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11-19-08
La-Z-Boy Cuts Credit Backing for Independent Galleries
The company said in a statement Tuesday that, due to the overall tightening of the financial markets,
La-Z-Boy will withdraw credit support to certain independent
dealers which will likely result in the closure of 15 to 20 dealer
owned, La-Z-Boy Furniture Galleries stores over the next 90 to
120 days...more
11-18-08
Weakening Economy Means Less Spending But More Generosity
The weakening U.S. economy will force many U.S. adults to cut
back on holiday gift spending this year but will also make some more likely to
give a "charitable gift" as a present this holiday season...more
11-18-08
Online Registration Open For PrimeTime! in New Orleans
Nationwide Marketing Group (NMG),
parent company of RentDirect, the rent-to-own industry's largest
buying group, announced that online
registration is now open at
www.nationwideprimetime.com for the next PrimeTime! by
Nationwide to be held on March 8-11, 2009 at the Hilton
Riverside in New Orleans...more
11-18-08
DSI Announces
Partnership with Sanus Systems
DSI Systems, the largest national
distributor of LCD , Plasma and DLP TVs and a leading
distributor to the rent-to-own channel, announced that new lines now available with Chief
Manufacturing & Sanus Systems...more
11-18-08
Rent-A-Center Donates to Military Families
Rent-A-Center commends the men and women currently serving our country in
military service and recognize the commitment and dedication they and their
families have made to the United States of America," said Bill Monnat, regional
director for Rent-A-Center...more
11-18-08
Prater, Welch Promoted at easygates
Bud Gates,
Chairman and CEO of easygates, LLC announced the promotions of
Ladd Welch and Chris Prater to Co-Presidents of easygates, LLC...more
11-14-08
Nationwide Rental Coalition Organizes Connecticut Trade Association
RentDirect
Nationwide announced today the formation of the
Connecticut State Rental Dealers Association. An organizational
meeting will be held on Thursday, December 11, 2008 in the city
of North Haven...more
11-13-08
Massachusetts Rent-to-Own Dealers Form Trade Association
RentDirect Nationwide and the
Nationwide Rental Coalition (NRC) today announced the formation
of the Massachusetts State Rental Dealers Association (MSRDA).
An organizational meeting hosted by the NRC will be held on
Wednesday, December 10, 2008 in Boston at the Taj
Boston Hotel...more
11-12-08
Rent-to-Own Dealers Capitalize on Fast Tax Refunds with Liquid Tax
As 2008 winds to a close, it's important to plan for the 2008 Tax Season right
now. With the typical rent-to-own store serving close to 400 customers, consider
the incremental revenue opportunity if half select to file their tax returns
through you...more
 11-12-08
Aaron's Outdoors Takes Michael Waltrip on First-Ever Wild Boar Hunt;
Exclusive Michael Waltrip Photos
Michael Waltrip's racing prowess is
well-known to millions of NASCAR fans. Thanks to Aaron's
Outdoors, a nationally televised outdoors show sponsored by
Aaron's Sales and Lease Ownership, millions more will have the
chance to judge for themselves if Waltrip's hunting prowess is
equally on target...more
11-12-08
Holiday Hot Sellers Showcased in Almo's Latest CE Catalog
As one of the nation's largest consumer electronics and appliance distributors, Almo is able to compile a listing of
the top sellers for Q4 based on consumer demand, manufacturer
foresight and analyst predictions. Featured products range from
headphones to the latest voice-controlled GPS...more
11-12-08
Consumer Tighten Belts But Shopping Patterns Remain Unchanged
The latest shopping behavior data
released by The NPD Group indicates that while consumers may
intend to change how they shop, for now they are not changing where they shop...more
11-12-08
Flat Panel TV Shipment Growth Slows as Discretionary Income Falls
The overall North America TV market growth in Q3'08 was stronger
than expected given the extremely strong growth of the previous
quarter, and seems to indicate that retailers maintained strong
purchasing levels during the first couple of months during the
quarter, before the retail demand difficulties emerged during
the latter weeks of September...more
11-10-08
easyhome Same Store Sales Up 4.9%; Software, Acquisitions Hurt Execution
easyhome said in a statement, "As previously announced, we
installed our new IT system in the second quarter of 2008. This
rollout, coupled with attention to the integration of Insta-rent
Inc. ("Insta-rent"), has lead to widespread execution
issues, as our staff's attention to corporate stores was diluted...more
11-10-08
Employers to Aggressively Reduce Payrolls Into 2009
The sharp decline in the Employment Trends Index in recent months suggests we
will experience even greater deterioration in the labor market in the months
ahead, and that the unemployment rate will continue to rise sharply well into
2009...more
 11-10-08
Paul Davis of Nation's Rent-to-Own Enters Local California Politics
Paul M. Davis, owner of Nation's Rent-to-Own
and President of the California Association of Progressive
Rental Organizations (CalAPRO), announced his
candidacy for Riverside, California City Council Ward 4...more
11-10-08
Whirlpool to Offer Front-Load Features in Top-Load Models
According to a study for the Home Improvement Research Institute
by Whirlpool (NYSE:WHR), nearly three-quarters of American
households own top-load washing machines. At the same time, 78 percent of
homeowners are interested in reducing household energy costs or utility bills...more
11-10-08
Experts Warn of Bed Bug Issues in College Dorms
Besides bringing home their dirty laundry and a revised list of "back-to-school"
items, experts warn that students returning home for Thanksgiving may also
arrive with bed bugs.
