rent-a-center-inc-logo RAC stock market shares predicted to fall 25 july 2012 as news of public images of celebrities goes world wide
rent a center pass fail NEWS of Stock Market Shares Increase or Falling 25 July 2012 Prediction they will fall to $3.00 in future
Message to President Barack Obama (tweeted)
based on all this research this company borrows billions of dollars, charges outrages interest rates for poor people that don’t have good credit..
retail sales would go up if there was a cap on interest rates under 20% for credit cards, loans, and appliance, furniture rental stores etc.
people could afford to pay BACK what they owe and make a stronger economy.
and rental companies would be required to make a minimum of 50% of what they Owe in debt.
when you buy a house your only allowed a payment of 30% for mortgage and debts.. This rule applies to people, it should apply to corporate and business.
it would make a strong solid economy and if people cannot pay a loan the default risk is much smaller than lending them billions of dollars and they only manage to make 1/4 of that back each year in sales, minus expenses.
the whole system needs revamping so that people learn to SAVE money instead of living week by week, check by check. That’s why they are all not able to pay those mortgages, and why companies got so far into debt they couldn’t do it on their own (which they should be required too – old school ways) instead of applying to the government, getting trillions of dollars in loans and then they cannot pay it back and leave you with a big headache.
instead they should be advised to combine forces with like minded businesses, and once they are strong again, they can separate into two.
combine the businesses, give them credit interest under 10% to make it manageable and they are required to show a growth of 25% within the first year, if not they have to combine again until they can level it out.
combined forces are tricky but if you pool your resources (barter method where there is no charge money wise, instead a service is granted and the “value” of that service is taken into consideration” then this will help the retail, commercial, business sectors.
combined business means more customers needs met in one place, instead of several and more employee’s required in ONE area instead of several. Saves money for travel, gas, wear and tear on vehicles and customers can do a one stop business transaction for several things. this has worked in the grocery store chains.. it should be implemented into business.
this is one blog post that i’ve updated over the last couple of days, i do research on this for various reasons. brought this idea to you so you can see how much “money” furniture rental stores make yet they are not scrutinized for it and get away with things other’s don’t. Same law applies to ALL businesses creating an equal playing field, creativity and job creation for all parties involved…
537-complaints-and-reviews-about-rent-a-centers-policies-products-customer-service-collections-celebrity-commercials-public-image-stock-market-shares-will-fall-prediction
hulk hogan from TNA might be hurting his public image – based on 537 complaints plus found on Google – 537 reasons why people don’t want to buy stuff from rent a center world wide
SITE QUOTES – Public, Local News, Journalists
8 Celebrity-Endorsed Financial Products We Wouldn’t Buy
Hulk Hogan for Rent-A-Center
By MARTHA C. WHITE | January 12, 2012 |
3
quoteFormer WWE star Hulk Hogan signed on to be a spokesman for Rent-A-Center in 2010. He joined football announcer and former player Troy Aikman in commercials, where he peddles rent-to-own furniture and electronics. In one ad, he enthusiastically touts a 52-inch TV for around $40 a week — or roughly $160 a month — for a two-year contract. This works out to more than twice what a comparable product would cost if you purchased it at a big-box electronics retailer. That hurts more than a body slam.
Next: Suze Orman for the Approved Card
Troy Aikman and Hulk Hogan might be hurting their public image by endorsing Rent a Center based on over 537 recorded complaints filed, court action cases and a general public opinion.
I did a search last night and was wondering why does this company allow these issues to go all the way to court, having court fees and actions set against them to deal with the problems?
Grant it they have a customer service number in the windows of the store and Evan is quick to call, argue about contract agreements and his final word is that he cannot keep the words of his sales people.
he did say that if you get it in writing he has to honor it.. so the next time you buy something at ANY store and they make a promise?
get it in writing, signed, dated and keep a copy in your files. That way if there’s a dispute.. they have to do something.
in my case a verbal agreement was made with a handshake and evan and the coporate board of directors have decided that is not good enough. I’m out $650.00 for a washing machine I no longer need.
if you continue to rent, they will exchange it for something else and give you a nice credit towards a new purchase. Evan couldn’t make me happy so i’m awarding him the “You did not make me Smile – Idea Girl Consulting AWARD.”
he was made aware of the lies told, the promises made and he can only offer a good discount on a new purchase.
