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  Rent to Own Online March, 2009 News Archive

Rep William Lacy Clay Cosponsors Payday Loan Reform Act
Legislation introduced in the House of Representatives by Rep Luis Gutierrez (IL-4) - H.R.1214, Payday Loan Reform Act of 2009 - would cap payday loan fees at 15$ per $100 loaned, an amount that some industry observers consider a fair compromise, protecting consumers while still allowing the product to be offered at a reasonable level of profit...more

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Solutions With a Capital S
The core benefit of a consumer rental agreement (small weekly payments for a big-ticket item) poses a unique financial challenge for rent-to-own dealers.

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Bringing Good People Innovative Pay-As-You-Go Products
That's what dPi is all about. Since 1996, we've given our customers innovative Pay-As-You-Go prepaid products without the big company hassles.

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Capitalize on Fast Tax Refunds
Everyone knows from preparing their own tax returns that it's not the easiest thing in the world to do. Liquid Tax provides a needed services without pulling RTO dealers away from renting and collecting.

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Lynnray's Bill Knows RTO
Vice President of Lynnray Financial Bill Lassiter knows the rental business. He knows it so well he understands that what you don't have on the showroom floor is every bit as important as what you do have.

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Less Taxing
There probably isn't a rental dealer who hasn't at least considered adding tax prep to his or her slate of in-store offerings.

Economy to Slash 2009 Corporate Giving
A report issued today by The Conference Board shows that nearly half of all companies surveyed will cut their 2009 philanthropy budgets and another 16% are considering it due to the economic downturn...more

Poll Reveals Move Toward Multigenerational Housing
Data released today by AARP shows an increase in multi-generational housing as a result of the economic crisis and the plummeting housing market...more

Las Vegas Furniture Market, "Pundits got it wrong"
Las Vegas Furniture Market officials today cited February market attendance as proof that home-furnishings industry pundits who "forecasted dark days" for 2009 got it wrong...more

Nationwide Marketing Group Honored by EPA
The U.S. Environmental Protection Agency (EPA) has named Nationwide Marketing Group (NMG), parent company of RentDirect, the rent-to-own industry's largest buying group, as a 2009 Excellence in ENERGY STAR Promotion Award winner for the third year in a row...more

PCRental Agent Develops Rental-PC Restore Feature
PCRental Agent announced the addition of a Rental PC Backup and Restore feature designed specifically for rent-to-own dealers. The feature - now part of the standard PCRental Agent software package - can restore used computers to rent-ready condition in thirty minutes...more

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Tried and True Identity Verification
It's a fact of life that not everyone is as honest as we'd like them to be. While some omissions of fact may be innocent enough (such as inadvertently switching digits in a phone number) others are not (falsifying a social security number).

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Nationwide Marketing Group's Preferred Payment Processor
It's easy for customers to overlook a payment in today's fast-paced world. First Data has stepped forward with a solution for RentDirect members.

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The Ideal Software Solution
A point-of-sale software solution is only as good as the employees running it. So doesn't it make sense to choose one that gives your employees the most user-friendly experience?

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RTO Pro; Unprecedented Software Development
Developed from the start using the latest Windows database and programming systems available, RTO Pro management system software has achieved a distinct advantage over other legacy DOS, Unix XENIX or Linux-based RTO software programs.

British Columbia Caps Payday Loan Rates; Dollar Financial Responds
British Columbia today announced new regulations capping total charges for payday loans offered in the province at $23 per $100 loaned including all interest and fees...more

Aaron's to Host Youth Group at Atlanta Motor Speedway
Aaron Rents, Inc. (NYSE:RNT) and Atlanta Motor Speedway (AMS) will host Youth on the Move (YOM) during the American Commercial Lines 200 this weekend...more

Independent Retailers to See Latest Trends at PrimeTime!
Ed Kelly, President of NMG explained, "PrimeTime! is known for being the premier marketplace for independent dealers. NMG has proven that the services and programs we provide at PrimeTime! has helped our members thrive in today's marketplace...more

Job Demand Flat in February; Losses in West and South
Online advertised job vacancies dipped 6,600 to 3,348,000 in February according to The Conference Board Help-Wanted Online Data Series (HWOL) released today. There are 163 jobs posted in the RTO Career Center, the only online job and resume posting service designed exclusively for rent-to-own industry professionals...more
 

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Protecting Your Rent to Own Assets With The Proper Tools
With fuel prices continuing their upward journey, it's even more important to make sure every delivery is made as economically as possible.

