Archive for February, 2012

The Cash Store Australia Holdings Inc. reports second quarter results for the …

Wednesday, February 22nd, 2012

EDMONTON, Feb. 16, 2012 /CNW/ – The Cash Store Australia Holdings Inc.
(Cash Store Australia) (TSXV:AUC) today announced results for the
three and six months ended December 31, 2011.

Highlights for the second quarter (a table of results can be found at
the end of this news release):

  • Revenue up 28.7% to $5.0 million, from $3.9 million for the same quarter
    last year.

  • Net loss of ($1.5 million) down from ($1.6 million) in the second
    quarter of last year.

  • Branch operating loss decreased to ($186,000) from ($265,000) for the
    same quarter of last year.

  • Diluted loss per share of ($0.09) down from ($0.10) in the same quarter
    last year.

  • Same branch revenues for the 62 locations open since the beginning of
    the second quarter of fiscal 2011 up 21.5% to $67,600 from $55,600 in
    the second quarter last year.

  • Negative EBITDA of ($1.3 million) down from ($1.4 million) in the same
    quarter last year.

  • Non-cash impairment of property and equipment of $149,000 compared to
    $248,000 for the same quarter last year

Highlights for the six months ended December 31, 2011

  • Revenue up 31.7% to $9.7 million, from $7.3 million for the same period
    last year.

  • Net loss of ($3.0 million) compared to a loss of ($2.7 million) for the
    same period last year.

  • Branch operating loss decreased to ($332,000) from ($659,000) for the
    same period last year.

  • Diluted loss per share of ($0.18), compared to a diluted loss per share
    of ($0.16) for period last year.

  • Same branch revenues for the 60 locations open since the beginning of
    the first quarter of fiscal 2011 up 1.4% to $65,500 from $64,500 in the
    same period last year.

  • Negative EBITDA of ($2.5 million), up from ($2.2 million) in the same
    period last year.

  • Non-cash impairment of property and equipment of $450,000 compared to
    $279,000 for the same period last year.

Chairman of the Board Gordon Reykdal said: Cash Store Australias
revenues increased while net losses were reduced as compared to the
same quarter last year. Management has initiated a comprehensive review
of operations involving individual branch performance reviews and a
complete review of collections procedures and underwriting processes.
During this time, no new branch openings are being contemplated and
consolidations or closures will occur when warranted.#xA0; Cash Store
Australia is an early stage business. We remain confident that consumer
demand for our products and services is sufficient to support a
profitable business and management remains focussed on moving to
profitability in an orderly fashion.

About Cash Store Australia
Cash Store Australia is the only payday advance broker in Australia
publicly traded on the TSX Venture Exchange (TSXV:AUC). Cash Store Australia operates 81 payday advance branches in the States
of Victoria, Queensland, Tasmania, Northern Territory, and New South
Wales Australia under the banner The Cash Store.

Cash Store Australia acts as a broker to facilitate payday advance
services to income-earning consumers who may not be able to obtain them
from traditional financial institutions.

Summary Financial Information

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Tuesday, February 21st, 2012

Dallas, TX — (SBWIRE) — 02/10/2012 — Most of the people are dependent on their living from paycheck to paycheck. A reason may be that an individual is not very financially sound. Despite of working for extra hours, one is not able to garb money that is sufficient to fulfill even the basic needs till the next paycheck. To add on to this, emergency can prevail anytime whether it is medical bills or car repair expenses. has introduced cash loans to meet such requirements.

An individual with a poor credit history often goes to the local bank to seek help. Bank may or may not provide loan on the basis of bad credit report. has introduced bad credit loans to put the borrower at ease. Bank adheres to many rules and regulation. The process of applying for loan and sanctioning loan is lengthy and cumbersome. One of the experts of the website said, “We are not a bank, but that works to your advantage. Your payday loans will be handled by one of the best lending institutions we can pair you up with in your state. We work as an unbiased middleman, and if any lender doesn’t meet and maintain our strict set of standards, then we won’t send you (or anybody else) to them for a loan.”

