Geron Vail Acquires Fred Pearson's Interest In Furniture & Appliances Now
Under Vail’s leadership, Furniture & Appliances Now has undergone a transformation from traditional Rent To Own transactions, into Sales & Leasing....more

Aaron Rents Acquires Six New England Franchised Stores
The current combined revenue volume of the six stores is approximately $415,000 per month and the purchase price was $3.9 million cash, subject to final adjustments...more

Claim; Foam Allocation Could Cause Sofa Shortage
"Believe it or not, it looks like there is going to be a sofa shortage. Who could ever have seen this coming" - Blaine Wieland, president of Home Reserve...more

Aaron Rents To Give 30 Deserving Kids VIP Treatment At This Weekend's IROC
"Each year we are excited about the opportunity to help these kids experience the thrill of NASCAR" - Ken Butler, President, Aaron's Sales and Lease Ownership...more

Rent-A-Center Stops Same Store Sales Slide; Hurricane, Other Charges Hurt Earnings
"Despite the challenges in the quarter, we saw an improvement in our same store sales trend, generated cash flow from operations of more than $87 million and made significant progress on our store consolidation plan" - Mark E. Speese, Rent-A-Center Chairman and Chief Executive Officer...more

Acquisition Twist; Rent Way Acquires 12 Stores From Rent-A-Center For $3.6 Million
"We are pleased to be able to acquire these stores and we expect the transaction to benefit our existing stores almost immediately" - Bill Short, President, Rent-Way...more

RentDirect Nationwide Offers Customized Store Fixtures For Rental Dealers
"With the expansion of the high-tech, flat panel television market, most rental dealers will need to change the way these products are displayed for maximum consumer support" - James MacAlpine, Executive Director, RentDirect...more

Commerce Committee Takes Step Toward End Of Analog; Study - Eight out of ten TVs donated, sold, or recycled in last 12 months
"CEA also applauds the Senate Commerce Committee for passing a bill setting the hard date of the return of analog spectrum at April 7, 2009" - Gary Shapiro, President and CEO, Consumer Electronics Association...more

Hundreds Turn Out to Support New Mexico Payday Lending Industry; Hearings Reveal Strong Support for Consumer-Friendly Reform and Protecting Jobs
"The citizens of New Mexico want regulations that will protect them while giving them the credit to live their own lives. If [Attorney General Patricia Madrid] is serious about helping consumers, she should support legislative reform efforts without trying to entirely eliminate consumer choice" - John Rabenold, spokesperson for the Community Financial Services of America...more

La-Z-Boy Sells 'Englander' Sleep Products
"We were satisfied over the past three years with the growth we achieved, but bedding is not a core strategic focus" - Kurt Darrow, President and Chief Executive Officer of La-Z-Boy...more

Sealy Announces Price Hurricane Induced Price Increases
The industry has seen unprecedented cost increases in polyurethane foam as well as price hikes in fuel and other petroleum-based commodities as a result of this season's hurricane disasters...more

Arkansas Rental Dealers Fall Conference Draws Record Attendance; Association Implements Plans To Increase Tradeshow Value To Vendors
"We're [the vendor's] customer 364 days out of the year. We want them to feel like our customer for that one day." - Joe Burchfield, President, ARDA...more

San Francisco Considers Zoning Ban On Check Cashing, Payday Loan Outlets
San Francisco Treasurer José Cisneros and District 9 Supervisor Tom Ammiano introduced legislation today that would ban new check-cashing and payday lending businesses in the city...more

Rent-Way Reports Slight Same Store Sales Increase; Warns On Q4 - Sees Tough 06'
"Our operations team is moving forward into fiscal 2006 fully cognizant of the fact that we need to focus on top line growth despite the difficult market conditions, caused by record high gas prices, for our customers" - Bill Short, President, Rent-Way...more

Consumer Electronics Hall of Fame Inducts Eleven
"These movers and shakers have developed, promoted and merchandised consumer technologies and products that enable consumers to enjoy entertainment, connect to information and communicate with families and friends" - Gary Shapiro, president and CEO of CEA...more

Five Technologies to Watch In 2006; Recordable HD Content, Domestic Robotics, the Digital Home Studio, Interactive Gaming and Innovative Displays
"These five technologies truly illustrate the progress of technology in the digital age. They stood out in our extensive research process as the most likely to make the biggest splash in the consumer market in the year ahead" - Gary Shapiro, president and CEO of CEA...more