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Serta Comes to PrimeTime!
In uncertain economic times, customers focus more than ever on maximizing the value of each purchase.

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Toolbox of Solutions to Build Your RTO Store Brand
"Today's challenging economic climate has made the need for compelling store environments of paramount importance to the RTO dealer," said Ed Kelly, President of Nationwide Marketing Group.

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Dimplex Electric Fireplaces Lead Hot RTO Category
Nothing says "home" quite like a warm hearth. According to the National Association of Home Builders, a fireplace is one of the top three most-desired features for new homebuyers.

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Heating Up Rental Profits
Rental-purchase customers are getting excited about a variety of hot new products offered from ClassicFlame Electric Fireplaces.

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Rolling Skins Game
Utilizing company delivery vehicles as a marketing medium is not necessarily a new concept. After all, that's why companies put their names on vehicles to begin with.

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Your RTO Partner for Promotional and Branded Merchandise
Employee uniforms have begun to expand beyond the prevalent but predictable denim shirt/khaki pant combo and into a wider range of shirt and pant styles.

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Growing With The Rent to Own Industry
Much has changed since InForm first became involved with Rent-To-Own at our first rental trade show in 1980. As InForm has grown, the products and services offered have changed along the way.

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Banner marketing Offers RTO Dealers Free Agency Level Creative
We have serviced the retail sector since 1983 and worked with rental companies since 2001, watching as RTO dealers have found a way to provide a great value to their customer base.

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Gain the "Big Mo" to Boost Sales
Succeeding in business is getting tougher every day. In 2009, RTOs must find more effective ways to reach and motivate customers.

Nationwide Marketing Group Announces Restructuring Plan
NMG also strengthened their electronics division with the appointment of Doug Schatz, a former Division Merchandise Manager for Circuit City, to Vice President of Electronics Merchandising...more

RTO Pro Software Adds Delivery Route Scheduler
"This new scheduling functionality is just another example of how RTO Pro is able to use advanced Windows technology to grow with the increasing operational needs of the RTO Industry," says Ron Ganus, former RTO store owner and President of RTO Pro Software...more

 

Judge Rules in Favor of LG in Whirlpool Patent Case
A U.S. International Trade Commission (ITC) judge yesterday denied the final remaining claim by Whirlpool Corporation concerning refrigerator products from LG Electronics...more

RimTyme Opens First Ohio Store
Fast-growing custom-wheels-and-tires retailer RimTyme has opened its first Ohio store at 310 E. Main Street at Robinwood Avenue in Whitehall, the company has announced.

Anti Rent-to-Own Group Nominated for New York Times Award
The Neighborhood Economic Development Advocacy Project (NEDAP), organizers of several anti-Rent-to-Own industry protests in New York, was named a semifinalist today for the 2009 New York Times Company Nonprofit Excellence Award...more

Rental Association Sees Stimulus as Welcome Relief
Our preliminary analysis suggests a steep decline in rental revenue in 2009 and into 2010, so a robust and well-crafted stimulus package is critical to our sizable industry." - Christine Wehrman, Executive Vice President and CEO, American Rental Association...more

DATATrue Extends New Service to RentDirect
RentDirect Nationwide announced that DATATrue will now be offering Alert1One™, a new Skip-Stolen reporting service to members at an introductory rate...more

Americans File Taxes Earlier; RTO Operators Urged to Plan Early Promotions
The timing and size of tax refunds have a significant impact on the Rent-to-Own industry. Payouts increase substantially, giving operators a welcome cash-flow bump...more

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Soflex; Your One-Stop Leather and Upholstery RTO Resource
Receive your order in one to four days, depending on your trading area and location in the United States. Soflex ships all credit-approved orders the day that they are received.

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A Perfect Fit
As an import distributor of fine home furnishings across all major residential categories, Coaster offers one of the largest selections of continually-warehoused merchandise from seven warehouses strategically located across the country.

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Rental Recliners with Nine Lives
For more than 75 years, Catnapper furniture has been a leader in the motion furniture market. It was Catnapper that introduced the favorite of couch potatoes everywhere - the motion sofa complete with drop down table and molded cup holders.