One is sometimes unable to get quick cash loans at the time of emergency. On the other hand seeking help from friends and relatives can be extremely embarrassing. Hence payday advance through has proved to be extremely beneficial to one who is in dire need of money. “We serve as your financial matchmaker, pairing you with the perfect lender for your individual and unique payday loan needs,” an article on the company’s website explained.

About provides nominal rate of interest and the fees on the loan is very low as well. In addition the service rendered is quick and efficient. Customer satisfaction is the ultimate goal of Payday Loan Solutions is an online financial matchmaker, pairing up clients who are short on cash with lenders in their state who can help them get a quick loan to tide them over until the next paycheck arrives. The application process can be completed online and is safe and secure. No credit check is required, and most people get their money very quickly, sometimes within minutes. For more information, please visit

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GPS tracked suspect’s car

Tuesday, February 21st, 2012

A 35-YEAR-OLD Howrah man accused of stealing $30,000 from a Bellerive money-lender last year had a tracking device fitted to his car at the time of the crime, a court heard yesterday.

Damian Gordon Deeks has pleaded not guilty to burglary and stealing charges arising from the April raid.

The prosecution alleges Mr Deeks forced entry to cash loan provider Money3 after hours, then crawled into the office containing the safe to avoid setting off the motion-sensing alarm.

Crown prosecutor Patrick Dixon yesterday told jurors in the Supreme Court in Hobart the burglar then moved the 200kg safe into the staff kitchen and spent up to a couple of hours trying to prise the door off.

When he did so, Mr Dixon said, he grabbed $30,000 in notes and took off, leaving bags of coins behind.

The crime was only discovered the next morning.

Money3 area manager Paul Direen said the back of the office looked like a bomb had hit the place.

The case against Mr Deeks is entirely circumstantial.

But Mr Dixon said there was enough evidence for jurors to find it was indeed Mr Deeks who made off with the haul of cash.

The prosecution is relying on technology to back up its allegations, including several sections of CC-TV footage inside the Money3 office and outside the nearby McDonalds restaurant.

Mr Dixon also said police had attached a GPS tracking device to Mr Deeks vehicle some time before the crime.

The device allegedly showed the accuseds blue Ford Falcon was parked near Money3 while the crime was committed.

The trial continues on Tuesday.

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Law Office of Brodsky & Smith, LLC Announces Investigation of Advance America …

Monday, February 20th, 2012

BALA CYNWYD, Pa., Feb. 16, 2012 /PRNewswire via COMTEX/ —
Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Advance America, Cash Advance Centers, Inc. (“Advance America” or the “Company”)

/quotes/zigman/354455/quotes/nls/aea AEA

relating to the proposed acquisition by Grupo Elektra, S.A.B. de C. V. (“Grupo”).

Under the terms of the transaction, Advance America shareholders would receive $10.50 in cash for each share of Advance America stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Advance America for not acting in the Company’s shareholders’ best interests in connection with the sale process to Grupo. The transaction may undervalue Advance America as an analyst has set a price target of $11.00 for each Advance America share. In addition, the price being offered represents only a slight premium above the $9.33 Advance America’s stock traded at on December 6, 2011.

If you own shares of Advance America stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at, visiting , or by calling toll free 877-LEGAL-90.

SOURCE Brodsky & Smith, LLC

Copyright (C) 2012 PR Newswire. All rights reserved


Add AEA to portfolio


Advance America Cash Advance Centers Inc.



Volume: 16.51M
Feb. 17, 2012 4:02p

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Gunman, Lookout Man Rob Cedar Rapids Hotel

Monday, February 20th, 2012

CEDAR RAPIDS, Iowa – Two men robbed a Cedar Rapids hotel late Tuesday evening and remain on the loose.