Listen to an informative bed-bug podcast interview with Richard
Cooper...more
11-10-08
CL Verify Launches TRACKER Skip Tracing Tool
CL
Verify, a provider of customer information services to the
rent-to-own channel, announced the launch of TRACKER, a powerful new
skip-tracing tool...more
 11-07-08
Rent-A-Center Salutes America's Greatest Generation
Rent-A-Center (NASDAQ:RCII) helped sponsor
the 2008 Rotary Club of Dallas
Salute to American Veterans fundraiser benefiting the DFW-USO.
The event was held
Wednesday in the Frontiers of Flight Museum inside Love Field
Airport in Dallas. Rent-A-Center hosted four WWII veterans at
the event and donated two flat-screen TVs and a computer for the
silent auction...more
11-07-08
The Premier Companies Launches Event Registration System
The Premier
Companies, parent company of Premier Rental-Purchase,
Premier Wheel Workz, Premier Home Furnishings, and Premier U-Getcha
Cash, today launched the Premier Event Registration System (PERS).
PERS allows online attendee registration for all Premier events
including the company's annual convention scheduled for January
18-22, 2009 in New Orleans...more
11-07-08
The Economy and Small Business Trends
The U.S. economy experienced weaknesses in the third quarter, as
real gross domestic product fell 0.3 percent. Consumers, who helped lift GDP in
the second quarter with their economic stimulus checks, reduced their spending
by an annualized 3.1 percent in the third quarter...more
11-07-08
easyhome Completes
InstaRent Acquisition
easyhome Ltd., Canada's largest rent-to-own company, announced today that it has completed its
$10 million acquisition of InstaRent...more
11-07-08
La-Z-BOY
to Lay-off 10% of Workforce
La-Z-Boy (NYSE:LZB) will lay-off 10% of its workforce and close
as many as 20 Gallery stores due to what company officials
describe as "difficult macroeconomic conditions."...more
11-07-08
Arkansas Supreme Court Declares Check Cashers Act Unconstitutional
he Arkansas Supreme Court yesterday declared the Check-Cashers Act
"Unconstitutional in its entirety."...more
11-06-08
12 Million Americans Still Carry Debt from Last Year's Holiday Shopping
Over three-quarters (76%) of Americans plan to cut back on
holiday spending according to a new Consumer Reports Holiday
Shopping Poll. The poll data indicates that 12 million
consumers, 6% of the buying public, are still carrying debt from
last winter's holiday season...more
11-06-08
Feds Approve CORT Acquisition of Aaron's Corporate Furnishings Division
CORT, a Berkshire Hathaway company
received federal regulatory approval for its $72 million
acquisition of Aaron Rents (RNT) Corporate Furnishings Division. The
acquisition was finalized today...more
11-06-08
Furniture Retailer Havertys Same Store Sales Down 15 Percent
"We have seen more deterioration in consumer spending for big-ticket purchases
and the current outlook for the near term continues to be difficult." -
Havertys' president and CEO Clarence H. Smith...more
11-05-08
Election Night Poll; 77 Percent of Democrats Say Frivolous Lawsuits Hurt Economy
Across the political spectrum, voters agreed that frivolous
lawsuits remain a problem in the United States, and that our
economy will be negatively impacted if Congress expands
opportunities to sue. Eighty three percent of voters said the
number of frivolous lawsuits was a serious problem, including 77
percent of Democrats; 80 percent of Independents; and 92 percent
of Republicans...more
11-05-08
From English as Official Language to Payday
Loans; Citizen Ballot Initiatives On the Rise
There were 153 ballot measures decided yesterday. Of the 59 citizen initiatives
on the ballot, voters approved 22, rejected 30, and seven remain undecided at
press time. Between 1996 and 2006, voters approved 49.4 percent of initiatives
on the ballot...more
11-05-08
Advance America CEO "Deeply Troubled"; Comments on Ohio Payday Lending Law
"Advance America is
deeply troubled to see another reduction in options available to
consumers, rather than reasonable reforms that would clearly
better serve the citizens of the great state of Ohio." - Ken
Compton, CEO of Advance America...more
11-05-08
Aaron's Raises Dividend 6.3%
"Our directors were pleased to approve this dividend increase as a way to reward
our shareholders for their confidence in Aaron Rents," said Robert C.
