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Pawnshops: Economic barometer?
National Pawnbrokers Association    Share   Share on FacebookTwitterShare on
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How the pawnshop mega-corporations earnings reports are skewing perceptions of the pawn industry. Why is the pawn industry generating so much attention as a "barometer of the economy?" Reports show that the three publicly traded pawn companies reported significantly increased earnings during last two fiscal quarters. A historic increase in gold value and the "Cash for Gold" craze have shown record numbers of people trading in old jewelry and coins for cash. Perhaps the perception could be based on speculation that "in hard times, people pawn." However, there is a larger, more compelling story about the pawn industry. More



Would you buy a second-hand car from a pawnbroker?
The Global Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
While we regularly hear of the number of new cars hitting Beijing's roads, there's less discussion of the second-hand auto market, which has also developed rapidly in recent years. However, the financial services aimed at second-hand auto merchants is far from caught up with the development of the auto market, so pawnshops featuring rapid financing and flexibility have taken the initiative to seize the market for future growth. More

Pawnbroker posts leap in profits
Google News via The Press Association    Share    Share on FacebookTwitterShare on
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Pawnbroker Albemarle & Bond has posted a 75 percent leap in profits as sky-high gold prices continued to lure customers through its doors. Albemarle said surging gold — which has risen above 1,120 U.S. dollars an ounce and boosted scrap prices — had helped increase pawnbroking income as well as raise profits in the precious metal division. More

Recession, TV show draw new crowds to pawnshops
The Daily Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Thanks to the History Channel, and its reality show "Pawn Stars," millions of Americans are discovering how fascinating the colorful world of the pawn business can be. However, for some, it's just another day at the office. Steve Kottman is general manager of the two locations of Crazy Louie's Pawn Shops in Salisbury,Md., and he and his staff of seven employees love the show, which drew 3.5 million viewers with its second season premier on Dec. 21. More

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Minnesotans join rush to cash in gold jewelry
Minnesota Public Radio    Share    Share on FacebookTwitterShare on LinkedinE-mail article
It's hard to escape the pitches from jewelers, pawnshops, and other businesses eager to buy unwanted gold. Especially, the catchy ads from the Gold Guys.  Last year, the Gold Guys said they bought gold from some 33,000 Minnesotans. All that gold, platinum and silver was worth about $10 million when melted down at a refinery. More

Payday lenders giving advances on unemployment checks
Los Angeles Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The payday loan industry has found a new and lucrative source of business: the unemployed. Payday lenders, which typically provide workers with cash advances on their paychecks, are offering the same service to those covered by unemployment insurance. More

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Dollar Financial Corp opens its 300th store location in the United Kingdom
BusinessWire via MarketWatch    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Dollar Financial Corp, a leading international diversified financial services company primarily serving unbanked and under-banked consumers for nearly 30 years, today announced the opening of its 300th "Money Shop" store location in the United Kingdom. The new store, which is located in the storied town of Canterbury, will offer the Company's full range of consumer financial products and services, including check cashing, short term consumer loans, pawn broking services, foreign exchange, gold purchase, Western Union money transfer and other ancillary products and services. More



Gold may fall as dollar extends gains over euro; silver rises
Bloomberg BusinessWeek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Gold, little changed in New York, may fall as the dollar extends gains against the euro, eroding demand for the metal as an alternative investment. Silver climbed to the highest price in almost a month. More

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Fearing Obama agenda, states push to loosen gun laws
The New York Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
When President Obama took office, gun rights advocates sounded the alarm, warning that he intended to strip them of their arms and ammunition. And yet the opposite is happening. Obama has been largely silent on the issue while states are engaged in a new and largely successful push for expanded gun rights, even passing measures that have been rejected in the past. More

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Georgia town eyes electronic pawn reporting
Athens Banner-Herald    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Mike Rigby cataloged a new arrival at the pawnshop the old-fashioned way: He wrote down on a ticket the serial number of the Xbox 360, along with the name and address of the woman who hocked the game system. Athens-Clarke, Ga., police will pick up that ticket from Thornton's Pawn Center, along with hundreds of other paper tickets, as they make rounds to local shops to check the pawned merchandise against a list of stolen goods. More

 


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