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  September 06
Archive
It's On; Advance America To Stop Providing Payday Loans to Military Personnel
"We apologize for any hardship the elimination of this may cause the men and women who are dedicated to the service of our country. We also hope the elimination of this option does not push individuals into more expensive and/or unregulated forms of credit." - Ken Compton, CEO, Advance America...more
No Rumble May Hurt PS3 Launch; Consumer Expectations Of PS3, Xbox 360, And Wii Portend Potential Market Share Shift For Sony, Microsoft, And Nintendo
A majority of consumers don't currently realize Sony's PS3 controllers won't allow for backwards compatibility of the rumble feature. In light of the price for PS3, this appears to be a potentially hidden but pervasive risk factor attached to their release strategy...more
Companies Missing the Mark on Communicating to Employees; 67% Are Dissatisfied With Communications
"Companies are missing a critically important audience when they don't invest resources and creativity in communicating to their employees, who have the potential to be hugely influential ambassadors for their business." - Josh McCall, CEO, Jack Morton Worldwide...more
Larry Sutton Receives APRO's Lifetime Achievement Award
"He has been a mentor to many in the RTO industry, a dynamic speaker for many causes and seminars and a great example of the spirit of the American entrepreneur." - Shannon Strunk, President, Association of Progressive Rental Organizations...more
Schumer, Graham Tariff Could Add 30% to Flat Panel TVs; Misguided Bill Seeks To Impose 27.5 Percent Tariff On Imports From China
Today's average price of a flat panel television is $1,295 but would increase to $1,651 with the proposed tariff; an MP3 player's average price today is $218 but would increase to $277...more
MORE VIDEO +
Podcast: Video Broadcast THREE From APRO Show Floor
RTO Online Presents
Video Podcasts

RTO Online broadcast three new video interviews Friday: Guests were Tim Hogan, Vice president of Operations for ColorTyme, Sandi Whited, Premier Rental Purchase Franchisee and Sandra Meyers, Director of Sales, Western Region for DP Bureau...more

ColorTyme Racing's Johnny Chastain Wins Second Track Championship
For Johnny and the team, who won the Sugar Creek championship last year, it makes the second track championship in 2006...more

 

Pennsylvania Association of Rental Dealers Begins Membership Drive
Pennsylvania's neighbors, New York and New Jersey, both have suffered from the lack of an organized association of rental dealers...more

Falling Gas Prices Balance Lagging Growth
"The decline in gasoline prices, as much as 50 cents lower than earlier this summer, frees up some spending power for consumers." - Ken Goldstein, Labor Economist...more

VIDEO +
Podcast: Video Broadcast TWO From APRO Show Floor
Video Podcasts
RTO Online broadcast three video interviews Thursday from the APRO show in Orlando, Florida: Guests were Brad Setzer, National Operations Manager for Discover Rims, Rochelle Mingus, National Account Executive for Mitsubishi and Bill Ackerman, Vice President of Franchise Operations for J.D. Byrider...more

 

Bryce Co. Hires Long-Time RTO Veteran; Addition to Sales Team Comes as Company Expands Offerings to Rental Industry
"I have known Bryan Collins for years, and I have successfully implemented the Bryce Co. jewelry program in many of my stores. To me, renting jewelry became as much of a staple as renting televisions." - Cary McPherson, Bryce Company...more
Simmons Buys Back Simmons; Simmons US Acquires Simmons Canada For $130 Million
Simmons US sold its Canadian manufacturing rights in 1990 as part of a Canadian management led buyout and currently does not own any units of SCI or any equity interest in Simmons Canada...more
VIDEO +
Convention Coverage

Podcast: Interview With Gary Romine; Welcome Reception Photo Gallery

Excerpt: "We've had an excellent year. August was the first soft month. We assumed correctly as it turns out, that a lot of our competitors would not stay aggressive through the summer months. We stayed aggressive and we gained accounts because of it."...more
Pat Hunt Opens Sixth ColorTyme; Credits Good Samaritan For His Success
"We’re successful because we don’t just provide LCD and plasma TVs, we build long-term relationships." - Pat Hunt, ColorTyme Franchisee...more
ColorTyme Franchisees Grow in Record Numbers; Company credits franchisee innovation and company financing
"In 2004, ColorTyme launched a program offering partnerships to multi-store managers with investors. For an investment of $20,000, multi-unit operators can own 51 percent of their own ColorTyme store." -Pat Sumner, Director of Franchise Development and Financing, ColorTyme...more
Convention Coverage
VIDEO +

