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The places they go when banks say no
The New York Times    Share   Share on FacebookTwitterShare on LinkedinE-mail article
Just as the credit squeeze has pushed some consumers to unconventional sources of funding like pawnshops and payday lenders, a constriction in traditional bank lending to businesses has benefited companies. Small-business owners say banks routinely reject applications for loans that were readily available just two years ago. In addition, many say the limits on their credit cards have been cut as banks seek to limit their risk amid the economic turmoil. More

Montana community pawnshops thriving during rough economy
KFBB-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
People are finding many different ways to cope with the tough economy. At a time when cash is short, more and more people are turning to pawn shops. Greg Stokes, a Pawn Broker at First National Pawn says "There's no jobs out there and if you do have a job you're holding on to it for dear life. You have 800 people waiting to take your job at any moment." The rough economy is expanding their customer base. Stokes says times are tough, and some people will look for any way to cut corners. He says, you would be surprised who is walking through the door.

Pawnbrokers see upside in item reporting
Rockford Register Star    Share    Share on
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Pawnshops could be fined up to $750 a day if they fail to register with an electronic database to make it easier for police agencies to track any lost or stolen items sold to pawn or secondhand shops. More

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Pawnshop opens in Beijing shopping center
CCTV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Pawnshops, where people can get cash by mortgaging their goods, are usually found in discrete locations along the streets in China. But a new pawnshop is now open in a big shopping center in Beijing.

Cash America quarterly profit exceeds expectations
The Fort Worth Business Press    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Payday lender Cash America International Inc. reported fourth quarter earnings beat Wall Street estimates, bolstered by steady growth of its core pawn-lending business, and forecast strong first quarter profit. Net income for the Fort Worth, Texas-based pawn shop operator increased 107 percent to $33.7 million, or $1.09 a share, from $16.3 million, or 54 cents a share, a year earlier. More

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Alabama pawnshop named retailer of the year by firearms dealer
Shooting Sports News Service    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Sturm, Ruger & Co., Inc. announce that the first Ruger Retailer of the Year Award was presented to Larry's Pistol and Pawn of Huntsville, AL. Larry and Rob Barnett were honored at the 2010 SHOT Show with an engraved Mark III pistol and an embellished wall clock to recognize their notable success in the retail firearms industry. More

Fort Worth, Texas, leaders considers doing away with two-year rule for pawnshops
KXAS-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Fort Worth City Council in North Texas is considering a proposal that would ease restrictions on pawnshops in the city, but one councilwoman says Cowtown doesn't need more pawnshops. As it stands now, pawnshops and payday lenders that go out of business for two years or more cannot reopen in the same location. But a proposal would do away with the two-year rule for pawnshops. More

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Some Louisiana pawnshops see more DVDs than diamonds
Monroe News Star    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Those who tune in to the History Channel's popular show "Pawn Stars" see a Las Vegas pawnshop overrun with big diamond rings, antique weapons and even the occasional hot air balloon. A venture inside pawnshops in Monroe, La., though, reveals something a little different. There's jewelry and weapons, but nothing as valuable or unusual as what's featured on the TV show. Instead, area pawnbrokers do business with folks just trying to make ends meet. More

New York gold slightly lower as data lifts dollar
The Wall Street Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Gold futures finished a volatile session with a tiny loss after the U.S. dollar was boosted by stronger-than-forecast economic data in the U.S. The metal was on the defensive much of the day but pared its losses in the final hour as traders bought to even positions in which they previously sold. Nearby February gold fell 60 cents, or 0.06 percent, to settle at $1,083 an ounce on the Comex division of the New York Mercantile Exchange. Most-active April dipped $1, or 0.09 percent, to $1,083.80. More

"Pawn Stars" is a smash success
TransWorldNews    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Hailed by viewers as a really cool Antiques Roadshow,” "Pawn Stars" is one of the most popular TV shows on the History Channel, which is part of the American Cable TV network. The show is produced by Leftfield Pictures and shot in and around the Las Vegas area. "Pawn Stars" chronicles the activities that take place inside a Gold and Silver Pawn Shop. The first episode was aired back in July 26, 2009. Each one-hour block features two episodes. This show has a loyal viewership that tunes in every week to see the latest events happening in the pawnshop. More

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TV cash-for-gold firms 'offer fraction of true value'
Daily Mail    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Companies offering cash for gold jewelry in a recent flurry of TV adverts are paying a fraction of the items' true worth. The firms, which have latched on to increases in the price of gold, are "shockingly bad value," according to consumer group Which? More


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