent a letter on behalf of the Association to New York lawmakers urging them to Vote No on A66c...more
 

Dave McNichol Named COO of Epic Ventures
McNichol is a former Regional Director for Rent-A-Center and has 25 years experience in the rent-to-own industry. Scott Brown, CEO of Epic Ventures has known McNichol for 25 years. "In my opinion, Dave is THE best operator in the RTO industry. We're fortunate to have him on our team."..more

Senator Schumer; Color Coded
Rather than re-hashing stories we've written on Mr. Schumer in the past, and in the interest of saving you time, we color coded his statement and provided this handy legend; Green is true. Blue is hyperbole. Red is false...more

RentWay Vet Tony Craig Raising the RTO Customer Satisfaction Bar
Measuring Up produced a report for the U.S. Congress, documenting the fact that rent-to-own has the highest level of customer satisfaction of any industry in America...more

Whirlpool Named to World's Most Ethical Companies List
Whirlpool has been named one of the World's Most Ethical Companies by the Ethisphere Institute and one of the Top 25 Most Respected U.S. Companies...more

Advantage Rent-To-Own Gets Financing From United Guardian
United Guardian Acceptance Group will provide financing of Advantage Rent to Own Broker-Partners and Licensees...more

Showcase Converts to Aarons; Robert Briley Expands Texas Operation
Joe McFarland, owner of Showcase Home Furnishings, will convert his Texas rent-to-own operation to Aaron's. McFarland owns five Showcase locations in Allen, Plainview, Lubbock, Hereford and Killeen, Texas...more

DATATrue Enhances Bank Account Verification
"Many of our customers want to ensure a bank account is still open and active and in good standing before processing a debit payment or check." - Dan Jobrack, Executive V.P., DATATrue...more
 

Blu What?; Only 6% of Consumers Plan Blu-Ray Purchase
Data released by The NPD Group shows only only 6 percent of all consumers surveyed said they plan to purchase a BD device...more

RTO Professional Training Series Topic #8
The Do's and Don'ts of Strategic Planning
Strategic Planning has made a comeback worldwide. Companies, governmental agencies and nonprofits are all adopting it. Although Strategic Planning has been around for years and the basic tools are well known, many leadership teams still stumble in the planning and execution stages...more

Nationwide Responds To APRO TRIB Alliance
In a statement issued today, Nationwide Marketing Group (NMG) described the alliance between the Association of Progressive Rental Organization's (APRO) and TRIB/AVB as "a conflict of interest and irrelevant to the association's stated mission to further the industry's legislative pursuits."...more

06-02-08
RTO Supplier New Age Electronics Adds OmniMount Products
The OmniMount product line provides New Age retail customers with a comprehensive selection of mounting solutions that meet every home theater demand...more

06-02-08
Ohio Governor Signs Payday Loan Ban
Ohio Governor Ted Strickland sent 6,000 voters to the unemployment line today as he signed into law HB 545, a bill lowering the maximum allowable interest rate on payday loans to 28%...more

The Cash Store Named 15th Fastest Growing Canadian Company
The Cash Store Financial, Formerly Rentcash, has been ranked the 15th fastest growing company in Canada by Profit Magazine. The Cash Store has posted 2,930% revenue growth over five years...more

Demand for Employees Falls In All Areas Of The Country
"This lackluster job outlook is clearly a contributing factor in consumer confidence shrinking to its lowest point in nearly two decades." - Gad Levanon, Economist, The Conference Board...more

California, Florida, Michigan Hardest Hit by Plunging Home Prices
California, Florida and Michigan accounted for the steepest losses and contained 45 of the 50 worst performing metropolitan areas for this period...more

Whirlpool Seeking Volunteers For Dallas Habitat Build
Habitat for Humanity and Whirlpool are looking for a few good men and women for the third annual Whirlpool Building Blocks program home-building blitz in Dallas...more

Executives Rethink Merger Strategy as FASB 141 Approaches
Statement 141 (R) will change how companies approach financial planning and reporting around mergers, acquisitions and ownership changes...more

DAC Adds Merchandise Display Quick Ship Program
DAC Merchandising Display Products is excited to announce that on June 16th, 2008, DAC will kick off its new Quick Ship Program. According to Chris Hodges, Sales Representative, DAC's Quick Ship Program will move DAC to a new high level in fulfilling RTO customer's needs...more

Cashway Furniture & Appliance to Close; RTO Location Available
"If I wasn’t sick and was blessed with another ten years, I’d convert Cashway into a mega rental-purchase store." - Joe Welnack, Owner, Cashway Furniture & Appliance...more