I was promised that i could exchange the full amount paid for the washer (minus taxes and other fees that total over $20 a month for each RENTAL payment) and get a TV, or a dishwasher or freezer if I didn’t need it anymore. This policy only applies if your a current contracted renter for said merchandise. If you buy it out, like I did (savings of over $800) than Evan says – you own it, it’s yours, you cannot return it and we will not credit you for it. He did offer a BIG discount on something new and i turned him down for now….
the main anger is being lied to about several things, which i won’t go into detail…
So if you go into the store, video tape your encounter, post it on youtube and let the world know what rent a center has done about your issues. I see there’s HUNDREDS of complaints – law suits filed against this company for it’s employee’s misconduct.
anyone who wants to invest in a company that allows that kind of behavior to happen in ALL of it’s stores – customer service areas and has to be taken to court, fined and made to publicly apologize (long process) without fixing it before it goes to court – shows you the integrity of the board of directors, the employees and anyone endorsing or associating with this company.
as for the stock market, rent a center’s shares are going to fall down to around $3.00 a share – this is a future prediction – it’s called Karma
with 537 complaints listed on one blog, and hundreds of others on other blogs and news stories – any celebrity in Hollywood endorsing a company that obviously has issues, is more than likely hurting their public image.
Not only will fans question why you would do anything for a company regardless of the monies paid to be a part of them, they will question your own integrity in future business deals and have a lack of trust for you and anyone associated with the company.
If it’s only the money and you do not care that hundreds of people out there are angry, upset and have been seriously harassed by a company that’s been found GUILTY many times over – then any future business people who want to do business with any of you, should think twice.
Public opinion is very pursuasive, especially on twitter, facebook and world wide social networks. I trust this message will be sent out on all social networks that it’s linked too – worldwide and that you will research any company you plan to do business with, take over, buy shares from, or even buy products from – before spending that hard earned money of yours.
On your financial portfolio’s everything is taken into account, especially when doing business deals with your own company. Link to a company that has poor public opinion and it reflects back to you – that is a human trait, it’s a given…
Troy Aikman, the past quarterback of the Dallas Cowboys.
Troy Aikman, the past quarterback of the Dallas Cowboys endorced rent a center in commercials and might have hurt his public image in doing so.
troy aikman television sportscaster fox network joint owner NASCAR Sprint Cup Series Hall of Fame Racing with Cowboys quarterback Roger Staubach – part owner San Diego Padres
Public Image of Rent a Center in San Diego where Padres are for Troy Aikman see list of blog posts here:
Public Image of TNA and Hulk Hogan – doing commercials for Rent a Center might hurt public image because of blog complaints worldwide:
Quote
Total Nonstop Action (TNA) Wrestling[9] is a privately held professional wrestling promotion founded by Jeff Jarrett and Jerry Jarrett. The company broadcasts its events on television and the Internet fifty two weeks a year with over a million weekly viewers on its primary television program, Impact Wrestling on Spike.[10] TNA also gains revenue from live events, product licensing, and direct product sales. In 2002, Panda Energy International and its head executive, Robert Carter, purchased a controlling share (71%) in TNA from Co-Founder Jerry Jarrett.[11] In 2009, Carter and Panda Energy acquired the rest of TNA (28%) from its Vice-President and Co-Founder, Jeff Jarrett, placing Carter as Owner and Chairman of TNA.[12] Carter’s daughter, Dixie, is President of the company.[13]
TNA headquarters is located in Nashville, Tennessee; its operating company TNA Entertainment, LLC. operates out of Universal Studios Florida in Orlando, Florida. The company previously bore the name “NWA Total Nonstop Action” as, at the time of its formation, it was a member of the National Wrestling Alliance (NWA). TNA was granted exclusive rights to both the NWA World Heavyweight Championship and the NWA World Tag Team Championship. TNA abdicated from the NWA in 2004, but was permitted to continue to use the championships until the NWA abrogated their contract agreement with TNA in May 2007, after which TNA created its own championship titles.[14]
source
http://en.wikipedia.org/wiki/Total_Nonstop_Action_Wrestling
my hubby loves TNA he watches it every thursday, both of us love Hulk Hogan he’s one of our favorite wrestlers.. (enjoy his other tv shows too) but anyone not happy with rent a center might hold it against anyone who endorses it. This affects tv show, movies, film and other project ratings.
