Rent-to-Own

William Cuthbertson jailed to raise money for the Muscular Distrophy Association.

Local business owners and community leaders from Clarksville, Tenn. were accused recently of “having a big heart” and were “arrested” and hauled off to “jail” on Thursday, June 18.

Among them were Premier Rental-Purchase dealers William, James and Leaann Cuthbertson. They remained “behind bars” while they raised “bail,” money that was donated to the Muscular Dystrophy Association (MDA).

The MDA Executive Lock-Up was held at a local Clarksville restaurant. With the help of the community and other supporters, “jailbirds” raised $34,000 to support groundbreaking research at the MDA Clinic at Vanderbilt University Medical Center and to send children and young adults with neuromuscular diseases to MDA’s annual Summer Camp at the Center for Courageous Kids in Scottsville, Ky.

The Cuthbertsons raised nearly $11,000.00 at a pre-event carnival they hosted at their Premier store a week earlier. One hundred percent of all carnival proceeds were donated to the MDA as well as the first payment on every new account opened that day.

On the day of the lock-up, their “bail” reached $1,500 within 45 minutes, thanks to the community and fellow Premier dealers who were eager to “spring them.” The Cuthbertsons raised the most money out of all the other 40 participating small businesses.

“It was a very successful effort,” said William Cuthbertson. “It was touching to see the gratitude expressed by the recipients and to know that we had been part of something that will change lives and support a good cause. It was also heart-warming to see the response from the community and also from our fellow Premier business owners who rallied behind us with their financial contributions. I am looking forward to visiting the camp in July to see just what we were able to provide to help our friends with MD. It was definitely worth getting ‘locked up!’”

The Clarksville Premier Rental-Purchase store is located at 98 Dover Crossing Road. Phone is 931/906-8551. The store has been a member of the community since 2006.

mevans@rtohq.org

Angel Park Golf Club.

This year’s annual Tom Kitchens/Joe Eason Golf Tournament will be held on the Palm Course at the Angel Park Golf Club in Las Vegas during APRO’s annual Convention.

Registration Deadline: August 14

Find full tournament details and download entry form here.

At almost 3,000 feet in elevation, Angel Park offers spectacular views of Red Rock Canyon and the Las Vegas Valley. Angel Park Golf Club features 36 holes of championship Las Vegas golf designed by the legendary Arnold Palmer, the lighted Cloud Nine Short Course, and the world’s original natural grass Putting Course.

Buses depart Bally’s at 11:30 a.m. on Sunday, Aug. 30, and the tournament will be held from 1-5 p.m.

Registration fee: $105 per player with $25 of every registration going to the APRO Education Scholarship Foundation.

Registration deadline is August 14, and space is limited and assigned on a first-come, first-served basis. 

 Find full tournament details and download entry form here.

For more information on the course, including driving directions, please visit the Angel Park Web site.

APRO Convention home page.

This year’s annual Tom Kitchens/Joe Eason Golf Tournament will be held on the Palm Course at the Angel Park Golf Club in Las Vegas during APRO’s annual Convention.

Registration Deadline: August 14

Find full tournament details and download entry form here.

At almost 3,000 feet in elevation, Angel Park offers spectacular views of Red Rock Canyon and the Las Vegas Valley. Angel Park Golf Club features 36 holes of championship Las Vegas golf designed by the legendary Arnold Palmer, the lighted Cloud Nine Short Course, and the world’s original natural grass Putting Course.

Buses depart Bally’s at 11:30 a.m. on Sunday, Aug. 30, and the tournament will be held from 1-5 p.m.

Registration fee: $105 per player with $25 of every registration going to the APRO Education Scholarship Foundation.

Registration deadline is August 14, and space is limited and assigned on a first-come, first-served basis. 

 Find full tournament details and download entry form here.

For more information on the course, including driving directions, please visit the Angel Park Web site.

APRO Convention home page.

Send this email to your golfing buddies! Use the "Send to a Friend" link at the bottom of this email!
 

‘A breath of fresh air’: Illinois RDA makes renovation possible at area Boys and Girls Club

New IRDA Board Members L to R: David Keen (Rent One), Casey Pristou (Aaron’s), Ken Hollis (Rent-A-Center), Brent Tedrick (ColorTyme), Kevin Milliron (Aaron’s), Larry Carrico (Rent One), Henry Baird (Action Rentals and Sales), Jason Chenault (DSI), Steve Braning (National Rent-To-Own), James Richard (Fraenkel Company).

It wasn’t the outreach project they’d planned to do; but it’s the one that needed doing.

The Illinois Rental Dealers Association Tuesday will formally present The Boys and Girls Club of Central Illinois (BGCCIL) with a check for $21,000 at a press conference at 10 a.m. in Springfield — a donation that will fund a slew of renovations at the Club’s central unit in east Springfield.