Rent-A-Center Furnishes Queens RAC Room
"We thank Rent-A-Center for helping us continue the important work in the community we've been doing for the past fifty years as the largest after-school program in Queens." - Rodney Fuller, Executive Director, Variety Boys & Girls Clubs...more

Editorial
Can Rent to Own Association Remain Independent?
Co-locating the nonprofit APRO convention with one specific buying group is considered divisive by some at a time when most observers feel the industry must remain united...more

New Jersey Rent to Own Bill Scheduled For Hearing
The New Jersey Rental-Purchase Consumer Protection Act (Bill A695), introduced by New Jersey Assemblywoman Grace Spencer (D) in January has been scheduled for a Consumer Affairs Committee hearing June 5, 2008...more

RAM Lightning Strike; Emergency Numbers Available
Doug Ruby, Sales Manager for Rent to Own software maker RAM, said the company's office took a direct hit from a lightning strike in a storm...more
 

D&H Helps RTO Dealers Profit From Add-On Rentals
In an effort to educate RTO dealers and store owners on new profit opportunities, D&H Distributing is asking RTO customers to try boosting their rentals through add-on electronics items and accessories...more

Digital to Analog Conversion Trivia
On Feb. 17, 2009, all full-power TV stations will cease to broadcast analog programming. The following are Census Bureau statistics about television and the television industry...more

Rent-A-Tire Expanding; Searching For People, Acquisitions
Rent-A-Tire, the largest independently owned custom wheel rental company in the United States, is actively searching for acquisition opportunities and experienced employees as they expand between the coasts...more
 

Furniture Brands to Expand Licensing Program to Lane, Broyhill
Expanding our licensing program helps deliver the 'Build our Brand Power' element of Furniture Brands' strategic plan." - Ralph P. Scozzafava, Chairman and CEO, Furniture Brands International...more

VIDEO
Premier's Jim Upchurch Works to Expand Financial Services Division
After a 10-year hiatus in the mortgage industry, Jim Upchurch has returned to The Premier Companies to serve as Director of Sales for Premier U Getcha Cash Services. "I'm glad to be back in RTO and excited about this new twist with U Getcha that promises to be very successful." - Jim Upchurch...more
 

Gallup: Small Business Owner Optimism at Five-Year Low
"Cash flow issues will be a good barometer of whether this rise in economic confidence is a trend, or just another blip in what has been a downward pattern for almost a full year." - Ryan Scully, Director, Discover...more

Canadian Retailers Post Second Highest Growth Rate in Five Years
For the first time since 1991, Saskatchewan ranked first in the annual rate of growth for retail sales...more

Senate Passes Lawsuit Protection Over Credit Card Receipts
The National Retail Federation applauded legislation that would protect retailers from frivolous lawsuits over credit card expiration dates printed on customers' receipts...more

Flat Panel Makers Use Smaller Screen Sizes to Stimulate Demand as Growth Slows
Flat panel TV demand seems likely to be strong overall in 2008 and manufacturers are projected to use smaller screen sizes and low-cost models to stimulate demand...more

House Passes Law Making it Easier to Remodel Retail Stores
Of key interest to retailers is a provision first passed in 2004 that allows retailers who lease their stores to depreciate remodeling and other improvements over 15 years rather than the previous 39 years...more

Panasonic Web-Enabled Plasma HDTV to Ship In June
Panasonic's web-enabled PZ850 series of VIERA Plasma HDTV's will begin shipping in mid-June. The VIERA provides access to popular content sites like YouTube, Google's Picasa Web Album and Bloomberg...more

Rent-A-Center Expands Buffalo Boys and Girls Club RAC Room Program
"Rent-A-Center believes that helping children find safe and educational outlets such as the programs and services provided by Boys and Girls Club is of vital importance." - Evan Manley, regional director, Rent-A-Center, Western New York...more

RTO Funding Extends Rent-to-Own Inventory Financing Terms
RentDirect Nationwide and RTOFunding.com have reached an agreement that will provide the RentDirect members with 12-24 month inventory-financing terms...more

No Excuse to Lose; Premier Dealers Wrap 2008 Conference
The non-recession-recession doesn't seem to be affecting Premier dealers' new store opening plans. Vice President of Operations Mike Lewis told RTO Online, "It certainly has an effect, but you can't use the economy as an excuse to lose."...more
 

Premier to Surpass 100 Store Milestone in 2009; Possible move into Canada
Premier Rental-Purchase remains the largest of the companies with stores in 23 states and openings slated in numerous others as well as a possible venture in Canada...more