People tend to transfer their dislike for a company if they’ve had major issues with it, onto it’s tv personalities and people on the board, or whoever does business with the company.. it’s a ripple effect.
statistics say the average disgruntled customer tells 10 to 104 people when they are “unhappy” about something. Every facebook average account has 104 followers.
Each wall post you make, goes onto your followers walls. So if they have 500 followers, all those people read the reviews.
Not only does the celebrity suffer public backlash – the disgruntled people – mad at the company will go on facebook and write about how they don’t like them or anyone associated with them.. this hurts public images for celebrities and business persons.
which is why you all will agree that the rent a center stock market shares will fall to $3.00 and many will lose lots of money if it does…
quote
RCII: Stock Quote & Summary Data
$ 35.42 0.54 1.55%
Jul. 25, 2012 10:27 ET Market Open
Update Quotes: On Updates every 7 Seconds.
RCII | Rent-A-Center Inc. | Common Stock | Market : NASDAQ-GS
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Last Sale: $ 35.42
Change Net/%: 0.54 1.55%
Best Bid /Ask: $ 35.38 / $ 35.41
1 Year Target: 43
Today’s High/Low: $ 35.74 / $ 34.17
Share Volume: 129,855
50 Day Avg. Daily Volume 459,853
Previous Close: $ 34.88
52 Week High /Low: $ 39.50 / $ 21.30
Shares Outstanding 59,413,000
Market Value $ 2,104,408,460
P/E Ratio: 11.97
Forward P/E(1y) 11.14
Earnings Per Share (EPS) $ 2.96
Annualized dividend $ 0.64
Ex Dividend Date Jun. 28, 2012
Dividend Payment Date Jul. 25, 2012
Current Yield 1.83 %
Beta 1.01
NASDAQ Official Open Price $ 35.14
Date of Open Price Jul. 25, 2012
NASDAQ Official Close Price $ 34.88
Date of Close Price Jul. 24, 2012
Community Sentiment Not yet rated, rate it now
Intraday Chart
5d | 1m | 6m | 12m | More Charting
Read more: http://www.nasdaq.com/symbol/rcii#ixzz21e5YE535
as you can see it’s gone down from $35.41 to $34.88 and it will continue to decline in the future once the truth comes about how this company treats its customer comes out to the world…
if you have any disputes with the company i suggest to register them on a blog called “the complaints board” or on your social networks.
millions of people will read the social networking sites opinions before buying any products from rent a center.
it’s our duty to inform them of all the products we have trouble with, all the sales lies we’ve been told, promised and not fulfilled.
it’s our duty to protect other’s monies from being spent on a company that fails to deal with a customer issue before it ends up in court.
Grant it, they may have changed their policies. But after having EVAN YELLING at me on the phone (he’s very quick fused, please SHARE those stories as well on the complaints board) others can join with you.
If you decide you need a lawyer – the complaints board can put a group of people together and form a law suit for you. (according to their site that’s what seems to happen on there.)
the main reason for this blog post is that I told the corporate board of directors what would happen if they didn’t keep their sale’s girls word.
I keep my promises, I’m sharing this with you all. I am concerned about Hulk Hogan and Troy Aikman – Dudes I’m a social networking queen fully connected worldwide with Australia, UK, Asia, Europe, North, South America and outer space – Being associated with this company and doing commercials – get your agents on the phone and have them check out this research – find out from your fans if i’m right they will tell you…..
I’ve written to warn you and to keep a promise made to EVAN, the managers of the Rent a Center in Hamilton, St Catharines and the Board of Directors that were emailed about this.
To rac.board@rentacenter.com
Hi
This message is for your corporate office as it will affect further investments with your company and fluctuate your stocks on the market around the World. (Prediction sent 24 July 2012)
Evan called several hours later (which is good) the conversation didn’t go so well. He basically YELLED at me the whole time about company policies and was very sarcastic and obnoxious on the phone. I told him I’m going to blog my story and I’m going to keep my promise from the email sent. He said go ahead. Since it’s a customer service call it should have been taped, I hope corporate takes time to listen to it. Your main manager has ahem.. poor people skills – i’m a 25 year veteran in customer service and I would NEVER handle an irate call like that. In fact, if Eric was in a call center – his attitude and tone of voice (yelling) would get him a serious reprimand or fired..