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The Most Trusted Name in RTO Furniture
At aspenhome we understand what it means to be a true business partner. Our focus and commitment from our inception 30 years ago is to be the best resource for our customers.

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Ashley Furniture's Integrated Supply Chain
Ashley Furniture Industries is hardly your typical furniture company. As the nation's top-selling furniture brand, Ashley continues to dominate the industry and differentiate its offerings by working with customers as a complete business partner.

UK RTO Buy As You View Invests in Environment
Leading UK electrical and furniture rent-to-own/retailer, Buy As You View, has changed the way it operates in a bid to go green and help the environment...more

Registration Deadline for Free Rooms at Legislative Conference Nears
The Nationwide Rental Coalition (NRC), a group supporting balanced regulation of the rent-to-own industry at the state and federal level, announced today that the deadline for the offer of free room nights during the 2009 NRC Legislative Conference in Washington DC is Tuesday, March 10th...more

Rent-to-Own Industry Legislative Action Database Update
RTO Online, Inc. announced major updates to its Rent-to-Own Industry Legislative Action Database. The update includes listings for all newly elected senators and representatives in the 111th Congress...more

 

Special RTO Marketing Funds to be Announced at RentDirect Meeting
RentDirect will make several important announcements during the March 9 Monday Morning Meeting at the upcoming Nationwide PrimeTime! buying show including special merchandising funds available only to Rental-Purchase dealers...more

IRS Issues Updated Withholding Tables
The Internal Revenue Service released new withholding tables that incorporate the new Making Work Pay credit, one of the key tax provisions included in the American Recovery and Reinvestment Act of 2009 that became law earlier this week. Download the new tables here...more

Consumers Continue to Delay Discretionary Spending
"While consumer spending is down across the board, we are still seeing positive growth in several product categories such as digital displays, accessories and video games." - Shawn DuBravac, economist and director of research, CEA...more

KBIII Drives Aaron's Dream Machine to Top 20 in Rookie Start
Ken Butler III (KBIII) lived up to his reputation Saturday with a top-20 finish in his NASCAR Nationwide Series debut - the Stater Bros 200. After starting 24th, Butler finished 20th in the No. 23 Aaron's Lucky Dog Dream Machine...more

Consumer Confidence at All Time Low
The Conference Board Consumer Confidence Index, which had decreased moderately in January, declined again in February, reaching yet another all-time low...more

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Is Your Product Welton-ized?
Welton USA does more than sell merchandise; they provide product solutions tailored to the unique needs of the RTO industry

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Nunn Better
If you're a RentDirect member located anywhere near Texas, Nunn Co. wants to add you to its regional family of dealers

 

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Bringing Choices to the Rent to Own Dealer
By adding netbooks to the lineup, rent to own dealers can offer lower rental rates or shorten terms while increasing customer count

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DSI; Bringing Rent to Own Experience to the Table
Investigate no further, DSI brings rental experience and strong product knowledge to electronics distribution

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ALMO Makes RTO Easy
One of the largest distributors of consumer electronics and major appliances in the country uses 1,000,000+ square feet of warehouse space to make it quick and easy to do business with RentDirect.

Association Urges Congress To Overturn Ban On Same-As-Cash
The Senate Banking, Housing and Urban Affairs Committee, which is holding a hearing today on Modernizing Consumer Protection in the Financial Regulatory System: Strengthening Credit Card Protections...more

Poll; Energy Efficiency Trumps Convenience Among Appliance Buyers
Eco-industry insiders have long touted women as the "greener" gender, yet 71 percent of males aged 35-44 surveyed are more attuned to high efficiency (HE) laundry products as compared to their female counterparts in the same age group (54 percent)...more

Small Business Owners See Little Value in Stimulus
When asked about the American Recovery and Reinvestment Act, 70 percent of small business owners say they are not aware of any provisions in the package that could help their businesses...more

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Quarter Million Reasons to Choose EHP Direct South
There are distributors and then there are fulfillment partners. What's the difference? While both fill similar roles in storing, selling and then getting merchandise to rental stores, a fulfillment partner tends to be more focused in its approach. Just ask E.H.P. Direct South President Gilly Bailey.

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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.

