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NPA Weekly NewsBrief
Feb. 17, 2009  
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More People Pawning
from WKYT-TV
The tough economic times have many struggling to pay their monthly bills and some are turning to area pawnshops to come up with the cash. With the current economy, some pawnshop owners say they are seeing more unfamiliar faces walk through their doors. “I'm seeing more people pawn stuff that you really wouldn't think. I've had lawyers pawn stuff, I mean it's just been...the economy's bad,” said Gary Bain, owner of Gary’s Pawn Shop in Corbin, Ky. More

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Job Losses Pose a Threat to Stability Worldwide
from The New York Times
From lawyers in Paris to factory workers in China and bodyguards in Colombia, the ranks of the jobless are swelling rapidly across the globe. Worldwide job losses from the recession that started in the United States in December 2007 could hit a staggering 50 million by the end of 2009, according to the International Labor Organization, a United Nations agency. The slowdown has already claimed 3.6 million American jobs. More

Ritzy Offerings Land at Omaha Pawnshop
from TheOmahaChannel.com via MSNBC
Tough times may be compelling people to pawn off their high-dollar items. The habit has led to some unlikely finds at a local pawn shop, including a $60,000 gold watch and a four-carat diamond ring worth $100,000. More

Many who Pawn to Make Ends Meet Not Reclaiming Items
from The Muskogee Phoenix
When people get desperate for money to put food on the table, sometimes they resort to pawning tools, guns and even Grandma’s wedding ring. But, many are never able to come up with the money to reclaim those items. More

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Gold Declines as Demand Falters After Rally to Six-Month High
from Bloomberg
Gold dropped a second day in Asia as investor demand diminished after the metal’s rally last week to more than $950 an ounce, the highest in six-months. Bullion climbed to $952.92 an ounce on Feb. 12, the highest since July 22, as the global financial crisis prompted investors to seek gold as a store of value and demand rose for haven assets. More

Pawnshop Sting Found Stores in Violation of Recording Practices
from The Palm Beach Post
Dozens of pawnshops owners were recently handed a different kind of ticket. Inspectors from the state Department of Agriculture and Consumer Services, along with Palm Beach County sheriff's deputies, did surprise inspections of 56 licensed pawnshops operating in Palm Beach County. Of the 56 shops inspected, violations were found at 40 shops, said department spokesman Terry McElroy. Inspectors were looking for violations such as not recording the serial numbers of electronics being pawned or charging more than 25 percent interest on pawned items. More

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City Leaders in Mesa, Ariz., May Slap Fees on Pawnshops, Some Thrift Stores
from The Arizona Republic
After nearly a year of haggling and study, the Mesa City Council is poised to slap a transaction fee on pawnshops and some second-hand stores. The proposed $3 fee would be paid every time someone leaves collateral at a pawnshop for a short-term loan. It also would be levied on many people who sell goods to second-hand stores. More

VideoBrief
Pawnshops See Influx of High-end Merchandise
from KOAT-TV
Pawnshop owners in Albuquerque, N.M., said they're seeing new customers and more high-end items as families look for quick cash to pay bills. Behind the glass cases of Albuquerque pawnshop shines diamond rings and expensive watches. With each item comes a different story. More

Cash

Hard Times Force Some to Cash in Valuables
from WSBT-TV
For thousands in our area, layoffs and unemployment checks are a reality. Many of those without work must find unconventional ways to make ends meet, so they're trading in personal items for cash. Kenneth G Rare Coins in Mishawaka, Ind., buys coins, gold, silver, jewelry, diamonds, old sports cards and scrap gold. "We get a lot of broken jewelry or people bringing in nice necklaces they just don't wear anymore," said Anthony Gaipa. More




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