Convention Coverage
APRO Golf Tournament Photo Gallery
65 pics and a short video of Wednesday's APRO Golf tournament...more
APRO Show Kicks Off This Morning With Golf Tournament
The 26th annual Association of Progressive Rental Organizations (APRO) Convention and buying show kicks off Tuesday morning with a golf tournament at the Falcon's Fire Golf Club in Kissimmee, Florida, near Orlando...more
Berkline/BenchCraft Shift Production To Mississippi
"The high skill level, strong work ethic, and loyalty of the workforce in Mississippi are important factors in the company wanting to remain a major employer in the area." - Bill Wittenberg, President and CEO, Berkline/BenchCraft...more
RTO Pictures Announces Distributorship Agreement With Baseline Marketing
RTO Pictures will be exhibiting in the Baseline Booth at APRO's Convention and buying show this week in Orlando, Florida...more
Whirlpool unveils First Post Merger Maytag Front Loader
"With the new Maytag Epic line, we are building a product that lives up to the Whirlpool manufacturing standard and the Maytag brand." - Bill Thomas, senior category manager, Maytag Laundry...more

Notebooks, LCDs Lead CE Sales Increase; Desktop Revenue Drops 17%, Notebook Revenue Up 50%
"Retailers can maximize their ROI by running strong online advertising campaigns in the few weeks before the school year begins. July is too early to reach most families, whose kids start the school year right before or right after Labor Day." - Heather Dougherty, senior retail analyst, Nielsen//NetRatings...more

Who Buys Video Games?; New Survey Surprises
Heavy Gamers' demographic/gender parameters also expand beyond 18- to 34-year-old males: 21 percent of this segment is female...more
The Rowe Companies Files Chapter 11 ; Company to sell retail arm
"We expect that the restructuring steps we are taking, while difficult, will ensure the future of our enterprise and our people" - Gerald Birnbach, President and CEO of Rowe...more

easyhome Completes Second Annual Backpack Challenge; Raises $52,000 And Delivers 2,000 Backpacks, School Supplies To Needy Kids
"This was a team effort. Together, we will get 2,000 children prepared for a successful educational year." - David Ingram, President and CEO, easyhome...more

MEGA Rental Group To Announce Buying Programs At Upcoming Show; C&L Supply offers RTO Program
"C&L Supply truly offers our members a single source solution to warehousing and logistics. They’re able to deliver appliances, furniture, electronics and bedding all on one truck for free with a 4 piece min." - Chris Nickas, Rental Manager, MEGA Group...more

09-18-06
Hispanic Heritage Month September 15 - October 15; Hispanic American Factoids
The estimated Hispanic population of the United States as of July 1, 2005 was 42.7 million, making people of Hispanic origin the nation’s largest ethnic or race minority. Hispanics constitute 14 percent of the nation’s total population. About 1 of every two people added to the nation’s population between July 1, 2004, and July 1, 2005, were Hispanic...more

Cash America Completes Acquisition of CashNetUSA For $35 Million
"There are many customers who seek the convenience and efficiency of an electronic solution to their borrowing needs." - Daniel R. Feehan, President and CEO, Cash America International...more
RTO Excellence Profile; Lynn and Jan Reed of Suburban Service Center
"I guess I would say I’m a retailer. But if you ask my background, it’s service. But I think in a few years, the way my rental business is growing, ask me again and I’ll call myself an RTO dealer." - Lynn Reed, President, Suburban Service Center...more
September Issue Of RTO Magazine Focuses On Customer Service
Included in this issue is a special "Customer Service Section". Our cover story by noted author Elly Valas, reminds us that, what we see as superior service, is often viewed by customers as simply meeting expectations...more
Yahoo! and Acer Form Partnership to Deliver Yahoo! Products and Services
Acer is distributed to the RTO channel by SED International...more

