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March 05
Archive
RTO Magazine
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Big Screen Delivery Just Got Easier
United, One Source Solutions is announcing the launch of their innovative new delivery product, the ProSeries® Guard Dog. Designed to meet the needs of RTO delivery professionals, the big screen dolly makes deliveries safer and easier than ever...more

Budget Phone, Inc. Continues National Expansion With Customer Friendly Products
Budget Phone is the largest prepaid home phone service company in the United States, offering customer friendly products such as prepaid home phone service, prepaid long distance calling cards and wireless recharge...more

Convention coverage
54 Vendors Show Goods At TARA Tradeshow (68 photos)

54 Vendors, a record for TARA (Texas Association of Rental Agencies), displayed goods today at the association's 22nd annual tradeshow...more

Rent To Own Legislation Introduced In New Jersey
New Jersey Assemblyman Wilfredo Caraballo (D-29; Essex and Union) has introduced A3851, the New Jersey Rental-Purchase Consumer Protection Act. New Jersey is one of the last remaining states with no state statute regulating rental purchase agreements...more

Convention coverage
Bagpipes Start TARA Golf Tournament
(33 photos)
Ignore the GPS equipped golf carts and it was not difficult to imagine yourself at St. Andrews as the bagpipes played in the misting rain, and players in the annual TARA Golf Tournament filed onto the course (listen)...more

Convention coverage
Ashley Furniture Industries Celebrates 60th Birthday; Sees Rent to Own Industry As Key To Success

"We want [rent to own dealers] to know we support them in what they do" - Bill Meadors, Ashley Vice President Sales, Casegoods Division...more

Convention coverage
TARA Welcomes Convention Attendees With Casino Night (34 photos)

TARA (Texas Association of Rental Agencies) Held a Casino Night to welcome attendees to the groups 22nd annual convention in San Antonio, Texas Saturday...more  

The Coalition for Fair Rental Regulations Invites RTO Dealers To Join Effort; Legislative Conference Set For April
The Coalition for Fair Rental Regulations, representing 4,300+ rental-purchase stores in America, cordially invites you to join with us in continued support of Federal Rental-Purchase Consumer Disclosure legislation...more

Rentcash Announces Listing Date on the Toronto Stock Exchange
"Our listing on the TSX is reflective of Rentcash's rising profile in the investment community" - Gord Reykdal, President and CEO, Rentcash...more

Rent-A-Center Restructures Advertising; Some Functions To Be In-House
"The new structure is an unbundling of services that will allow us to tap best-in-class resources for the various marketing and advertising disciplines" - Ann Davids, VP Marketing and Advertising, Rent-A-Center...more

SED International Adds Home Entertainment Gear From Pioneer to Its Offerings for the Rent to Own Market
"I am confident Pioneer Electronics will become the leading line of consumer electronics within the RTO channel" - Chuck Marsh, senior vice president purchasing, SED International...more

Hoss Power Named North American Distributor For Soundaround
Soundaround is a New York based company that is the master distributor for car and home audio related products that entail such brands as Pyle, Pyle-Pro, Lanzar, Blitz, Legacy and Pyramid...more

Premier Rentals Announces Partnership With American Tire Rental Founder Scott Savell; Company To Begin Licensing Free Standing Wheel and Tire Stores
Premier Rentals and American Tire Rental, have announced their new venture called Premier Wheel Rentals. They soon will help Premier dealers license free-standing Wheel Rental stores with an unprecedented support system...more

Celebrating Women in Rental Purchase; Newsletter Launched To Focus On Issues Facing Women In The Rent to Own Industry
"Historically, women have been a minority in RTO industry, but the actual number of female employees and female vendors remains undocumented" - Mamie Salazar Harper, Owner Fiesta Rentals...more