I suggest you deal with it – because it will do your company more damage than good – that’s not only a prediction it’s a promise based on dealing with millions of customers for the past twenty five years and still currently working with the public in entertainment TV shows Films Celebrity and web TV people – (I used to handle about 7000 calls a day at one time – rogers and Comcast cable phone internet – need i say anything more…)
File your complaints here and have some peace knowing they are listening:
http://www.complaintsboard.com/
for fans and people reading this blog if you AGREE that any celebrity doing a commercial for a company that has hundreds of customers complaints and lawsuits against it.
if it affects the public image of a celebrity TWEET FACEBOOk and social network your opinions
For TV shows, Commercials and other “entertainment” people – this would make a GREAT debate show on TV..
“Does a RETAIL stores reputation affect a celebrity that endorses it?”
I think the public would LOVE to debate this one and they will — worldwide!
Translation for this blog – use google translate it’s awesome!
Google’s Links to all complaints online about rent a center worldwide…
Voice your opinions on twitter let your celebrities know if it DID affect you in any way:
Celebrity Public Images are they hurt by companies they endorse if it has hundreds of complaints and lawsuits against it voice your opinions @HulkHogan @TroyAikman @FoxNews @AC360
foxnews-avatar_reasonably_small twitter @FOXNews Troy Aikman – rent a center public image debate 25 july 2012
TWITTER_AC360_profile_image_reasonably_small celebrity public image is it hurt by a retail companies bad reputation with its customers 25 july 2012 join the debate
updated 26 july 2012 at 1130 am edt
RCII Stock News
http://www.thestreet.com/story/11635077/1/rent-a-center-inc-reports-second-quarter-2012-results.html
quote
Rent-to-Own Firms May Attract Watchdog’s Gaze
By CHARLES GABRIEL | MAY 11, 2012 | 12:30 PM EDT |
inShare
Stock quotes in this article: RCII, BBY
“Wall Street’s short-selling community is pointing to the rent-to-own industry — companies that rent products to consumers with an option to buy — as a candidate for scrutiny by the Consumer Financial Protection Bureau.
However, the bureau’s director, Richard Cordray, may have a political imperative from President Obama to first target other industries, such as subprime mortgages, private student loans, payday loans, money transfers, debt collectors, credit bureaus and prepaid debit cards.
Investors’ behind-the-scenes efforts to persuade the new agency to challenge the RTO industry pit hedge funds’ sharpened public-policy instincts against the reality of the CFPB’s resource constraints. And the new agency must choose its initial fights carefully, partly because Cordray was given a recess appointment, and critics will be watching closely for signs of overreach. The CFPB has to be sure it can win any lawsuits that might test its authority.
As lawyers for the RTO industry point out, the Dodd-Frank Act seemed deliberately written to exclude rent-to-own transactions from the key definition of a “lease.” Nevertheless, the CFPB has rulemaking authority over leasing disclosure forms. And the law carries a broader definition of “credit” than the one contained in the Truth in Lending Act, allowing it to include under the law any other consumer financial products or services, “as may be defined by the Bureau, by regulation.”
In other words, say critics, the CFPB, if it wants, could probably target the rent-to-own industry as the new “subprime finance” for the lower-end customer. However, this would divert the agency from the much clearer election-year story lines of mortgages, student loans and payday loans.”
“Savvy investors raised eyebrows when Rent-A-Center (RCII), the largest publicly traded company in the RTO space, announced a deal whereby it would finance transactions via kiosks at Best Buy (BBY), and then abruptly terminated the arrangement last week.
Critics of the industry note that as many as 80% of RTO transactions via kiosk-based financing go to term, and they scoff at the notion that the contracts reflect anything less than “disguised installment sales” that escape state usury ceilings. One critic says that the companies have done “a masterful job evading the regulatory/legislative headwinds by positioning themselves as retailers versus finance companies.” But the move to kiosk-based sales could substantially raise these RTO companies’ profile and eventually beget consumer complaints and regulatory scrutiny.”
read the rest of the story here:
http://realmoney.thestreet.com/articles/05/11/2012/rent-own-firms-may-attract-watchdogs-gaze?puc=quo
disguised installment sales” that escape state usury ceilings
quote
Ceiling
The highest price, interest rate, or other numerical factor allowable in a financial transaction.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
source:http://financial-dictionary.thefreedictionary.com/Usury+Ceilings
HIGH RISK Company Rating:
quote
Summary: Rent-A-Center Inc.
