If a Company Won’t Talk, Its Former Employees Will SEPT. 13, 2014By DAVID SEGAL
We were attracted to this beaten up home electronics retailer after it fell from $45 to $30 and insider’s stepped up to buy.
This article from the NY Times although kind of sad to hear how some money people with poor credit get the raw end, but does nothing to dispel our believe in the merits of the investment. Pawn shops and subprime lenders can be very profitable. Conn’s looks like it’s combined a new niche of home furnishings, electronics, call it an RC Wiley type of experience with people that can’t get credit elsewhere. That may seem like a dumb proposition but when you are making 25% of the credit card loans and selling credit insurance to boot, it might just work. At least the insider’s at the company think so.
The Haggler has striven in recent months to get someone at Conn’s, a Texas-based chain that sells appliances and furniture, on the phone. But as regular readers know, the company will not discuss a complaint from an unhappy customer named Grace Bunmi Salako Smith, who last year bought a computer and a refrigerator from the company and disputes the $751 in interest that Conn’s says she now owes.
via If a Company Won’t Talk, Its Former Employees Will – NYTimes.com.