Falling Gas Prices Push Consumer Confidence To Seven Month High
"The rise likely reflects declines in both gasoline prices and mortgage rates. Overall, the report suggests that the U.S. consumer remains buoyant, with a cautious stance about the future." - T.J. Marta, Economic Strategist, RBC Capital Markets...more

VIDEO
Nintendo's Wii Console Ships November 19; MSRP $249
Nintendo announced the launch of its Wii™ (pronounced "we") video game console. Wii will ship to North America Nov. 19 at an MSRP of just $249.99. The price includes one wireless Wii Remote controller, one Nunchuk controller and five Wii Sports games on one disc...more
Microsoft Takes Aim At iPod; Unveils Zune Media Player With Built-in Wireless
The Zune device features wireless technology, a built-in FM tuner and a, 3-inch screen that allows users to see pictures and video. Zune comes in three colors: black, brown and white...more
Sony Electronics Now Shipping to Rent-To-Own Dealers
"We have 600,000 feet of warehouse space stocked with Sony Electronics and Welton Furniture inventory that’s ready to ship." - Steve Sherman, President of Welton USA...more
Testimony "Defense Department Predatory Lending Report Seriously Flawed"
"There are serious flaws in the Defense Department’s recent Report on Predatory Lending Practices Directed at Members of the Armed Forces and Their Dependents (the “DoD Report”). Those flaws involve fundamental matters of both methodology and policy." - Hilary B. Miller, President, Payday Loan Bar Association...more
Economist Challenges DoD Study on Payday Loans; Banking Committee Testimony
"Given the relative low overall default rate for such loans in general, the claims of some opponents to payday lending that payday loans are a threat to military readiness appear unsupported." - Dr. William Brown, Jr., an Associate Professor in the Department of Accounting and Finance at the University of North Carolina at Greensboro...more
Baseline To Introduce Big Daddy Sports Recliner Line At APRO
Baseline Licensing Group introduces the "Big Daddy" recliner series in its first wave of NFL teams including the Bengals, Browns, Cowboys, Falcons, Jets, Packers, Patriots, Raiders, Ravens, Redskins, Steelers and Vikings with more teams coming soon...more
M&B Jewelry Releases New Fall Promotional Flyer
M & B can customize the flyer with dealer specific rental or retail rates along with the dealer’s logo, store locations, etc...more
Rent-A-Center, Rent-Way Announce Expiration of Hart-Scott-Rodino Waiting Period
The proposed merger, which the parties anticipate will be completed in the fourth quarter of 2006, remains subject to approval by the shareholders of Rent-Way...more

Hitachi Premiers High Definition 42-Inch Plasma
"Hitach holds more than 1,300 related patents and own a majority share in one of the world's largest plasma facilities." - Daniel Lee, VP Marketing, Hitachi America...more

LED Based Slim DLP HDTV Debuted At CEDIA Expo
"DLP technology is inside 1 out of every 5 big-screen sets sold in the US." - Adam Kunzman, Business Manager, DLP HDTV Products, Texas Instruments...more
Stanley Furniture Warns; Sees No Improvement In Soft Retail For Remainder Of 2006
"We have not seen any significant change in order trends since Labor Day and we are projecting these business conditions to persist for the remainder of 2006." - Jeffrey R. Scheffer, Chairman, President and CEO, Stanley Furniture...more
Former Rent-A-Center President Bud Gates To Speak At WSU Entrepreneurship Forum
The Entrepreneurship Forum Series is sponsored by Wichita State’s Center for Entrepreneurship and will cover subjects related to entrepreneurship, with a new topic each semester...more
Bestway Rent to Own Annual Meeting In Memphis, Tennessee; Podcast Interview With CEO David Kraemer
"Most of the really good ideas come from the field. My job is to bring them back and spread them around...Realistically, we can grow Bestway to 300 locations in the next ten years." - David A. Kraemer, President and CEO, Bestway Rent to Own...more

Missouri Governor Blunt Bans Employer Payday Loan Programs In Nursing Homes
Nursing home operators will no longer be allowed to operate on-site payday loan operations that lend money to the nursing homes’ employees...more