1742 words — Published Nov 16, 2011
Price $175.00
About This Report
Abstract:
The speculative-grade ratings on Plano, Tex.-based Rent-A-Center Inc. reflect Standard&Poor’s Ratings Services’ analysis that the company remains vulnerable to potentially increasing consumer finance protection regulations and that it is dependent on new-store and distribution-channel expansion for growth. This helps support our business risk profile assessment of fair. Credit measures continue to improve, but remain indicative of a significant financial risk profile. We view the company’s financial risk policies to be moderate. Significant debt reduction has occurred since 2006, though the rate of debt reduction has slowed since 2009. Quarterly share repurchase activity has been elevated since the third quarter of 2010. The company also instituted a regular cash dividend during the third quarter of 2010. Starting in the
Brief Excerpt:
RESEARCH Ratings Definitions PDF Summary: Rent-A-Center Inc. Publication date: 16-Nov-2011 Primary Credit Analyst: Brian Milligan, Chicago 312-233-7050; brian_milligan@standardandpoors.com Secondary Contact: Charles Pinson-Rose,…
Report Type:
Summary
Ticker
RCII
Issuer
Rent-A-Center Inc.
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Free Sample:
Click Here to Download
Format:
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quote:
S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
source:http://www.alacrastore.com/research/s-and-p-credit-research-Summary_Rent_A_Center_Inc-914560
quote
Rent-A-Center accused of harassing, taking advantage of customers
By Mitch Lipka
Posted 12:00PM 07/27/09
Posted under: Ripoffs and Scams, Consumer Complaints, Buyer Beware, Retail, Consumer Ally
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2
5
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1
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Accusing Rent-A-Center of using collection tactics and charging fees just this side of a loan shark, Washington state is asking a judge to declare the practices illegal and halt them.
digg
The allegations are another black eye to the business of renting furniture, electronics and appliances to those who can’t otherwise get credit or afford to buy at a regular store.
Instead, those who go to Rent-A-Center and its competitors can get items for what might seem to be an affordable payment that ends up costing them many times the actual price.
quote
Washington state Attorney General Rob McKenna is taking Rent-A-Center to court to try to get the company’s collection tactics and rental contracts declared illegal. McKenna asserts Rent-A-Center goes after those who owe with a vengeance — coming to their homes, threatening customers, their children and harassing relatives and neighbors.
“While companies certainly have the right to collect on outstanding debts, state law, along with the most basic standards of common courtesy, dictate how companies may collect on those debts,” McKenna said in a statement. “Attempting to kick doors down, calling the debtor’s friends and relatives, and scaring their children aren’t included in those basic standards.”
California won a $7 million judgment against Rent-A-Center in 2006 over its price disclosure policies. The company settled a class-action case in New Jersey for $109 million after being accused of charging interest in excess of what state law permits.
quote
The state accused Texas-based Rent-A-Center, which has more than 3,000 stores nationwide, of using abusive language and profanity in its collection efforts — including referred to customers as “ghetto trash,” “deadbeat,” and “thief,” among others.
Washington officials said Rent-A-Center employees have demanded money from babysitters and others when the customer isn’t home, pounded on doors, peered through windows and told children their parents would be thrown in jail if they don’t pay up. When challenged by consumers that what they’re doing is illegal, Washington officials said Rent-A-Center employees have responded that collection laws that forbid such harassment don’t apply to them.
“Because of a loophole in state and federal laws that apply to debt collection, Rent-A-Center employees believe they can use harassing tactics to collect from renters who are late on their payments.” Assistant Attorney General Jim Sugarman said.
Rent-A-Center is due to report its second-quarter earnings on Tuesday.
source read more
http://www.dailyfinance.com/2009/07/27/rent-a-center-accused-of-harassing-taking-advantage-of-customer/
EBITDA (/iːbɪtˈdɑː/,[1] /əˈbɪtdɑː/,[2]) or /ˈɛbɪtdɑː/[3] is an acronym for earnings before interest, taxes, depreciation, and amortization[4].
source: wiki
quotes on how much DEBT RCII is responsible for and when it’s DUE.. if they cannot pay their ratings will be affected.