LFC Discusses "Long Term Financing Instrument" To Assist Growth Of RTO Companies
"A one-store RTO dealer in his third year of business, should utilize Lump Sum Capital Injections of $35k to $75k for inventory purchases with a 24 month payback" - Bill Lassiter, of Lynnray Financial Corporation...more

Texas Rental Dealers Counting Down To Convention
The 22nd annual Texas Association of Rental Agencies (TARA) convention begins Saturday, March 19th, 2005. Association officials have invited RTO dealers from all surrounding states in an attempt to 'regionalize' the show...more

easyhome Board Approves Up To 10% Stock Re-purchase
The Board of Directors of easyhome Ltd. believes that the proposed purchases are in the best interests of easyhome Ltd. and are a desirable use of corporate funds...more

Why It's Difficult for Marketers to Reach Women 25 to 54; Sixty-two Percent Have Little Time for Commercial Messages
A national survey reveals why marketers find it more difficult today to reach women ages 25 to 54 -- a powerful demographic group of 53 million women. The conclusion: They have much more on their minds today than five years ago as more things compete for their attention, leaving little time for commercial messages...more

Survey Says Americans Extremely Optimist About The Future
"These numbers suggest an America that is very hopeful about job prospects and not too worried about their own circumstances" - Britt Beemer, America's Research Group...more

Consumer Rental Purchase Agreement Act of 2005 Introduced In Senate
Senator Mary Landrieu (D-LA), a supporter of consumer focused rent to own legislation, introduced the Consumer Rental Purchase Agreement Act of 2005 (S603). Like S884, introduced by Landrieu in the 108th Congress, S603 would amend the Consumer Credit Protection Act...more

Pannell Family Opens Seventh ColorTyme; First in Alabama
“Being a ColorTyme franchisee allows us to be a better neighbor to our customers,” said Richard Pannell.  “We communicate with fellow franchisees and share ideas to find new solutions and ideas to offer our customers the best service.”...more

Industry Event Coverage
easyhome Conference Wraps

The 2005 easyhome National Conference wrapped Thursday with the company's annual black-tie awards gala where easyhome’s top performers were rewarded and recognized for their outstanding achievements...more

Industry Event Coverage; Photo Gallery
easyhome Conference Kicks Off In Toronto

"This is a great opportunity for our store managers to see our complete 2005 product selection and interact with our vendor partners" - Dave Maries, Vice President, Marketing & Merchandising...more

Nintendo Gives Glimpse Of Next Generation Game Console; Code-Name "Revolution"
Nintendo’s next game console, code-named “Revolution,” is proceeding on schedule and will include both backward compatibility and Wi-Fi features...more


Interview With LG Electronics VP Bob Perry

"Our philosophy is that different retailers have different needs, but we do not create an environment where one type of retail distribution can kill the other" - Bob Perry, Vice President Sales and Channel Marketing for LG Electronics...more

 

Arkansas Judiciary Committee Tables Amendment To Rental Purchase Act; ARDA Meets With Bill Author
The quick action of the ARDA network helped convince Senators of the potential negative impact on consumers...more

JVC Recalls 26,000 Big Screen TVs
The recalled rear projection televisions were manufactured between May 2004 and November 2004 and have the following model and serial numbers...more

Industry Event Coverage; Photo Gallery
TRIB Members Discuss New Technology at Meeting Of The Minds
(56 Photos)
Day one of the The Rental Industry Buying Group's (TRIB) 5th Annual Meeting of the Minds began in earnest Wednesday afternoon when dealers discussed key issues facing independent RTO business owners. Discussions focused on new rental products and how technology can improve productivity and profits...more

Industry event Coverage
TRIB Meeting Of The Minds Reports Record Attendance

Karl Wicker, TRIB's Member Services Coordinator, expects a record 92 attendees from around the country. "I think the word is getting out that this is a unique opportunity for dealers to share detailed operational strategies,"...more