Shipments of Mobile Devices Hit New Record High Q2
"Quarterly shipments are reaching the 20 million unit mark in a single quarter. As recently as two years ago, it would have taken an entire year to ship that kind of volume." - Ramon Llamas, research analyst, IDC...more
Know when to call a 3rd party agency
Every business experiences loss...more

TV, Large Furniture Tip-Over Deaths Double; 10 So Far This Year
"There are usually five deaths reported to CPSC each year caused by televisions tipping over onto young children, but we are aware of 10 deaths already in 2006." - Nancy Nord, Acting Chairman, CPSC...more

Rent One Opens First Wheel Rental Store In St. Louis; Podcast With Larry Carrico
"People have different fashion needs. Your car are an outward expression of who you are." - Larry Carrico, Owner of Rent One...more

Association Says Federal Government Delay in Upholstered Furniture Flammability Standard Costing Lives
"Uncertainty has allowed trial lawyers to go after manufacturers and anyone associated with them, from suppliers to retailers. This is typical of the federal government's inability to exert leadership and make a decision." - Tom Schatz, President, CAGW...more

RSSS To Introduce Online Rental Payments APRO Convention
"There is a significant security breach when businesses accept credit card payments by phone. We wanted to address what is a growing concern with our clients and also be proactive in setting the stage for a new generation of rent-to-own customers." - Ellison Crider, RSSS General Manager...more
CPSC Sees Increase In TV, Large Furniture Tip-Over Deaths; Most Involve Young Children
On Tuesday, September 12, CPSC will release a video on preventing TV and furniture tip-over deaths. The broadcast will feature the most recent data on TV and furniture tip-over deaths and safety tips in a child's room setting...more
PODCAST
Cars, Girls And Chrome; Custom Wheel Rentals Boom In US; RTO Online Podcast From The DUB Magazine Auto Show In St. Louis
Rent to Own custom wheels represent a huge growth opportunity in an industry some say is reaching maturity. Fewer than 150 rent to own wheel locations exist in the US today...more

California Orders Online Payday Loan Stores to Stop Lending in State
"Allowing unlicensed Deferred Deposit lenders to operate in the state unfairly penalizes those companies that are properly licensed and examined by the department." - Corporations Commissioner Preston DuFauchard....more

Editorial
No Talent Left In Senate
Want to lower the debt ratios of Soldiers Sailors, Airmen and Marines? Raise their pay. As the kids say, Duh. It's a five second decision any public school educated 4th grader could make...more
Ashley Furniture Honored As Top Refugee Employer
"The State Department alerted Wisconsin two years ago that Wisconsin would be welcoming refugees from Southeast Asia...Ashley Furniture has proven an excellent partner in this effort and is not only a maker of quality furniture, but also a builder of strong communities." - Secretary Roberta Gassman, Wisconsin Department of Workforce Development...more
Senate Banking Committee To Hear Testimony On DOD Payday Lending, Rent to Own Report
The sole witness will be David S. C. Chu, Under Secretary for Personnel and Readiness, U.S. Department of Defense. Shelby said additional witnesses will be announced at a later date...more
APRO Show Approaches; Expanded Educational Seminars Offered
Sixteen different seminars presented by eighteen different presenters covering such varied topics as "Trends in Electronics" by LG Electronics Vice President Bob Perry to "Why Smart People Do Dumb Things" by Dr. Larry Helms, founder of Trainergy. See full list of available seminars and presenters...more

ColorTyme Racing's Johnny Chastain Scores Third Tri-County Championship
Chastain's seventh victory of the season was enough for the team to clinch the 2006 Late Model championship at Tri-County...more

Pioneer, XM Introduce XM2go Player
The pink Pioneer inno [GEX-INNO-PK], has a suggested retail price of $349.99...more

Editorial
High Point Market To Consolidate Buildings And Build 30,000 Hotel Rooms...Ooops, Sorry; High Point Market To Publish Directory
It is unclear whether or not the new directory will publish directions to your $300 per night hotel room 50 miles from High Point, or which locals cut their grass the shortest to allow easy backyard parking prior to your 20 minute walk downtown, or local restaurant listings where reservations can be made only 2 years in advance...more