Loudermilk, Jr., President and Chief Executive Officer...more
11-05-08
How the Rent-to-Own and Payday Loan Industries Fared in the Election
CORRECTION 11-05-08 11:30 am EST: We previously reported that Ohio voters
approved the building of casinos. They did not. The measure was defeated. The
article has been corrected.
In the U.S. House and Senate, the
rent-to-own industry did OK yesterday - meaning it could have
been much worse. Democrats did not reach, at least for now, the 60 Senate
seats necessary for their hoped-for super majority and
Republicans managed to hold House losses below worst case estimates...more
11-05-08
Lynnray Financial Urges Rent-to-Own Dealers to Diversify
Funding
Lynnray Financial Corporation, a leading provider of financing
to the Rent-to-own (RTO) industry, is urging rental dealers
nationwide to use the current crisis in the financial markets as an opportunity
to diversify their funding sources and seek financial partners with a
diversified revenue stream...more
11-04-08
DreamSeat Adds Interchangeable Logo System to
RTO Sports Furniture Line
DreamSeat's new XZipit furniture line is designed with a patented concealed
zipper system that allows customers to interchange logos.
Rent-to own customers can showcase their favorite team, college,
personalized logo or even a favorite photograph on a XZipit recliner with the unique ability to change it at
any time...more
11-04-08
Breaking
Dumler Replaces DeMoss as Rent-A-Center Rep on APRO Board
RTO Online has learned that Dwight Dumler, Senior Vice President of
Government Affairs for Rent-A-Center (NASDAQ:RCII), will replace Ron DeMoss as
a board member of the Association of Progressive Rental
Organizations (APRO)...more
11-04-08
Get Some; U.S. Companies Prepare for Rise in Litigation Following Two Years of Declines
This year's survey appears to mark an inflection point for
American business, between the end of a prolonged period of
prosperity and the start of a period of economic challenge that
is likely to fuel litigation over who is to blame and who should
pay for the consequences," said Stephen C. Dillard, who chairs
Fulbright's global litigation practice...more
 11-04-08
Premier Wheel Workz Expands Custom Wheel Rent-to-Own Training Program
Dale Ingram, president of
Premier Wheel Workz,
the custom wheel rent-to-own (RTO) franchise of The
Premier Companies, announced this
week that Mike Lewis, Vice President of Operations for Premier
Rental-Purchase, will offer to Premier Wheel Workz dealers
expanded operational training and a dealer check-out program...more
 11-03-08
Nationwide Southwest Sponsors RTO Industry Pros at Texas Governor's Mansion
Members of Nationwide Southwest,
Nationwide Rental Coalition (NRC) and
RentDirect attended a
Friends of the Governor's Mansion (FGM) fundraiser Thursday in
Austin, Texas. Attendees were sponsored by Nationwide Southwest, a division of
Nationwide Marketing Group...more
11-03-08
ColorTyme of Charlottesville Sponsors Boys and Girls Club
When the Boys & Girls Club of
Charlottesville/ Albemarle, Va. needed some giant-screen TVs for
their week-long Teen Video Tournament, Boys & Girls Club Unit
Director David Uribe called on their neighborhood ColorTyme
store...more
11-03-08
Samsung Commits $5 Million to Breast Cancer Research
Susan G. Komen for the Cure, the largest breast cancer advocacy organization in
the world, is teaming with Samsung Electronics Europe, a leading corporate
supporter of breast cancer charities in Europe, in a collaboration unparalleled
in the breast cancer movement...more
11-03-08
Panasonic Continues to Dominate Plasma; Q3 Plasma Shipments Rise Sharply
Plasma TV shipments were surprisingly strong in the third quarter of 2008, up
18% from the second quarter and 37% over Q3 2007...more
11-03-08
Circuit City to Close 155 Stores in 55 Markets; See Complete List of Store Closings
See complete list of Circuit City Stores to be closed.