Police were dispatched around 11:45 pm to Days Inn and Suites, 2215 Blairs Ferry Road NE, when the hotel clerk reported the incident. The clerk told police a man with a handgun demanded money. The other man stayed farther back, acting as a lookout, police said.

The men got an undisclosed amount of money and ran east from the hotel, police said. No one was injured.

Sgt. Cristy Hamblin said investigators have requested surveillance footage from the hotel, to see if the suspects were caught on camera. No arrests had been made in the case by midday Wednesday.

Both men were described as black men wearing dark-colored hooded sweat shirts. The gunman stood around 6-foot-1 and 200 pounds, according to a police report.

Police have not solved two other robberies in northern Cedar Rapids in recent months. On Nov. 18, two men robbed Check ‘N Go, 124 Collins Road NE. On Dec. 14, two men held up ChecKing Payday Advance, 600 Blairs Ferry Road NE. While there are some similarities in the three incidents, police have not said publicly if they are connected.

Anyone with information on the crime is asked to call police at (319) 286-5491 or Linn County CrimeStoppers at 1-800-CS-CRIME.

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Monday, February 20th, 2012

/PRNewswire/ –#xA0;During the times of economic instability, small businesses usually suffer the most. Private businesses, unfortunately, are the most vulnerable ones when market fluctuations take place, and, as a result, they are considered to bear high risks when it comes to getting a small business loan from a bank or a private lender. Today, online pawn shops appear to be an ideal solution for small business owners, helping to save thousands of jobs and prevent numerous companies from going bankrupt nation-wide.

While many individuals are struggling today to get small business loans from their local banks, PawnUp.coms online pawn shop is able to lend money regardless of its customers credit history, financial status or proof of income. With the combination of one of the industrys lowest interest rates on loans (only 5%), getting a cash loan for a small business from an online pawn shop became a very popular way to get funds. Many small businesses that were turned down by other lenders are getting cash within days from PawnUp.coms online pawn shop.

PawnUp.coms small business loans have earned their popularity mainly due to the following reasons:

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Storefront Payday Lenders Issue Statement on "Misleading" Reuters Story

Sunday, February 19th, 2012

WASHINGTON, Jan. 19, 2012 /PRNewswire via COMTEX/ —
The following comments can be attributed to D. Lynn DeVault, Board Chair of the Community Financial Services Association of America (CFSA):

“Today’s Reuters story about the payday lending industry is very misleading and sets up a conflict with related industries that simply does not exist. Its emphasis does not reflect the tone and content of the several interviews the reporter conducted with three different industry spokespersons.

“Interviews initiated by the reporter focused on basic questions about the product, the history of the industry and the consequences of restrictions. One of the consequences mentioned by spokespersons was the increased concerns by state officials of ‘unlicensed, offshore’ lenders. The story does not reflect this emphasis and instead accuses us of criticizing online lenders.

“To be clear, CFSA believes that online lending is an important and needed option in the small loan market and many of our member companies are engaged in state regulated online lending. It is an innovative and valuable service for millions of consumers.

“We will continue to point out the differences between highly regulated lenders and those that operate offshore and illegally. We hope reporters will learn the distinctions as well.”

About the Community Financial Services Association of AmericaThe Community Financial Services Association of America (CFSA) is the only national organization dedicated solely to promoting responsible regulation of the payday advance industry and consumer protections through CFSA’s Best Practices. As such, we are committed to working with policymakers, consumer advocates, and CFSA member companies to ensure that the payday advance is a safe and viable credit option for consumers.

SOURCE The Community Financial Services Association of America (CFSA)

Copyright (C) 2012 PR Newswire. All rights reserved

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Advance America, Altra,, Valassis: US Equity Movers

Sunday, February 19th, 2012

Build-A-Bear, Cabela’s, GeoEye, Stifel: U.S. Equity Movers
February 17, 2012, 3:20 AM EST

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By Katia Porzecanski

Feb. 16 (Bloomberg) — Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 4 p.m. in New York.