Rating Action: Moody’s rates Rent-A-Center’s unsecured notes at Ba3; Upgrades PDR to Ba2
Global Credit Research – 28 Oct 2010
New York, October 28, 2010 — Moody’s Investors Service today assigned a Ba3 rating to Rent-a-Center, Inc.’s (RCII), proposed $300 million guaranteed senior unsecured notes due 2020. In addition, Moody’s upgraded the company’s Probability of Default Rating to Ba2 from Ba3. Moody’s also affirmed the company’s Ba2 Corporate Family Rating and Ba1 senior secured bank facility ratings. The outlook is stable.
RATINGS RATIONALE
Proceeds from the proposed $300 million senior unsecured note offering will be used to repay approximately $200 million of senior secured bank debt, while the remaining net proceeds will be used to repurchase shares of the company’s common stock.
Rating assigned;
$300 million guaranteed senior unsecured notes due 2020 rated Ba3 (LGD 5, 79%)
Rating upgraded ;
Probability of Default Rating to Ba2 from Ba3
Ratings affirmed are;
Corporate Family Rating at Ba2
$350 million guaranteed senior secured revolver, due 9/30/2013, rated Ba1 (LGD 2, 25%)
$82.5 million guaranteed senior secured term loan A, due 6/20/2011, rated Ba1 (LGD 2, 25%)
$82.5 million guaranteed senior secured term loan A, due 9/30/2013, rated Ba1 (LGD 2, 25%)
$184 million guaranteed senior secured term loan B, due 6/30/2012, rated Ba1 (LGD 2, 25%)
$300 million guaranteed senior secured term loan B, due 3/31/2015, rated Ba1 (LGD 2, 25%)
The outlook is stable
that’s moody’s opinions – source http://www.moodys.com/research/Moodys-rates-Rent-A-Centers-unsecured-notes-at-Ba3-Upgrades–PR_207730
loans due in 2012 to 2013
$350 million + $82.5 million + $184 million = $ 616.5 million in DEBT due 2012 and 2013?
look at the pattern, exact amount owed is RE borrowed for another 2 year time period..
$350 million guaranteed senior secured revolver, due 9/30/2013, rated Ba1 (LGD 2, 25%)
$300 million guaranteed senior secured term loan B, due 3/31/2015, rated Ba1 (LGD 2, 25%)
$82.5 million guaranteed senior secured term loan A, due 6/20/2011, rated Ba1 (LGD 2, 25%)
$82.5 million guaranteed senior secured term loan A, due 9/30/2013, rated Ba1 (LGD 2, 25%)
is that part of the monies reported as the revenue?
not sure you be the judge…
$749.7 million is the reported “revenue” on 23 July 2012 for the quarter ended June 30, 2012.
quote:
July 23, 2012 04:17 PM Eastern Daylight Time
Rent-A-Center, Inc. Reports Second Quarter 2012 Results
Total Revenues Increased 7.4%
Same Store Sales Increased 2.8%
Diluted Earnings per Share of $0.74
Repurchased Approximately 489,000 Shares of Common Stock
PLANO, Texas–(BUSINESS WIRE)–Rent-A-Center, Inc. (the “Company”) (NASDAQ/NGS: RCII), the nation’s largest rent-to-own operator, today announced revenues and earnings for the quarter ended June 30, 2012.
“We are generally pleased with our results in the quarter, as total revenues increased over 7% and earnings per share increased close to 9%”
Second Quarter 2012 Results
Total revenues for the quarter ended June 30, 2012, were $749.7 million, an increase of $51.4 million from total revenues of $698.3 million for the same period in the prior year. This 7.4% increase in total revenues was primarily due to growth in the RAC Acceptance segment. Same store sales for the quarter ended June 30, 2012, increased 2.8%.
Net earnings and net earnings per diluted share for the three months ended June 30, 2012, were $44.2 million and $0.74, respectively, as compared to $39.9 million and $0.63, respectively, for the same period in the prior year. Net earnings and net earnings per diluted share for the three months ended June 30, 2011, were reduced by $4.9 million, and approximately $0.05 per share, respectively, due to a pre-tax restructuring charge related to the acquisition of The Rental Store, Inc., as discussed below.
doing some math
millions 184 (due 2012) 82.5 (due 2013) 350 (due 2013) 300 (due 2015) all monies in company as of June 30 2012 this totals $916.50 million dollars of (DEBT)
take the $916.5 million – 184 million due 30th june 2012 (was this reported in the “revenues” as a loan paid or as revenue then they made the payment after preparing their financial records? you’d have to check that I have no idea… all this is from the moody report from 2010.)