New Age Electronics Now Providing Acer to Rent-to-Own Channel
As a result of New Ages recent merger with SYNNEX Corporation, the company is now positioned to supply the rental-purchase channel...more
 

Masters Mentor Summit Hits Home Run in Atlanta
Nationwide Marketing Group members attended the Masters Mentor Summit, a three-day train-the-trainer seminar held at the Nationwide Prime Media! television production and learning facility near Atlanta...more

Premier Companies Conference Kicks Off Tonight in Memphis
"Our role is helping dealers be more successful. Our annual conference is a great opportunity to get feedback and discuss marketing and product initiatives." - Trooper Earle, CEO, Premier Companies...more

GE CEO Confirms Appliance Business On the Block
"GE Appliances has a very strong brand...However, it remains primarily a U.S. business, meaning its fortunes are tied to the rise and fall of a single market." - Jeff Immelt, GE Chairman and CEO...more

Laday Joins Rent-A-Center Board
Rent-A-Center has named management consultant Kerney Laday to its Board of Directors. Laday is President of The Laday Company, a management consulting and business development firm...more

Payday Loans Banned in Ohio; Industry Appeals To Governor
Expressing outrage over today's Senate vote, D. Lynn DeVault, CFSA president, said "There was absolutely no public clamor for this legislation. In fact, tens of thousands of payday lending employees and customers were ignored by legislators, who listened only to the editorial writers and elitist consumer groups."...more

Rent-A-Center Coalition Prepares Supreme Court Challenge
"If the Ohio Legislature chooses not just to regulate fairly, but to eliminate our business and the jobs we provide, we will have no alternative but to ask the courts for justice." - Ron DeMoss, General Counsel, Rent-A-Center...more

Rising Costs Continue to Chip Away At Rebate Checks
Consumers still plan to spend about forty percent of their tax rebate checks, sending $42 billion back into the economy, but what they plan to buy has shifted slightly from February...more

Rent to Own Industry Podcasts
RTO Online has produced 69 audio and video interviews (including 16 live video feeds) with RTO professionals and added 2,500 photos to the Rent to Own industry photo album since January 2008...more

Rising Costs Continue to Chip Away At Rebate Checks
he rising cost of everyday items like milk, bread and rice also means that more consumers plan to spend the checks on groceries, with 21.2 million people using a portion of the check for food, up from 20.4 million people in February...more

Rent-to-Own Career Center Surpasses 4000 Registered Users
Over 600 employers and 3,400 experienced rental purchase professionals use RTO Career center to post and view job openings and resumes...more

BriteLite DJ Equipment Joins RentDirect Nationwide
"We are excited at the potential for growth in the RTO market through our new partnership with RentDirect Nationwide. This will allow us to reach more consumers in the low to mid economic and Latino markets where we are experiencing the most success." - Arash Shamoeil President of Sales for BriteLite Enterprises...more

Rent-to-Own Field Receipts; Little things that improve the bottom line
Rent-to-Own Field Receipts are one of those inexpensive operational tools and are designed to serve as a reminder to delivery staff and eliminate losses...more

Furniture Buying Index Falls in May
The Furniture Buying Index is compiled each month by America's Research Group from interviews with 5,000-8,000 consumers across the country...more

Some TV Markets Transition to DTV Early
The Federal Communications Commission (FCC) announced that the Wilmington, North Carolina, television market will complete its migration to digital television five months before the rest of the nation...more

No Flat Panel Recession; U.S. Consumers Increase Flat-Panel Buying 46%
As U.S. consumers scramble to upgrade to digital televisions, flat-panel sales are skyrocketing despite the economic slowdown...more

Made in the USA Promotional Wearables Popular With RTO Dealers
Most products are manufactured overseas today, or so it seems. For some RTO dealers, sticking to their "made in the good old USA" roots is more important than saving some green...more

Do You Verify Rental Applications or Just Collect Them?
The most common cause of failing to verify a rental application is the time it takes to do it properly. But with today's technology, the verification process is instant...more

Civil Rights Leader Brings Much Needed Reality-Check to Ohio Payday Loan Debate
"There is something morally troubling and inconsistent with the hypothesis that says the activity of a single mom getting a $200.00 dollar payday loan to buy gas to get to work should be banned, while that ability of that same mom to gamble that same $200.00 dollars on Keno or in a new casino should be made readily available." - Niger Innis, National Spokesperson, Congress of Racial Equality, to Ohio Senate Committee...more