Aaron Rents Files Unfair Business Practices Suit Against Virginia Rent to Own Company
In papers filed Friday in the federal court for the Western District of Virginia, giant Aaron Rents filed suit against Primetime Rentals (ABC Television and Appliance Rental dba Prime Time) for unfair competition and trademark infringement...more

First Cash Reports Double-Digit Growth; Third Quarter EPS Increases 26%
"Our balance sheet is strong, we are debt-free and our new store investments are funded entirely from operating cash flows. In short, we have high expectations for continued growth and confidence in First Cash" - Alan Barron, Chief Executive Officer and Chief Operating Officer...more

SBA Expedites Processing of Business Disaster Loans
SBA disaster loans to businesses of all sizes and non-profit organizations are available up to $1.5 million to repair damage to real estate, machinery, equipment and inventory...more

Stanley Furniture Records Sales In Q3; Warns For Q4
"We believe industry sales growth slowed during the third quarter and is in an uncertain period due to a sharp decline in consumer confidence levels" - Jeffrey R. Scheffer, chairman, president and chief executive officer...more

Family Of Rent-A-Center Co-founder Frank Barton Make $8.5 Million Gift To WSU; Largest Donation In School History
"My father believed strongly in the entrepreneurial spirit. I am extremely proud to have the preeminent business school in Kansas and a leader in entrepreneurial education named after my father.” - Craig Barton, son of Frank Barton, co-founder of Rent-A-Center...more

Success Of Las Vegas Furniture Market Causes Rush For Space; Building 2 Now 90% leased - more than one year before opening
"The overwhelming success of our inaugural Market in July has heightened the demand for additional space. We have already leased 90% of the space in the second building" - Babs Blair, director of leasing...more

Sealy To Ship Flame Resistant Line In November
Sealy announced today that its new line of Stearns & Foster bedding will be protected by Sealy's FlameGuard system. The Company also announced that its new SpringFree latex line of bedding will be launched with FlameGuard as well...more

RTO Accounting; How to book credit card charges - The tidy way
"Imagine having to explain these postings to an auditor; “Well, I’ll be darned. I didn’t realize that my partner Charlie used the company credit card to buy his wife a new dishwasher"...more

New Mexico Attorney General Attempting To Force Rules That Would Eliminate Entire Small Loan Sector In State
The proposed rules say that it is an "unconscionable act" for a lender to make a small loan when a borrower is "facing an emergency need for the small loan"...more

Sealy Reports Strong Results; Foam Shortage Still Concern
"...the recent hurricanes in the Gulf Coast caused extensive damage to petrochemical processing facilities which have resulted in a temporary foam shortage that is affecting North America furniture and mattress manufacturers" - David J. McIlquham, Sealy's Chairman and Chief Executive Officer...more

Levitz Home Furnishings Declares Bankruptcy; Company Says Retail Operations To Continue As Usual
"With the commitment of financing from an experienced retail specialist like Prentice Capital Management in place, we are able to implement a restructuring plan that will provide us a platform for future success." - C. Mark Scott, President and acting Chief Executive Officer of Levitz Home Furnishings, Inc...more

Retailers Consider New Strategies To Overcome 2005 Holiday Season Hurdles
"Continued weakness in the index poses a challenging sales environment for retailers as they move into the all important holiday season" - Carl Steidtmann, chief economist of Deloitte Research...more

Dave Reed Opens Premier Rental-Purchase In Joplin, Mo.
After 20+ years working for some of the biggest RTO names and moving from market manager to regional manager to senior vice president, Dave Reed decided the timing was right to start his own company...more

dPi TeleConnect Launches National Incentive
"This incentive is about showing the profitability of prepaid products. We want to put money directly into the hands of the top performers" - David Dorwart, President and CEO of dPi TeleConnect...more

Florida Representative Tom Feeney Supports Rental Purchase Agreement Act
"Does the bill increase opportunities for individuals or families to decide, without hindrance or coercion from government, how to conduct their own lives and make personal choices? " - U.S. Representative Tom Feeney (R-FL 24th); #4 of "6 Principles to check"...more