Circuit City (NYSE:CC) will close 155 locations in 55 markets
due to what company officials described as the company's
"deteriorating liquidity position and the continued weak
macroeconomic environment". Circuit City will also reducing
future store openings and aggressively renegotiate certain
leases...more
11-03-08
Technology Revolutionizing Rent-to-Own Operations
"In today's cyber-world, high-technology and finance combine to
offer many improved methods of banking over the internet which
truly revolutionize rental-purchase operations in favor of the
store owner," says Dan Jobrack, DATATrue's Executive Vice
President of Sales...more
 10-30-08
RTO Industry Supporter Landrieu Poised for Come From Behind Victory
in Senate
Statewide poll results just released by Southeastern Louisiana
University (SLU) show rent-to-own industry supporter Senator Mary
Landrieu (D-LA) leading Republican challenger John Kennedy
by a massive 19 point margin. As recently as this summer, Landrieu was
considered the most at-risk Democrat in the Senate...more
10-30-08
Experts Fear Democratic Congress Will Pass Lawsuit-Expanding Provisions
If plaintiffs' lawyers convince the next Congress to enact massive
lawsuit-expanding legislation next year, the added costs will slow America's
economic recovery...more
10-30-08
Schumer Proposes Small Business Stimulus Package; NRF Asks Congress for Another
Round of Checks
At a press conference Wednesday, Senator Chuck Schumer (D-NY) proposed a $700
million stimulus plan for small business. Schumer said his plan included a
waiver of fees that banks must pay to make Small Business Administration (SBA)
guaranteed loans as well as increased funding for the SBA...more
10-30-08
Advance America Could Take $42 Million Hit if Forced to Close Ohio Centers
Payday loan operator Advance
America stands to lose $43 million in revenue in Ohio if forced
to close its stores.
As previously reported, the company has joined with other
short-term loan companies in the State of Ohio to support a
referendum effort designed to allow citizens a choice in
deciding whether to have access to a regulated payday advance
product...more
10-30-08
Consumer Electronics Association
Announces 2009 Board
The Consumer Electronics Association (CEA) elected its 2009
slate of directors including the first-ever retailer Chairman...more
10-30-08
Handling Used Mattresses; ISPA to Maintain List of Used Mattress Recyclers
How to dispose of used mattresses is an issue facing every rent-to-own company.
The International Sleep Products Association will make that job a little easier
with the addition of a new Sustainability section on its Website...more
10-30-08
easyhome Donates $300,000 in Merchandise to Salvation Army Thrift Stores
"This
donation from easyhome Ltd. is a tremendous gift to our
organization" - John Kershaw, National Managing Director, Salvation Army
Thrift Stores, Canada...more
10-30-08
RTO Pro Software Continues Development; Adds Pricing Methods
On the heels of last week's release of its new version 5.2.183, RTO Pro Software
today announced the addition of two new pricing methods...more
10-30-08
Canadian RTO Operator easyhome to Webcast Q3 Conference Call
easyhome Ltd., Canada's largest rent-to-own company, will hold its quarterly
management conference call on Tuesday, November 11, 2008 at 11 am EST...more
 10-29-08
New Mexico Rental Dealers Plan Legislative Agenda for 2009
Rent-to-own dealers and vendors serving New Mexico met in Albuquerque Tuesday to
plan the formation of the New Mexico Rental Dealers Association and plan a
political agenda for 2009. Nationwide Southwest sponsored the event...more
10-29-08
Aaron's Same Store Sales Up 5.7%; Takes Hit on 2009 Estimates
Aaron Rents (NYSE:RNT) yesterday reported same store sales for
the Sales and Lease-Ownership division increased 5.7% during the
third quarter of 2008 compared to the same quarter in 2007.
Revenues increased 17%...more
10-29-08
Canadian Payday Loan Company Commits $7.5 million for Diabetes Research
Gordon J. Reykdal, Chairman and CEO of
Canadian payday-loan provider The Cash
Store Financial Services Inc., today
announced that
the Company will harness the energy of its over 1,500 associates
working
through its national network of 400 alternative financial
services branches to
raise $7.5 million over seven years for the Alberta Diabetes
Foundation (ADF)...more
 10-28-08
Rent-A-Center Renovates Staten Island Firehouses
In recognition of National Fire
Prevention Month, Rent-A-Center teamed-up with the New York City
Fire Department (FDNY) today to help promote the message of fire
safety during Fire Prevention month through a charitable
donation to the FDNY Foundation...more
10-28-08
Ohio, Arizona Payday Loan Ballot Initiatives Have Nationwide Implications
According to Joseph Coleman, Chairman of the
Financial Service
Centers of America (FiSCA) the outcome of payday-loan ballot
initiatives in Ohio and Arizona will affect the cash advance
industry in all states...more
10-28-08
Whirlpool to Cut 5,000 Jobs; Sees Weak Demand
Through 2009
Whirlpool (NYSE:WHR) announced
a massive restructuring plan today as a result of decreased
demand due to the weak global economy...more
MORE >>
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