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GE; Cleaner and More Energy Efficient in 2009
GE Appliances will showcase its latest design successes at the Nationwide RentDirect show in New Orleans. Laundry continues to be a strong category with the introduction of the new Hydrowave with Infusor wash system that meets the 2009 ENERGY STAR qualification.

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Whirlpool and RentDirect; Building Blocks 2009
That's why in November 2008, the appliance brand hosted the third annual Whirlpool Building Blocks project in Dallas, Texas where hundreds of volunteers built nine new homes in just five days.

Economy, Government Combine to Hurt Advance America
"Legislative and regulatory challenges that have affected our ability to viably offer the cash advance product in some states, and thus has affected our bottom-line performance." - Ken Compton, CEO, Advance America...more

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Marcone Offers RTO Appliance Parts and Supply
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.

Rent-A-Center Aims to Double-Down on Brand Building Success
In November of last year, Rent-A-Center launched the integrated Credit Free Life campaign aimed at the growing number of consumers being denied traditional retail credit. In January of this year the company was named the 42nd most valuable brand in the United States...more

Premier Releases Video Recap of 2009 Annual Convention
Premier has grown from one division with four stores, to five divisions with seventy-four stores in five years. The video, produced by The Premier Company's, documents Premier's growth by taking a look back at earlier, smaller conventions in Mexico, Miami and San Antonio...more

Stimulus Bill Expands Small Business Expensing Limits
President Barack Obama recently signed the $787 billion economic recovery package. According to the Joint Committee on Taxation, it contains over $290 billion in aid...more

Check Into Cash Expands Product Line With Western Union
"The addition of Western Union's money transfer and money order products are a perfect fit for our expanded product strategy.: - Steve Scoggins, President, Check Into Cash...more

Furnishings Industry Group Calls for 2009 Award Nominees
Retailers, manufacturers, suppliers and other industry professionals are invited to nominate deserving individuals and businesses in the home furnishings industry...more  

easyhome to Webcast Q4 Conference Call
easyhome Ltd. (TSX:EH), Canada's largest rent-to-own company, will hold its quarterly management conference call on Friday, March 6, 2009 at 11 am EST...more

Theft of Leased Property Bill Introduced in Missouri Assembly
Missouri state representative James Viebrock (R-134) has introduced a bill in the Missouri House pertaining to the theft of leased or rented merchandise. HB 741 would make stealing leased property a class A misdemeanor unless the value of the leased property stolen exceeds one thousand dollars in which case it is a class D felony...more

La-Z-Boy Appoints Law Professor to Board
La-Z-Boy today named Pepperdine University law professor Janet E. Kerr to its Board of Directors...more

Kelly's Sales and Leasing Converts to Aaron's
Kelly's Sales and Leasing (Kelly Rentals), one of the largest independent rent-to-own dealers in the Southeast, will convert its 23 stores to Aaron's Sales and Lease Ownership (NYSE:RNT) franchise locations...more

Rent-A-Center Settles West Virginia Lawsuit
Rent-A-Center reportedly agreed to reduce the number of payments needed to obtain ownership for all active rent-to-own agreements in the state as of Sept. 8...more

Ric West Inducted Into Retail Advertising Hall of Fame
The Retail Advertising and Marketing Association announced today that Ric West, Divisional Vice President, Sears Holding Company, will be the newest member of the distinguished Retail Advertising Hall of Fame... more

Unemployment Up Among Latino Immigrants
The current recession is having an especially severe impact on employment prospects for immigrant Hispanics, according to an analysis of the latest Census Bureau data by the Pew Hispanic Center...more

Supplier Instability Key Risk Factor for Companies
With the economy severely shaken, the number of suppliers facing financial peril is on the rise, according to Ernst & Young LLP Transaction Advisory Services (TAS)...more

SED International Reports Q4 Results
SED International, a leading supplier to the rent-to-own channel, today announced its financial results for the fourth quarter of 2008. Net revenues for the quarter totaled $109.1 million...more

Nationwide West Welcomes New Field Service Rep
Nationwide West, associated group of Nationwide Marketing Group, officially announced Tim Wistl as their new Field Service Representative...more

Aaron Raises 2009 Guidance; Q4 Same Store Sales Up 6.2%
Aaron Rents (NYSE:RNT) reported same same store sales increased 6.2% for the fourth quarter of 2008. The company expects Q1 2009 revenues in excess of $445 million. Aaron's reaffirmed plans to increase store count by 5% to 9% during 2009...more