Advance America Cash Advance Centers Inc. (AEA US) rose the most in the Russell 2000 Index, surging 32 percent to $10.44. The provider of short-term loans to individuals agreed to be bought by Grupo Elektra SAB (ELEKTRA* MM) for $655 million, or $10.50 a share.

Altra Holdings Inc. (AIMC US) slumped 4.6 percent, the most since Nov. 9, to $20.55. The maker of power-train components such as brakes and clutches forecast full-year profit excluding some items of $1.60 a share at most. That trails the average analyst estimate of $1.63 in a Bloomberg survey. Inc. (AMZN US) slid 2.5 percent to $179.93 for the second-biggest retreat in the Standard & Poor’s 500 Index. Morgan Stanley cut its rating for the largest Internet retailer to equal-weight from overweight, meaning the return is expected to be in line with peers over the next 12 to 18 months.

Avis Budget Group Inc. (CAR US) declined 14 percent, the most since February 2010, to $12.58. The U.S. auto-rental chain reported a wider quarterly loss, reflecting costs from acquiring Avis Europe Plc.

Blue Nile Inc. (NILE US) dropped 10 percent, the most since Nov. 9, to $37.52. The online retailer of diamonds and fine jewelry forecast profit in 2012 of no more than 85 cents a share, missing the average analyst estimate of $1.06.

Build-A-Bear Workshop Inc. (BBW US) fell 27 percent to $5.95, the second-biggest retreat in the Russell 2000. The retail chain of make-your-own stuffed animals reported fourth- quarter profit that trailed analysts’ estimates as sales declined.

Cabela’s Inc. (CAB US) gained 14 percent to $32.31, the highest price since June 2004. The maker of hunting, fishing and camping gear reported fourth-quarter earnings of $1.06 a share, excluding some items, beating the average analyst estimate of 99 cents.

Clearwire Corp. (CLWR US) fell 4.7 percent, the most since Jan. 31, to $2.25. The wireless broadband provider reported a wider fourth-quarter loss on higher interest and tax costs and issued a full-year sales forecast of $1.25 billion, trailing analysts’ estimates of $1.36 billion.

GeoEye Inc. (GEOY US) gained 6.5 percent, the most since Dec. 16, to $21.75. The provider of satellite imagery had its rating raised by Raymond James & Associates, which said the threat of “draconian” U.S. federal budget reductions may fade in the next six to 12 months.

Hyperdynamics Corp. (HDY US) plunged 29 percent to $1.44 for the biggest retreat in the Russell 2000 Index. The oil and gas exploration company said its Sabu-1 well off the shore of Guinea reached its planned total depth and an analysis indicates larger volumes of oil were formerly present in reservoirs and may have since leaked out.

Itron Inc. (ITRI US) had the biggest increase in the Russell 1000, gaining 20 percent to $48.23. The maker of utility meters was raised to outperform from neutral by Robert W Baird & Co., meaning the firm expects the shares to beat the U.S. equity market in risk-adjusted total return over the next 12 months. Baird cited fourth-quarter results and the acquisition of Smart Synch to improve technology.

JM Smucker Co. (SJM US) fell the most in the S&P 500, losing 8.4 percent to $71.60. The maker of Folgers coffee reported third-quarter earnings excluding some items of $1.22 a share, missing the average analyst estimate of $1.41.

Leap Wireless International Inc. (LEAP US) rallied 10 percent, the most since Nov. 30, to $9.62. The Wall Street Journal reported that the regional pay-as-you-go wireless provider has been in talks with AT&T Inc. (T US) to sell itself.

Microsoft Corp. (MSFT US) rose 4.1 percent to $31.29, the highest price since April 2010. Standard & Poor’s is likely to increase Microsoft’s weighting in the S&P 500 by about 12 percent later this year because Chairman Bill Gates’s stock sales are increasing the amount of shares available for public trading, Adam Holt, an analyst at Morgan Stanley, wrote in a report today.