916.5 -184 = 732.5 million dollars (DEBT)
44.2 million reports as (“income”) = 776.70 million
7 million is “surplus” after expenses, taxes, loan payments? = 44.2-7 = 37.2 million (paid out for debts)
actual debts would be 37.2 million + 184 million = 221.20 million dollars was paid out.
916.5 -221.2 =695.3 million dollars
695.3 million (debt) + 7 million surplus = 702.3 million (DEBT)
$749.7 reported revenue – 702.3 million (UNSECURED DEBT) = 47.4 (revenue that isn’t DEBT)
1.585 billion revenues for six months – 916.5 million (DEBT for 2012 – 2015 as of 2010 Moody report,possibly more loans were taken out in 2012 (company pattern is every 2 years) = 83,500,000 – 83 million 500 thousand after debts
so the company is actually worth 83 million 500 thousand and the report is 7 million surplus this quarter for july 2012..
not sure of the numbers here, but just looking at current facts..
47.4 (amount after debts are paid in full) – 44.2 revenue (to reduce debts, payments etc) = 3.2 million cash flow
quote:
To date, the Company has repurchased a total of 29,811,484 shares and has utilized approximately $732.0 million of the $800.0 million authorized by its Board of Directors since the inception of the plan. Also, reflecting continued confidence in its strong cash flows by returning cash to stockholders, the Company will pay its ninth consecutive quarterly cash dividend on July 25, 2012.
29,811,484 – company purchased shares
there are a lot of numbers here I haven’t looked at yet..
http://www.businesswire.com/news/home/20120723006394/en/Rent-A-Center-Reports-Quarter-2012-Results
it takes one thousand millions to make a billion.
1,000,000,000 is the numeral for 1 billion.
quote
Total revenues for the six months ended June 30, 2012, were $1.585 billion, an increase of $145.0 million from total revenues of $1.440 billion for the same period in the prior year. This 10.1% increase in total revenues was primarily due to growth in the RAC Acceptance segment as well as growth in the Core U.S. segment. Same store sales for the six months ended June 30, 2012, increased 4.5%.
upon further investigation on moody’s report for 2011 you are NOT going to believe this..
more loans…
quotes
Rent-A-Center announced on June 21, 2011 its intention to refinance its existing senior secured debt by entering into a new $750 million secured credit facility that will consist of a $250 million term loan and $500 million revolving credit facility (the facilities will not be rated by Moody’s). The company intends to repay its existing secured term debt, currently about $358 million outstanding, using proceeds from the new term loan and drawing approximately $108 million on the revolving credit facility. This transaction is intended to lower the company’s cost of capital and extend its debt maturities. Upon closing of the transaction, the ratings on the existing credit facilities will be withdrawn.
Ratings affirmed are:
- Corporate Family Rating at Ba2
- Probability of Default Rating at Ba2
- $300 million guaranteed senior unsecured notes due 2020 at Ba3 (LGD 5, 79%)
Ratings affirmed, to be withdrawn upon completion of the refinancing transaction:
- Senior secured revolver, due 9/30/2013, rated Ba1 (LGD 2, 25%)
- Senior secured term loan A, due 9/30/2013, rated Ba1 (LGD 2, 25%)
- Senior secured term loan B, due 6/30/2012, rated Ba1 (LGD 2, 25%)
- Senior secured term loan B, due 3/31/2015, rated Ba1 (LGD 2, 25%)
quote source – http://www.moodys.com/research/Moodys-revises-Rent-A-Centers-outlook-to-positive–PR_221627
first they borrowed 916 million now they borrowed 750 million
916 million + 750 million = one billion six hundred sixty-six million
1.666 billion
1.585 billion
= 81 million
looked up revolving credit facility
quote
Revolving Credit Facility (RCF)
This is a flexible loan available to Corporate Clients that has been designed so clients can repay their loan balance to zero but still have the facility available to borrow again. This facility is useful for clients who may not want to use a loan facility at all times but appreciate the peace of mind given by the knowledge the agreed limit will be available.
Benefits
Linked to LIBOR so customers receive market rate
Available in all major currencies
Term commitment given by the bank ensuring that client funding needs are met
Flexible funding: No prepayment fees, so can be repaid immediately
Available for larger amounts than available through the Overdraft product
Additional Information
Minimum loan size of £2million
To find out more about how much you can borrow** and the full terms and conditions, talk to your Relationship point of contact.
ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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