Southwest Rental Dealers Association Formed
Lewallen said that Western states have been underrepresented during legislative conferences held to support passage of the Consumer Rental Purchase Agreement Act...more

 

Tom Bailey Opens North Carolina ColorTyme Franchise
When Tom Bailey decided to open his own rent-to-own franchise store after 21 years on the corporate side of the RTO business, he began a very deliberate search for just the right franchise brand and just the right store location...more

Georgia Seeks to Impose Strict Security for Online Rent-to-Own
The Act goes into great detail when describing internal security requirements for companies offering rent-to-own agreements over the web...more

Groundwork Laid for Consumer Rental Purchase Act of 2009
U.S. Representative William Lacy Clay (D-MO) sent a "Dear Colleague" letter to fellow Representatives this week encouraging members to sign on as original cosponsors of the Act...more

 
Texas Association of Rental Agencies Unveils Website
The Texas Association of Rental Agencies (TARA) launched its re-designed website Tuesday. TARA, the nation's largest state rent-to-own trade association, has always been a leader in state-level association activities. In this latest effort, the association has developed a truly useful tool that will serve as an example for other state associations to follow...more
 
Aaron's Expands Marketing Partnership With Michael Waltrip
Aaron Rents (NYSE:RNT) has increased its sponsorship commitment with Michael Waltrip Racing (MWR) for the 2009 season. Aaron's will be the primary sponsor of the No. 00 NASCAR Sprint Cup Series Toyota Camry driven by third-year driver David Reutimann for the complete 2009 season...more


Majority of Voters Oppose Obama Economic Recovery Plan
90 percent of Republicans and 60 percent of Independents disapprove of Obama's stimulus bill...more

Advance America Exits New Hampshire; Settles Georgia Suit for $2 million
"The recent law that went into effect in New Hampshire imposed a 36% annual percentage rate cap on payday loans, resulting in an effective ban of the industry there." - Ken Compton, CEO, Advance America...more

Employment Trends Decline Sharply
"The Employment Trends Index has recently been declining faster than at any time since the 1974 recession." - Gad Levanon, Senior Economist, The Conference Board...more

RTO Supplier LG Commits to Increased R&D Despite Economy
LG CEO Yong Nam this week confirmed that the company would not reduce, and may even increase, its investment in R&D, marketing, branding and design despite the severe decline in demand driven by economic uncertainty...more

RimTyme Expands Houston Custom Wheel Rent-to-Own Operation
RimTyme has opened two new locations in Houston on Jones Road and Veterans Memorial Drive. The new stores join the RimTyme store on Bissonnet in southwest Houston that opened last year...more
 

Economic Concerns Dominate All Income Groups
It turns out that Americans with household incomes over $100,000, are worried about the same things as everyone else -The economy, Health care, Unemployment and jobs...more

Florida Rental Dealers Help Develop Skip-Stolen Database
Spear-headed by members of the Florida Rental Dealers Association, DATATrue, LLC, a leading provider of customer verification services to the Rent-to-Own (RTO) industry, has released a new skip-stolen database for Rent-to-own dealers...more

US Appliance Shipments Plunge in Q4
"The severity and scope of the global economic downturn has significantly increased over the last several months and had a significant impact on consumer demand in all parts of the world." - Jeff M. Fettig, Chairman and CEO, Whirlpool...more

Stimulus Not Enough; Retailers Call for National Sales Tax Holidays
"While the legislation currently under consideration includes a number of provisions designed to produce long-term economic growth and job creation, we are extremely concerned that it does not do enough to immediately stimulate consumer spending." - National Retail Federation...more

Interview With Dave Edwards, President, SEI Aarons
RTO Online, the rent-to-own industry's leading trade website, interviewed Dave Edwards, president and chief operating officer of SEI/Aarons, at the Southwest Rental Dealers Association Meeting in Las Vegas, Nevada...more

 

 

Interview With Mark McDougal, President, Discover Rental Purchase
RTO Online, the rent-to-own industry's leading trade website, interviewed Mark McDugal, president of Discover Rental Purchase, at the Southwest Rental Dealers Association Meeting in Las Vegas, Nevada...more

 

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