The BGCCIL, which provides sports and fitness, arts, leadership, health and career development programs for over 900 area children ages 6-18 annually, sort of pitched itself to Illinois Rental Dealers Association scouts, who at the time were looking to add playground equipment to an existing park for the city, according to association treasurer Larry Carrico.

"We’d decided back at our last board meeting we wanted to do something for the community and that’s where the park idea came from," Carrico said. "But we weren’t all that impressed with the park location. When we went around the block and saw the activity at the Boys and Girls Club we knew we had a winner. We knew this project would give the community more bang for the buck."

Read More.

Aaron’s, Inc. will host a conference call at 10:30 a.m. EST July 22 to discuss the company’s second quarter 2009 results.

There will be opening remarks and then questions and answers with Chairman Charlie Loudermilk, President/CEO Robin Loudermilk, COO Ken Butler, and Executive Vice President/CFO Gil Danielson.

Dial 1-800-357-0498 a few minutes before the scheduled time of 10:30 a.m. EST and provide the following conference ID number: 23421. For international participants the number is 850/429-1388.

A replay will be available that day until Saturday, Aug. 22.  For a replay, dial 866/415-9491 and enter the conference ID number 23421 or access the replay in the investor relations section on our website at www.aaronsinc.com.

mevans@rtohq.org

IRDA Board members.

It wasn’t the outreach project they’d planned to do; but it’s the one that needed doing.

The Illinois Rental Dealers Association Tuesday will formally present The Boys and Girls Club of Central Illinois (BGCCIL) with a check for $21,000 at a press conference at 10 a.m. in Springfield — a donation that will fund a slew of renovations at the Club’s central unit in east Springfield.

The BGCCIL, which provides sports and fitness, arts, leadership, health and career development programs for over 900 area children ages 6-18 annually, sort of pitched itself to Illinois Rental Dealers Association scouts, who at the time were looking to add playground equipment to an existing park for the city, according to association treasurer Larry Carrico.

"We’d decided back at our last board meeting we wanted to do something for the community and that’s where the park idea came from," Carrico said. "But we weren’t all that impressed with the park location. When we went around the block and saw the activity at the Boys and Girls Club we knew we had a winner. We knew this project would give the community more bang for the buck."

Jill Young Shurtz, president and CEO of the BGCCIL, said the surprise donation couldn’t have come at a better time. With the state facing a $12 billion budget shortfall, and local contributions down, Shurtz wasn’t sure how the renovation work would be accomplished anytime soon.

"It was really a breath of fresh air," Shurtz said. "They most definitely picked a good time because this kind of contribution is not easy to come by, especially in today’s economy. They’ve (IRDA) given us a chance to improve our facilities and, through this partnership, we’ll have the opportunity to serve more kids."

The $21,000.00 contribution will be used for various improvements and upgrades at the central unit which include new bathroom facilities, staff computers, landscaping and a sponsorship for the Gus Macker “Dream Court” during the three on three basketball tournament on July 11 and 12, 2009 in downtown Springfield.

Press conference guests scheduled to appear include Springfield Mayor Tim Davlin, Illinois State Senator Larry Bomke, Representative Raymond Poe, Springfield City Council Alderwoman Gail Simpson and Sherman Mayor Trevor Clatfelter.

Other dignitaries expected to attend include Carol Murna, Illinois Rep. Aaron Schock’s (IL-18) Chief of Staff, and Pat Dawson, from Congressman Phil Hare’s (IL-17) office.

Members of the IRDA Board of Directors and Gopal Reddy, President and CEO of Action Development Corporation, an Aaron’s franchise, will present the check to Schurtz Tuesday.

The Illinois Rental Dealers Association, established 15 years ago, represents over 200 members all located in Illinois. The Association’s officers are: President Steve Braning of National Rent to Own, Vice President Kevin R. Milliron of Aaron’s, Treasurer Larry Carrico of Rent One, Secretary Henry Baird and seven board members. The organization strives to safeguard the trade interests of Illinois rental dealers and vendors, and promote ethical practices and goodwill within the rental-purchase industry and community.

“A few years ago the IRDA decided there would be one major philanthropic project each year that would benefit the children in one community in Illinois," Milliron said. "This year we are proud to be able to help the The Boys and Girls Club of Central Illinois. Considering the state and federal funding cuts to social service organizations, we felt it important for our businesses to step forward and contribute at this time.”

Illinois is home to 258 rent-to-own stores that employ 1,548 and drive over $190,000,000 in annual revenues. Springfield is home to two National Rent To Own stores, two Aaron’s and two Rent-A-Center stores.

"This is something where we stepped back and said we wanted to do something different," Braning said. "We decided every year we want to go to a different part of our state and do something for our community. It was really a group effort I’m proud to be part of."

mevans@rtohq.org

New Consumer Protection Agency could impact RTO bills

The Obama administration yesterday sent a detailed proposal to Congress to create an agency to protect consumers and oversee nearly every facet of consumer lending.