Arkansas Democrat Introduces Industry Killer Amendment To Rental Purchase Act
Arkansas State Senator Sue Madison (D-7) yesterday submitted Senate Bill 1016 (SB1016), an Act to amend the Arkansas Rental Purchase Act. Among other radical changes, the Act limits the total cost of rental purchase agreements to 150% of the Cash Price as defined by the Act...more

Breaking News
Bryce Co. Acquires Continental Jewelry Express

Bryce Co., the fastest growing supplier of jewelry programs to the rental purchase trade, today announced the acquisition of Continental Jewelry Express, the rent to own division of Continental Jewelry, one of the largest specialty retail jewelry suppliers in the United States...more

easyhome Reports Same Store Sales Up 9.9%; Customer Count Up 16%
"We were particularly pleased with the speed at which the average new store achieved profitability in month 5 compared to our model based on historical run rates of 10-12 months" - David Ingram, President and CEO...more

First Bank of Delaware Issues Statement On Effects Of New Payday Loan Guidelines; Developing Alternative Loan Products
"...it is not possible to predict whether the development of such loan products will mitigate the adverse effects of the revised guidelines" - First Bank of Delaware...more

Rentcash Moves To Big Board; Announces Toronto Stock Exchange Listing
"Meeting another major milestone for Rentcash should further help us continue with our aggressive growth and store expansion strategy" - Gord Reykdal, Chairman and CEO...more

Furniture Brands International Sees Weak Q1
"We continue to believe the weakness in consumer confidence is the primary driver of dampened demand in the furniture industry" - W.G. (Mickey) Holliman, Chairman of the Board and CEO...more

Sony Announces New Management Structure
Sir Howard Stringer will assume the position of Chairman, Group CEO and Representative Corporate Executive Officer, Sony Corporation...more

TRIB Group Prepares For Meeting Of The Minds
"This is an open forum meeting for members to share opinions on rent to own issues, discuss what products are hot and which are not" - Dennis Shields, Executive Director of TRIB...more

easyhome Settles Class Action For $7 Million In Coupons
"we remain convinced that we are in the merchandise rental business, and that our agreements do not include charges of any interest whatsoever. Nonetheless, it made good business sense to avoid the expense, time and distraction that this law suit created" - David Ingram, President and CEO of easyhome...more

Iowa Democrat Introduces Bill To Ban Payday Lending Statewide
If passed, HF101 would deny all Iowa consumers the right to choose a deferred deposit loan after July 1, 2005. Loans in force at that time would continue according to the terms of the note...more

Specialty Retailer Grupo Elektra Begins Operations in Panama
“This is the first step for Grupo Elektra to start replicating in other countries our successful business strategy implemented in Mexico, which combines retailing with banking operations" - Javier Sarro, CEO of Grupo Elektra...more

FDIC Issues Revised Payday Lending Guidelines; Threatens Action
"If institutions engaged in payday lending activities fail to operate in a safe and sound manner, the FDIC may take a range of actions which may require institutions to discontinue payday lending" - FDIC...more

Bryce Co. Launches RTOjewelry.com; RTO Jewelry Supply Website Offers Online Fulfillment And Order Tracking
To further enhance dealer value, Bryce Co. will offer all RTO dealers a branded online jewelry website of their very own at no charge. "Rent to Own companies can use the branded website as a real-time sales tool for rental customers," said Collins. In yet another Bryce Co. innovation, RTOjewelry.com lists Manufacturer Recommended Rental Rates for all merchandise...more

10 Questions For Brent Atkinson; easyhome's Marketing Manager
"Our test stores clearly found that customers were primarily concerned with affordability on a week to week basis." - Brent Atkinson, Marketing Manager for easyhome...more

Aaron Rents Acquires New York Franchisee for $7.3 million
The stores were acquired from RNTL Holding, Inc., a franchisee of Aaron's Sales & Lease Ownership since 1996...more