Help Wanted: RentDirect Nationwide Seeks Field Representatives
RentDirect Nationwide has experienced explosive growth in the rent-to-own segment since its inception. It is now seeking two field representatives in the western U.S., primarily in the Portland, Oregon and Denver, Colorado areas...more

Department of Labor Launches Re-employment Partnership in Mississippi to Help Hurricane Katrina Evacuees
"This partnership will make even more effective our One-Stop Career Centers which provide localized expertise and can quickly assess and match employers' needs with individuals' skills to make long-lasting employment connections." - Emily Stover DeRocco, Assistant Secretary of Labor for Employment and Training...more

The Financial Data Protection Act of 2005 Introduced; Would Require Tighter Store Level Security
With more and more sensitive information becoming part of the everyday exchange of records among businesses, consumers are increasingly concerned about companies’ data security policies and post-breach procedures...more

Gregory L. Matheny Appointed Executive Vice President and Chief Operating Officer of Rent-Way
Rent Way named Gregory L. Matheny Executive Vice President and Chief Operating Officer. Mr. Matheny had been employed as Rent-Way’s Senior Vice President of Operations since July 2002...more

High Touch Announces Wayne Chambers As New President; Lyle Jones Retiring After 15 Years At Helm
"We felt that Wayne’s deep experience with both the Rent-to-Own and Payday Loan/Financial Services industries provided an outstanding fit for us" - Mark Lenz, High Touch Vice President and Board Chairman...more

Early Registration Encouraged For 2006 Las Vegas Market; Online Reservations Available Now
Exhibitors and attendees can now begin booking hotel rooms for the upcoming Market, being held January 30 - February 3, 2006 using the real-time online reservations system...more

Sealy Warns Of Production Interruptions Due To Hurricane Induced Foam Shortage
"The industry allocation of foam over the next several weeks will affect our just-in-time manufacturing output in the U.S. and Canada" - Statement issued today by Sealy...more

CORRECTION
Rent-A-Center Q3 Conference Call Set For October 25
Company execs will discuss the earnings release that will be issued after the close of the market on Monday, October 24, 2005. Audio of the call will be broadcast live...more

Consumer Behavior Data Reveals Strong Spending by Hispanics
"Shifting demographics in America is impacting the economics of doing business today" - Bob Jordan, president of International Demographics...more

"It's Hard To Say Goodbye"; TARA Executive Director Lynn Clark Retires
Lynn Clark, Executive Director of TARA (Texas Association of Rental Agencies), said goodbye to colleagues during a retirement party held in her honor at the Driskill Hotel in Austin, Texas on September 29th...more

Survey: Despite Obstacles, Consumers Will Still Spend This Holiday Season; Gas Prices Will Impact Spending
Twenty-four percent of consumers surveyed said the price of gas and oil will have a great impact on how much they will spend on gifts during the holiday season...more

Demand Rising but Outlook Cautious for Household Durables Industry, Says Standard & Poor's
"The steady rise in homeownership is also a positive indicator for the sector, since homeowners tend to spend more than renters on durable goods -- especially on furniture." - Amy Glynn, analyst with Standard & Poor's Equity Research Services...more

La-Z-Boy Warns; Soft Retail Environment And Foam Shortage Due To Hurricanes Force Allocation
"Given these disruptive events and the continued softness at the retail level, we will significantly miss our estimates for sales and earnings for the second quarter" - Kurt Darrow, President and CEO of La-Z-Boy...more

Wisconsin Moves One Step Closer To Mainstream Rental Purchase Legislation
SB268 remains Wisconsin's best bet for making the state safe for rent to own businesses while guaranteeing consumers the same protections offered in 47 other states...more

Carolina Panthers And Rent-A-Center Team Up For Boys and Girls Club Remodeling Program
Panthers linebacker Chris Draft (left) and punter Jason Baker will help unveil the newly remodeled “RAC Room” during a 3:00 p.m. ribbon-cutting ceremony on Tuesday, October 4th...more

Survey: Digital Cameras Top Holiday Wish List
When making your selection, keep in mind the following features that respondents call "essential" or "extremely important": 1. Quality of pictures,
2. Picture resolution / apixels, 3. Quality of the lens, 4. Fast auto-focus, 5. Optical zoom...more