Though the bill, and the agency it proposes to establish – The Consumer Financial Protection Agency – does not name rent-to-own directly and is focused on abusive mortgage and credit card lending practices that led to the current financial crisis, the "ripple effect" of the bill could color attitudes about pending RTO legislation and the industry in general.

Read More.

The Obama administration yesterday sent a detailed proposal to Congress to create an agency to protect consumers and oversee nearly every facet of consumer lending.

Though the bill, and the agency it proposes to establish – The Consumer Financial Protection Agency – does not name rent-to-own directly and is focused on abusive mortgage and credit card lending practices that led to the current financial crisis, the "ripple effect" of the bill could color attitudes about pending RTO legislation and the industry in general.

Administration officials propose the new regulator have a broad mandate to cover the spectrum of consumer financial products and to fill gaps in current regulations.

The new agency, with it’s sweeping regulatory power, could be a double edged sword for the rent-to-own industry, according to Ed Winn III, legal counsel for the Association of Progressive Rental Organizations.

"One would hope the renewed interest in consumer protections would lead Congress to take a closer look at our pending rent-to-own bills," Winn said. "And that could be a good thing. The other side of that is it could just be regulation run amok and they could ignore our pending bills and roll us in as a credit sale. It’s still to early to tell."

APRO Legal Counsel Ed Winn III.

The new agency proposal has already earned support from Congress’ top financial services and banking industry lawmakers, House Financial Services Committee Chair Barney Frank, and Senate Banking Committee Chair Chris Dodd. Both Frank’s and Dodd’s committees also have jurisdiction over pending rent-to-own legislation in both the House and Senate.

But the bill is already meeting stiff resistance from the banking industry which is hoping to win over the few undecided lawmakers who will be critical in deciding which details will be included in the final bill. Industry groups say they are forming a coalition to persuade members of Congress to scale back the bill, according to the Washington Post.

"I think when people read this, they will be shocked about the incredibly broad delegation of power," Edward L. Yingling, chief executive of the American Bankers Association, told the Post. "It basically can do almost anything it wants. . . . I think there will be opposition simply on the breadth of it, on the balance of power between Congress and an agency."

But the notion of protecting consumers will be difficult to separate from a bill some see as over-reaching and too restrictive. This may make the bill difficult for lawmakers to oppose, according to some D.C. analysts, and the prevailing winds of more regulatory oversight will likely carry the day.

A U.S. Treasury Department spokesperson said the bill represents a return to more significant regulation of a sector that had lost much federal oversight in recent years.

Rep. Frank said he aims to approve the committee’s version of the bill before Congress’s summer recess begins on Aug. 3.

"The federal regulatory system has clearly failed to provide adequate protection for consumers and that failure contributed to the broader economic crisis," Frank told the Post. "That is why I have made the creation of the agency one of our highest priorities."

However, Frank will face Republican opposition on the bill from Congress members who argue American consumers are best suited to make their own financial decisions. Rep. Spencer Bachus (R-Ala.),  the ranking member of the Financial Services Committee, said the best way to protect consumers is not through the creation of another bureaucracy but by consolidating the regulatory system and holding regulators accountable.

Some consumer groups said the bill does not go far enough.

The Consumer Financial Protection Agency would be run by a presidentially-appointed, five-member board and wield subpoena power and wide-ranging investigative power.

Currently rent-to-own legislation — the Consumer Rental Purchase Agreement Act — which would define the RTO transaction as a lease and provide a range of consumer protections as well, enjoys bipartisan support with 97 House co-sponsors and 14 Senate co-sponsors.

The House version of the bill — H.R. 1744 — was referred to the Financial Services Committee on March 26 and the Senate version of the bill — S. 738 — was referred to the Senate Banking Committee on March 30.

mevans@rtohq.org
 

APRO’s Employee and Customer of the Year Contest is On!

Watch video.

Deadline July 24!

The search is on for the rent-to-own customer and employee who best personify the spirit of the industry through their work on behalf of others.

Nominations can be made online here.

APRO’s Employee and Customer of the Year are those customers and employees who inspire, help or sacrifice for the betterment of their families and/or communities.

If one of your employees represents rent-to-own with such honor and character then be sure to submit their name’s for APRO’s 2009 Employee and Customer of the Year contest.

Read more about the application process and judging criteria here.

mevans@rtohq.org

Click to watch video.

APRO’s Employee and Customer of the Year Contest is On!

Deadline July 24!

The search is on for the rent-to-own customer and employee who best personify the spirit of the industry through their work on behalf of others.

Nominations can be made online here or by downloading and faxing this application.

APRO’s Employee and Customer of the Year are those customers and employees who inspire, help or sacrifice for the betterment of their families and/or communities—just like the previous recipients listed here have done.

If one of your employees represents rent-to-own with such honor and character then be sure to submit their name’s for APRO’s 2009 Employee and Customer of the Year contest.

Read more about the application process and judging criteria here.

mevans@rtohq.org