Take a look into any store, Check their extensions. All stores are told to use extensions to show a 3.5 for Friday and their 6.9 for Saturday. Some stores and districts are running 10% or more in extensions. Why do you think the percent collected is so low? Attention investors! The cover up isn't on the balance sheet kept at the Main Office, it is done at the stores.
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The last post was written very well, there are only a hand full of vps and rds at rac that can write that good. Many don't know how or remember how to turn a profit and that is the real problem. My rd only cared about looking good on paper and never really spent(he is still the rd)any quality time in his stores, they are a mess with a bunch of cheatin going on. That scenario is playing out across the entire Company, sad because 20 years ago rac was a great place to work.
It's sad to read these reviews from frustrated employees suffering from a lack of training and management. The franchise model allows a bit of flexibility with regard to pricing and promotions but even that is being slowly taken away by corporate and their desire to implement their will. The business model itself is sound and can be worked to the satisfaction of workers and customers alike but not under week management. With years of experience in the industry I can attest that quite a few are not adverse to manipulating metrics, it's a shame however, when executed properly it really can be an all around great organization that serves customers and produces profit.
There is no way to fix that broken credit, unless you change how things are done. Not everyone can afford or should get more than 1 acct. What happened to making sure the customer can afford to pay for what they are getting? Do you remember what that was called? RAC is full of old timers that apparently have no clue how to fix things. M.S. could fix it but he was pushed out. I feel sorry for those stuck at the dead end RAC job, if you act now you can find a better place work. Nobody ever says I wish I could have worked more and stressed more or hit a 5.9 or whatever it is? You feel me?
I work for this place collections is crazy out of hand no one is paying and they hide when u go to the door look all across the board every store looks bad should have not had a sale every other week while all these people where on unemployment all I have to say there like how are u going to get credit down I said by the grace of God someone opens their door otherwise what u want me to do can't control their money can't control them opening the door or even picking up the phone .place is so unrealistic the 17 I was hired at ain't worth the aggravation only been there short time and place is crazy actually already looking for a new job they can go get there sh-t back and see what it's like out there
Rac only delayed the inevitable when they weaseled out of the buyout with Vintage. Really what changed at rac to warrant the current stock price? Those of you working at rac and on this board should know the answer.
Glad I did some research about rac was looking to invest but nevermind ..
They need to do 1 sale a month not every other week it's confusing the customers and the amount of sales calls and texts is pi----g people off what gets me is over half the sales calls are past due people they can't afford what they got ..and lower the damn prices least a little people will call sometimes ask how much you tell them they hang up on you go to every other place has 1 low monthly payment even walmart is getting into it this business model is bad really bad not only passing people off but losing customer by the boat load when I say it's smoke and mirrors it really is and no one wants auto pay so stop forcing it down people throats I love it when they say u need to be retrained on auto pay RETRAINED they say no they say no can't go in their wallet and take their card and put it on auto pay
The way it sounds rent a center ain't a good buy with everything I see on this page more
The extension is backed off on Monday, dm or rd or vp do not review rec audit trail. That is how the number is manipulated, there is another way too but cant be mentioned here.