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Cash America International, Inc. Message Board

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  • Today's announced alliance with a Virginia bank
    is another indication that the route Mr. Payroll is
    going to go will be joint ventures (such as Wells
    Fargo) and alliances in which some of the costs (and
    profits) are shared. This is probably the most cautious
    and prudent way to go. I think it is a good
    indication that new banks and companies are signing on to
    this project. I still can't believe that there isn't
    more (or any) competition in this type of machine -
    isn't Diebold or someone going to get into the act?

    • I agree that alliances are a more likely strategy
      than a spinoff.

      I caution everyone not to get
      too excited about the Crestar announcement. Crestar
      is being acquired by SunTrust. SunTrust may be the
      most conservative bank in the world; and, they almost
      exclusively target the affluent. I can't imagine them
      a big investment in a check cashing machine
      for the "unbanked."

    • If you review the news releases from a few months
      back, you will notice that things began to happen with
      Mr. Payroll just after the announcement of Dan
      Fehan's move from President of Cash America to Co-CEO of
      Mr. Payroll. Coincidence? I think not.

      Fehan went to CA they were a 150 shop national chain.
      They currently have approx. 475 shops worldwide.

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