Help-Wanted Advertising Index Declines Four Points
The Help-Wanted Advertising Index - measure of job offerings in major newspapers across America - declined four points in August. The Index now stands at 35, down from 39 in July. It was 37 one year ago...more

Finding the Path to Sales Effectiveness
"Selling effectively in today's business environment means building mutually valuable, long-term customer relationships -- the true differentiator in the sales process" - Sharon Daniels, AchieveGlobal CEO...more

Bassett To Shutter Plant; 15% Of Workforce Axed
"We will continue to pursue a blended manufacturing strategy with domestic production focused on customized products and certain core bedroom groups that can be delivered to the consumer quickly, and with the majority of major collections being imports" - Robert H. Spilman Jr., president and chief executive officer...more

Bassett Company Store Gains Outpace Trade Loss
Sales for the third quarter of 2005 were up $5 million in shipments to Bassett Furniture Direct (BFD) stores, which outpaced approximately $4 million of expected attrition with traditional furniture stores...more

Pennsylvania AG Shuts Down Web Based Payday Lender
The business has shut down its web-based operation and will pay a total of $70,000 in fines and costs, plus refund consumers the amount of interest they paid above the maximum six percent permitted under state law...more

Hispanics Responsible for Significant Growth in Consumer Markets
Between 1998-2003, Hispanics were responsible for more than one-third (34.6%) of the growth in expenditures for furniture...more

QC Holdings To Cease Payday Loan Operations in North Carolina; Cites Legislative Environment
"The regulatory and legislative environment continues to be dynamic, with positive changes in one state being offset by aggressive approaches specific to payday lenders in other states" - Don Early, QC's Chairman and Chief Executive Officer...more

Katrina, Gas Prices Push Consumer Confidence Falls To Two Year Low
"Hurricane Katrina, coupled with soaring gasoline prices and a less optimistic job outlook, has pushed consumer confidence to its lowest level in nearly two years (October 2003) and created a degree of uncertainty and concern about the short-term future." - Lynn Franco, Director of The Conference Board Consumer Research Center...more

RentDirect Nationwide Expands Across U.S.
"For more than 30 years, Nationwide Marketing Group has been a strong partner with thousands of independent retailers, and we can apply much of what we have learned to RentDirect Nationwide for the benefit of our members" - Ed Kelly, CEO and Director of Nationwide...more

U.S. SBA Ready to Assist Victims of Hurricane Rita
Loans to businesses of all sizes and non-profit organizations are available up to $1.5 million to repair damage to real estate, machinery, equipment and inventory. Economic Injury Disaster Loans (EIDLs) are also available to small businesses unable to pay bills or meet operating expenses. Congress is considering raising these loan limits...more

SED International Completes Financing Agreement With Wachovia
"This new agreement will provide SED with the flexibility to maximize the Company's opportunities throughout all of its operations" - Jean Diamond, CEO and Chairman of the Board of Directors...more

First Advantage Brings Identity Risk Management Solutions to Subprime Customers
Teletrack's parent company announced a partnership with ID Analytics to resell ID Score®...more

Hurricane Katrina Emergency Contracting Information
A tremendous amount of cleanup and construction work will be required in the areas affected by Hurricane Katrina. Workers from around the country will be housed temporarily in Mississippi, Louisiana, and Alabama. Subcontracting opportunities for RTO companies supplying rental merchandise may be available...more

Premier Rental Purchase Plans Convention In Cancun, Mexico
"The Premier group gathers every year to review our business objectives, product lines, advertising promotions and growth strategies" - Trooper Earle, President of Premier Rental Purchase...more

ACE Cash Express Assesses Impact of Hurricane Katrina
ACE has been able to contact all employees and has offered alternative employment to these employees at other ACE locations...more

La-Z-Boy to Close Canadian Upholstery Facility; Shift Production To US
The plant, which employs 413 people, represents approximately five percent of the La-Z-Boy branded business total upholstery manufacturing capacity...more

Furniture Market Establishes Hurricane Relief Fund; World Market Center To Match $250,000 In Contributions
"We have seen the impact Hurricane Katrina has had on the furniture industry and believe we have a responsibility and opportunity to lead an effort to help the victims of this unprecedented devastation" - Shawn Samson, managing partner of World Market Center...more