For the last six months is an idiot...you have been doing alot of talking while the stock has been....ZZZZZZZZZZZZZZZ......ZZZZZZZZZZZZZZZZZZZZZZZ....ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ......ZZZZZZZZZZZZZZZZZZZZZZZ...Did you guys see the chart....its an Alabama Slammer...MONSKI ....You DODO BIRD...Shoot I think Im gunna get me a beer an kik back an watch dem Crimson Tide get dere holes opened wide...Like dis dogmeet stock..
I assume it would be wired directly into the customer's bank account. The PRA business is based on checking accounts. In any event, that's what the other internet lenders are doing. I think that the Western Union idea has some merit. Take for example if a customer takes out a loan and they are given a list of the closest offices where they can pick up their money, and that list of offices would be of course owned by the company who provided the loan in the first place. They will pay a $ amount for the loan and a seperate $ amount for the Western Union service. Interesting, huh? I am pretty sure there has to be some regulation in place to prevent that....thought provoking in any case.
Firstcashlong - I'm not sure how people would get the money - would it be available via Western Union Wire, or at a local bank? If they had a checking account (many people may not) it could be deposited into their account. Actually, there are times I could have used this to have my pay come in a week early. The more I think about it, the better I like it. This service may expand the traditional Pawn Shop customer base.
you're exactly right. Management at FCFS seems to be willing to pursue profitable opportunities outside of the pawn business. IMO, the most exciting of these are the internet sales, payday advances, and Mexico. Something you may not have thought of would be putting PRA loans in pawn stores, which as my previous posts suggest could be extremely profitable. Here's another one: don't stop with internet merchandise sales. I believe they could do the payday advance loans on the internet as well. I found a couple of other sites doing this now, but no advertising. This is the type of venture that could be incredibly profitable, and very interesting to investors. Could you imagine getting a multiple on FCFS earnings in the neighborhood of an EBAY or AMZN. You could really, legitimately be talking about a $50 or $100 stock price.
Just bought some FCFS because of their internet site - have been a long time PWN (Cash America) investor and bailed out because of their backward thinking management. FCFS is a great buy even without the internet - a PE of 14 and great growth rate. Getting in at 10 near the 52 week low seems like a great bargain.