Advance America Closing 103 Centers
Published at: money.cnn.com
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Advance America is acting like a copy that is about to go private.
September 24, 2007
Advance America has done little to improve store operating performance over the last several years. The Oregon law change and the Pennsylvania aside, Advance America seem s to be determined to watch their stock value slip into oblivion. While every other payday loan provider is adding new products/services (debit cards, auto equity loans, installment loans, et al) Advance America is doing nothing. One can only wonder why. George johnson, Chairman, is one of the most astute business men in Amercia. He has accumulated a fortune from his activity waste management, Blocbuster Video, Extended Stay America and Advance Amercia. It is not his nature to stand idle while his investment shrinks. The only reason must be; Waiting for the stock to hot bottom, then lead a management buy-out. Then do all the right things to pay down acquisition debt and position the company for a reentry to the public market or a sale to a large bank.
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