Dollar Financial Corp Reports Drop In US Payday Loan Same Store Sales; Increases In Canada, UK; Record Year Overall
Dollar's Canadian operations achieved comparable store sales growth of 15.8%, U.K. comparable store sales increased by 12.4%, while U.S. comparable store sales decreased by 5.6%...more
RTO Online - RTO Tradeshow Adds Video Booths
The addition of video will help buyers get a more detailed view of a particular supplier, and help participating vendors get their message out in a more effective way." - Roy Griffaw, President, RTO Online, Inc...more
Las Vegas Furniture Market Expands Hotel Lineup; January Market Dates Set
With a number of big events overlapping the January Las Vegas Market, attendees are strongly encouraged to book their hotel rooms now...more
Serving The "Self-Banked"; The Alternative Financial Services Industry
"Many [people] had bank accounts in the past and have found monthly maintenance fees, bounced check charges, low balance fees and other charges from their bank add up very quickly. It is therefore more accurate to refer to these people as ‘self-banked,’ rather than ‘unbanked’." - William Siegel, former Chairman of the Financial Services Centers of America...more

Nationwide Club's David Kaye Honored By Association
"David’s ongoing allegiance and support of the CIC Program is a testament to the value he places on ‘real world’ education and customer satisfaction." - Dr. William T. Hold, President, CIC...more

Furniture Brands International Warns; Cuts Q3 Earnings Forecast By 50%; Will Idle Plants
"As a result, we have scheduled downtime in several upholstery facilities and moved to take more aggressive discounts on selected slower-moving product." - Mickey Holliman, CEO, Furniture Brands International...more

 

LG Electronics Opens Russian Plant Near Moscow
The 150 million facility will turn out 500,000 digital TVs, 700,000 washing machines, 200,000 refrigerators and 260,000 home theatre systems annually. In 2003, entrepreneur Ian Woodcock introduced rent to own to the people of Moscow when he opened "Vivat Prokat" (Pronounced Bo-Bott Pro-Kotch) roughly translated "Wow Rent to Own"...more
Demand For Wide Screens Drive Increase In LCD Shipments
Dell extended its leading market share position from 19.0% in Q1'06 to 20.1% in Q2'06 thanks mostly to continued growth in the North American market as well as growth in the 20"Wide market...more

FNCS Collection ‘Tip of the Week’
"When receiving material from various sub-prime lending clients, including those of our RTO customers, we periodically find missing signatures by a customer, a lack of helpful information such as an SSN # or DOB and a host of other stumbling blocks that may reduce the speed of recovery." - Dan Jobrack, National Director of Business Development for FNCS...more

Rentcash To Spin Off Rent to Own Division; Announces Fourth Quarter and Record Year End Results
"We believe [selling or spinning off the rental division] will provide better clarity on both business models and have a positive long term impact on shareholder value." - Gordon Reykdal, Chairman and CEO, RentCash...more
Pentagon Payday Loan, Rent to Own Report Bogus; Written By Fringe Activist
Fringe activists worked so closely with the Pentagon that one group publicized the report the night of August 11th on its web site, even though Congress itself did not receive the report until Friday the 12th. Certain conclusions in the study directly contradict research conducted by the current chair of the FDIC, government agencies, foundations and academicians involved in financial issues and study...more
Mega Rental Group announces “Advertise like the Big Guys” campaign; Group Mails To 20 Million Consumers Per Month
Mega Rental Group’s marketing department has developed a unique “Customer Cloning” strategy which matches the demographics of your past customers to their national consumer database...more
Bassett Warns; Expect Q3 Down 7%
"Actions taken over the past three years to restructure our wholesale business have resulted in better returns." - Robert H. Spilman Jr., President and CEO...more

RTO Online Releases Traffic Numbers For August, 2006
Highlights: RTOonline.com recorded 3.75 million page views in August, up 14% from July. Average page views per session reached an all time high of 15.08, up 45% from July...more

