UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
February 29, 2000 (February 28, 2000)
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Date of Report (Date of earliest event reported)
Rent-Way, Inc.
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(Exact name of registrant as specified in its charter)
Pennsylvania 000-22026 25-1407782
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(State or other jurisdiction (Commission File Number) (IRS Employer
of corporation) Identification No.)
One RentWay Place, Erie, Pennsylvania 16505
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(Address of principal executive offices) Zip Code
Registrant's telephone number, including area code: (814) 455-5378
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Item 5. Other Events
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The registrant issued the following press release on February 28, 2000:
ERIE, PA. -- Rent-Way, Inc. (NYSE: RWY) announced today the company will
strengthen and augment its computer sales training by providing all store and
regional managers with a state-of-the-art personal computer for home use at the
nominal cost of $3.00 per pay check. The announcement was made last week by
William E. Morgenstern, Chairman and Chief Executive Officer, at the company's
Annual Conference held in Orlando, Florida with over 1600 in attendance.
"Training and supporting our people to keep up with the ever-changing world of
technology is a critical component to our aggressive computer rental plans",
said Mr. Morgenstern.
Rent-Way will require the employees to update the products they use in
their homes continuously. "We want our team to have the best technology in their
homes so they are current on the features, advantages and benefits of what we
offer our customers," said Mr. Morgenstern. Currently, Rent-Way rents Compaq
brand computers in its stores. However, Rent-Way is negotiating a program with
Dell and expect to have the full details of the employee program communicated to
the field by the end of March.
"Our commitment to building a world class operation through an intense
focus on people development demands this kind of creative and supportive
approach," said Jeffrey Conway, President and Chief Operating Officer. "I think
it is great that we are in the position to do something that is a powerful
win-win for our managers, their families and our customers."
Rent-Way is the second-largest operator of rental-purchase stores in the
USA. Rent-Way rents quality, brand name merchandise such as home entertainment
equipment, furniture and major appliances through 1088 stores operating in 41
states.
For more information, contact: William E. Morgenstern, CEO
(800)736-8929 or visit www.rentway.com
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Rent-Way, Inc.
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(Registrant)
Date February 29, 2000 /s/ William A. McDonnell
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(Signature)
William A. McDonnell
Chief Financial Officer
Date February 29, 2000 /s/ Matthew J. Marini
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(Signature)
Matthew J. Marini
Controller and Chief Accounting Officer
