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NPA Weekly NewsBrief
March 10, 2009  
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Businesses in Shanghai are Pawning Their Factories to Keep Going
from The Telegraph
Shanghai Oriental is so vast it is known locally as the "aircraft carrier" of pawnshops. And it is thriving as the Chinese economy sinks into the mire. The flashy Shanghainese, who would have thought nothing last year of buying designer trinkets, are now pawning their Gucci bags and Rolex watches in desperation. Additionally, entrepreneurs often put up their factories, homes and usually all the gold they have to handle their debts. More

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Recession Helps Pawnshops Near Reno, Nev.
from Carson Times
As the recession deepens, more Northern Nevada residents are turning to pawnshops to sell or pawn valuables for quick cash and to buy jewelry or other merchandise at discount prices. "I sold my dad's (automotive) tools and paid my rent," said Nathan Vasquez, 24, of Reno, a restaurant worker who said he was unemployed for two weeks last month. "I could have gone with eBay or Craigslist and probably gotten more for them, but with a pawnshop, you are in and out with the money." More

Pawnshops: As Recession Deepens, Cash-for-Goods Outlets Become Alternative to Banks
from Finance and Commerce
In today's sluggish economy, pawnshop owners say they’re increasingly functioning as the operators of de facto micro-banks, making a business of providing short-term loans to small-business owners who are coping with tightened bank credit, slow-to-pay creditors and other cash-flow problems. Within the past year or so, Minnetonka, Minn.-based Cash 'n' Pawn has seen an estimated 300 percent increase in loans of more than $5,000. More

Gold May Rise on Demand for Haven Amid Equity, Banking Turmoil
from Bloomberg
Gold may rise for a second straight week as investors seek an alternative to stocks and bonds. Eighteen of 22 traders, investors and analysts surveyed from Tokyo to Chicago on March 5 and March 6 advised buying gold, which rose 20 cents last week to $942.70 an ounce in New York. Gold is up 6.6 percent this year. More

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Ever Wonder Where Stolen Items End Up?
from The Island Packet
When John Zentz saw the broken window on his 2005 Chevrolet Tahoe and discovered his GPS device gone, he was steamed. But what happened to that GPS once it was in the criminal's hands? Zentz, vacationing on Hilton Head Island when the incident occurred, ventured a guess. "It probably ended up in a pawnshop somewhere ... or sold on the street," he said. "That's what I suspect." According to police and pawn brokers, Zentz isn't far off. More

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Pawnshops Can Help You Get Through These Tough Economic Times
from KTNV-TV
SuperPawn's Caroline Ciocca in Las Vegas, says business has been picking up as the economy has slowed down. "We've seen an increase on the retail side. But we've also seen an increase on the gold side because gold is trading at an all-time high," said Caroline. That means good money for people willing to part ways with their jewelry and big savings for those looking to buy. More

With the Economy in Recession, People Are Turning to Pawnbrokers
from Asbury Park Press
A contractor recently took out a loan at Century Pawnbrokers in Asbury Park, N.J., using his watch as collateral. "It's for payroll," said Hal Greenspan, co-owner of the shop, adding that the man has been to his store about six times in the last three weeks. "He's got to make his payroll. If he doesn't have his payroll, his guys aren't going to work for him." More

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Recession Forces New Yorkers to Turn to Pawnshops for Quick Cash
from The New York Daily News
In this sour economy, at least someone is still lending money. Pawnshops across the five boroughs are doing brisk business as New Yorkers look for extra cash to get them through these tough financial times. Average New Yorkers, who never needed to visit a pawnbroker in the past, are now raiding the jewelry box and electronics cabinet, looking for items to sell or use as collateral on a small loan. More

Bellingham, Wash., Shop Owner Abandons Plan for New Pawnshop Near Middle School
from The Bellingham Herald
A pawnshop owner who planned to build his own store near Shuksan Middle School in Bellingham, Wash., and sell guns there has abandoned his plan, saying city requirements would have cost too much to get a building permit. Tim Adams, owner of Checkmate Pawn, fought the city when planning director Tim Stewart tried to ban the trading of guns at the new location. Adams seemed to have won when the city’s hearing examiner said state law doesn’t allow the city to ban gun sales there. More

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Pawnshops Enjoy Success in Recession
from Statesville Record & Landmark
A growing number of Statesville, N.C., residents in need of extra cash are turning to local pawnshops. Some customers are simply cleaning their closets, while others are hocking everything from plasma televisions to cement cutters to make it through the month. "We help people from all walks of life," said Rick Harris , a jeweler with Statesville Jewelry and Loan. "A lot of workers are out of work and they need the money." More

Pawnshops Flourish in Struggling Economy
from the Hillsboro Argus
With many industries suffering through the economic downturn, one Washington County, Ore., pawnshop is expanding into Hillsboro, Ore., as more people from all walks of life use its services to pay bills, cope with unemployment or earn a little extra cash. More




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