NetApp Inc. (NTAP US) rose 7.2 percent to $42.74 for the biggest advance in the S&P 500. The maker of data-storage products said revenue in the third quarter was $1.57 billion, above the average analyst estimate of $1.56 billion. The company said it won a record number of new customers and significantly increased the amount of units shipped.

Stifel Financial Corp. (SF US) jumped 9.9 percent to $39.56, the highest price since July 27. The St. Louis-based financial-services company reported revenue in the fourth- quarter of $356.9 million, beating the average analyst estimate of $341.2 million.

Theravance Inc. (THRX US) advanced 6.6 percent to $19.30, the highest price since Jan. 30. The maker of treatments for respiratory disorders and bacterial infections reported positive topline results from a study of Maba, a drug for chronic obstructive pulmonary disease, according to Ronny Gal, an equity analyst at Sanford C. Bernstein & Co. in New York.

TRW Automotive Holdings Corp. (TRW US) rose 14 percent, the most since August 2009, to $47.43. The world’s biggest supplier of vehicle-safety equipment topped analysts’ profit estimates, boosted by increased auto production in North America and demand for its safety products.

Universal Forest Products Inc. (UFPI US) jumped 13 percent to $36.85, the highest price since April 7. The maker of do-it- yourself lumber products posted fourth-quarter sales of $422 million, beating the average of 2 analyst estimates of $365 million.

Valassis Communications Inc. (VCI US) climbed 15 percent, the most since April 28, to $26.31. The provider of targeted- mail services reported fourth-quarter sales and earnings that beat analysts’ estimates.

–With assistance from Lu Wang, David Wilson and Andrew Theen in New York. Editor: Stephen Kleege

To contact the reporter on this story: Katia Porzecanski in New York at

To contact the editor responsible for this story: Nick Baker at

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Quick Cash Loans Come with High Interest Rates

Saturday, February 18th, 2012

RHINELANDER – During tough financial times, taking out a quick cash advance may seem like a good idea, but hidden fees and interest rates may have you paying double.

Newswatch 12s Jenn Sullivan went undercover and said she was shocked by how easy it was to get approved. All that is required for a cash pay loan is an ID, proof of a bank account, paycheck stub, and a social security card.

All of a sudden youre going to have to take another one out. Then not only are you going to owe this much but youre going to owe this much too, said VP Marketing for Ripco Credit Union Diane Sowinski.

In tough economic times, getting a cash advance seems like an easy out, but the long term affects are not worth the risk.

If you couldnt come up with the $200 this week whats going to change a month from now? said Sowinski.

According to Sowinski, loan reps at banks and credit unions are willing to negotiate with you if you fall behind on payments, but cash advances will charge very high interest rates and theres no law on how much a lender can charge.

Youve got to read the fine print because thats where the term is, said Corrine Michniak, executive director of America Saves.

Michniak is a financial counselor who has dozens of clients that take out cash advances and get bogged down in debt.

She said borrowing from a bank or even using a credit card has a much lower interest rate than receiving a cash loan.

You go to one of those payday loans and that short term interest translates to 500% when you translate it to an annual term, youre paying almost double of what you borrowed, said Michniak.

It will in your best interest to look at the big picture instead of the quick fix, Sowinski advices.

Luckily there are several options to help with debt advice and web sites where you can crunch the numbers of a loan to see exactly how much money youll pay over time.

Corrine Michniak will sit down and discuss budget options at no cost. Call her at (715) 365-2752 Shes happy to help.

Ripco Credit Union in Rhinelander has 2 Budget Counselors on staff to discuss financial options, those meetings are also free.

One web site which will compute how much you will owe over time is

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Online Cash Loans Threaten the Power Of the Banking Sector As Stated by …

Saturday, February 18th, 2012

Online Cash Loans Threaten the Power Of the Banking Sector As Stated by is a website that enables those in need of quick cash to receive an unsecured cash loan from a reputable payday loan company. The process of emergency lending is scaring banks because they no longer have ultimate power when it comes to loaning cash.

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