ADVO Accused Of Fraud; Valassis Files Action to Rescind its $1.3 Billion Merger Agreement
"ADVO left us with no choice. The pertinent information we received was erroneous, projections were grossly inaccurate and we believe we were the victims of fraud." - Alan F. Schultz, Valassis Chairman, President and CEO...more
Carrico Opens First St. Louis Rent-N-Roll; Grand Opening Set For Sept 11
The St. Louis, Page Avenue Rent-N-Roll installed it's first set of custom wheels on a classic 1958 Chevy Delray...more
RentCash, Ace Cash Express To Webcast From Conference
Advance America and RentCash took lead rolls in forming Payday Loan Associations in Canada and the United States...more
Reutimann Heads To California In Aaron's Dream machine; Still In Contention For Top 10 Finish
Reutimann has been in the rumor mill recently as team owner Michael Waltrip seeks to deliver a driver to Burger King and Domino’s for the 2007 NASCAR NEXTEL Cup Series season. But Reutimann seems content with his increased role as a driver for the Aaron’s Dream Machine...more
Widescreen Displays Dominate US PC and Notebook Market
With the growth of wide displays in the consumer market, many leading PC brands are considering putting a halt on further development of standard aspect notebook PCs...more
SED International to Distribute Wherify's GPS Locator Phone
"Our goal has been to develop a world-class distribution network for the Wherifone through top-notch partners like SED International." - Timothy Neher, CEO and Founder of Wherify Wireless...more
Online Purchases of Furniture and Appliances Up 92%; Research Confirms
"Consumers for quite some time have been [buying] big-ticket electronic items such as TVs and computers online. So it is natural to see online shoppers also embrace the convenience, selection and pricing that is now more readily available through the Internet for other large-ticket items." - Kamran Pourzanjani, President, PriceGrabber.com...more
Dell TechKnow Gears Up For Largest Class Ever; 10,000 Students Expected Nationally
"Dell TechKnow is designed to help students gain the valuable 21st-century skills like collaboration and problem-solving that they'll need to compete in our digital world." - Karen Bruett, VP, Dell's K-12 education business...more
PC Gamers Outplay Console Users; Online Game Market to Grow to $4.4 Billion in North America in Three Years
PC gamers spend an average of 18.5 hours playing each week - more than console (13.6 hours), portable (8.9 hours), or mobile games (4.6 hours)...more

Consumers Pessimistic; Confidence At Year Low
"Looking ahead, the glass remains half empty as consumers are growing increasingly more pessimistic about the short-term outlook." - Lynn Franco, Director, Conference Board Consumer Research Center...more

HOT
Philips Reveals Prototype Gaming Platform
The multi-purpose platform enables a new class of gaming that combines electronic games with the social interaction of board games. Entertaible is based on  new technologies enabling simultaneous multi-user interaction, object detection and recognition.  The Entertaible platform comprises a 32-inch horizontal LCD, multi-touch and shape recognition technology...more
ACE Cash Express Donates 1 Million Book Covers to Schools Across Texas
"Junior Achievement's core purpose is to inspire and prepare young people to succeed in a global economy. Working with [ACE Cash Express] to provide financial lessons to younger students is a great addition to our regular volunteer-driven curriculum." - Linda Schoelkopf, President, Junior Achievement of Dallas...more

Dan Opaka Opens Portland Premier Rental Purchase; Store To Combine Traditional With Wheel and Tire
Dan Opoka is gearing up for his Premier store opening in September. He’s taking two leaps – one into business ownership after a successful 17-year RTO career and the other into the whole new promising adventure of wheels and tires...more

Cash Now To Bring Payday Lending To China, Hong Kong
"There are currently 5 million credit cards in the People's Republic and 50 million people who, based upon Western credit scoring analysis, would be eligible for credit cards." - Cash Now Corporation...more
Payday Operator First Cash Acquires  Buy-Here/Pay-Here Car Dealer Auto Master For $33.7 Million
"We believe that projected population growth trends in the south and southwest, especially among 'un-banked' or 'under-banked' consumers, should continue to create long- term demand for affordable used vehicles and financing, as well as opportunities for expansion into other markets where First Cash operates." - Rick Wessel, Vice Chairman of the Board, First cash...more
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