Service Manager Derrick Peterson Awarded RentWay's Highest Honor
"Derrick is a unique and inspiring individual both to the team of technicians he supervises at RentWay and to the community he loves and serves as well" - Bill Short, RentWay's Chief Operating Officer...more

Sealy Reports Record Revenue
"We have achieved strong mix improvements from our new products as well as improved manufacturing efficiencies" - David J. McIlquham, Sealy's Chairman and CEO...more

Jerry Bogo Changes Name to M&B Jewelry; New Plant and Distribution Center Opening In April
"Our name has changed, but our mission remains the same; To Provide Quality Merchandise, Superior Service, and Exceptional value to our customers" - M&B Jewelry, formerly Jerry Bogo...more

Arkansas Rental Dealers Gather To Discuss Recent Events
The Arkansas Rental Dealers Association (ARDA) held its first-ever Winter Gala last Friday at the Capital Hotel in Little Rock, Arkansas...more

 


Rentcash Adds Payment Protection Plan For Consumers
"The Payment Protection Plan is part of our overall strategy to introduce new services to our customers, both for protection and financial convenience" - Gordon J. Reykdal, Rentcash President and CEO...more

Rent-A-Center Kicks Off Big Brothers Big Sisters Fund-Raiser; Donations Accepted in Stores February 28-March 26
I once heard a man tell an audience how his Big Brother made a difference in his life and how the relationship continues after many years. That experience is repeated continually by the bonds created by Big Brothers Big Sisters" - Mark Speese, chairman and CEO of Rent-A-Center...more

Whirlpool Sponsored Reba Tour Kicks Off April 15
I'm thrilled that I'm able to team up again with these two great organizations to spread the word about Habitat and the strong commitment of Whirlpool" - Reba McEntire...more

Arkansas Rental Dealers Ready For  Gala
Tom Hardin, an attorney with the Rose Law Firm, will be speaking regarding usury laws in the state of Arkansas...more

Aaron Rents Reports Same Store Revenues Up 8.0%
"This is the best year in the Company's history, now in its 50th year. We plan to continue to aggressively expand our Aaron's Sales & Lease Ownership business in 2005" - R. Charles Loudermilk, Sr., Chairman and Chief Executive Officer...more

IRS Unveils Simplified Form 941; Employment Tax Return
"The new 941 is much easier on the eye and much more user-friendly" - Scott Mezistrano, Senior Manager, Government Relations, American Payroll Association...more

Aaron Rents Directors Declare Dividend
The Board of Directors of Aaron Rents have declared a quarterly cash dividend of $.013 per share...more

easyhome Webcast Conference Call Scheduled For March 8
easyhome CEO David Ingram will review the company's performance for the quarter ended December 31, 2004...more

Ontario Rent to Own Entrepreneurs Honored
"This is a testament to the hard work and dedication of our staff and the strength and commitment of our industry to the Niagara Peninsula" - Gary and Jeff Clemmensen, owners of Mac Frugal’s Furniture...more

Texas Association Of Rental Agencies Membership Up 30%; Expects Record Attendance At March Tradeshow
"We’ve had explosive membership growth of 30% in the past 12 months" said Lynn Clark, TARA Executive Director. The membership increase is due in large part to the associations atmosphere of inclusion...more

Whirlpool, Maytag Receive EPA Awards
Among the reasons cited in naming Whirlpool Partner of the Year was the company's integration of ENERGY STAR with their work on behalf of Habitat for Humanity International...more

Job Study Reveals New Englanders Least Satisfied in the Workplace; Midwest and South Offer Best Work-Life Balance
58 percent of respondents say they love what they do for a living; Only 43 of men in New Jersey, New York and Pennsylvania indicate the same. 63 percent of men in the South love what they do for a living; 5 percent more than the national average...more

Samsung Names Peter Weedfald Senior VP, Sales and Marketing for the Consumer Electronics Division
Weedfald, who joined the company in 2001, will also continue his current responsibility as Senior Vice President of North America's Strategic Marketing team...more