Yes, the big tech news this week was Apple’s announcement that Steve Jobs officially stepped down as CEO, but given Jobs’ persistently poor health, we all knew that, sooner or later, he would have no choice but to resign. Rather than adding to the Jobs-resignation echo chamber, let’s focus instead on some news that’s likely more immediately relevant to small business owners; Best Buy’s pilot program with Rent-A-Center.
Essentially, Best Buy will begin incorporating Rent-A-Center kiosks into its brick-and-mortar stores; if customers are unable to get credit approval for that new flat-screen television—or, perhaps, if they just want to outfit a temporary domicile with some high-tech accessories—they’ll be able to purchase the device, sans credit check or down payment, from the RAC kiosk. Though Best Buy and Rent-A-Center have been fairly tight-lipped on the specifics of the deal, it’s believed that RAC will actually purchase the products from Best Buy, and then sell them to the consumer (who, if they keep the product until it’s paid off in full, will end up paying RAC two-to-six times more than Best Buy’s retail price). Read More