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NPA Weekly NewsBrief
March 17, 2009  
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Senate Bill Would Give Americans Fewer Borrowing Options
from the Orlando Sentinel
While America's economic turmoil has many roots, there is no denying that a major hindrance to the recovery is the tightened credit market. From a Fortune 500 company looking to finance a new project, to a poor family that needs to fix a broken automobile, Americans are discovering just how hard it is to borrow money. Given the unprecedented lending drought, one might think that policymakers' top priority would be working to restore a fluid credit market. More

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Pawnshops Expand Clientele in Recession
from Sacramento Business Journal
A victim of the recession, Lorraine Adame recently pawned her wedding ring to pay the bills. Adame is not alone. As money gets tight, Sacramento, Calif.- area pawnshops say they’re seeing more customers who have, or recently had, stable, well-paying jobs. "Traffic is definitely up," said Bill Tucker, owner of Gold-N-Pawn in Sacramento, Calf. "It’s definitely more of a higher-income clientele. … Everybody’s in a hardship, that’s for sure." More

Bad Times Can Be Boon at Pawnshops
from USA Today
Here's a sign of how bad the economic crisis is getting around the world: Almost anywhere you go, pawnshops are thriving. In China, where pawnshops first appeared 2,000 years ago, the government reports a 10 percent increase in requests to open new stores. As elsewhere, the lack of bank loans and spiraling unemployment push people to sell jewelry, purses and even property. More

Amazing Finds at High-End Suburban Pawnshop
from Chicago Daily Herald
Greg Holloway's Naperville Jewelry & Loan pawnshop in Naperville, Ill., features items not typically found in ordinary pawnshops, including this Les Paul guitar signed by and customized for Buddy Guy. Holloway, who has shopped at pawnshops for years, says his business is different. "It's a bit eclectic," he said. More

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U.S. Initial Jobless Claims Rose to 654,000 Last Week
from Bloomberg
First-time claims for U.S. unemployment benefits rose, holding above 600,000 for a sixth straight time, as companies kept cutting payrolls to reduce costs amid a worsening recession. Initial jobless applications increased by 9,000 to 654,000 in the week that ended March 7, more than anticipated, from a revised 645,000 the prior week, the Labor Department said. More

Business Still Brisk at Most Pawnshops
from Amarillo Globe-News
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

New Economic Trend: Quick Cash for Gold
from KVBC-TV via MSNBC
The struggling economy has many folks looking for any way to make an extra buck. One way people are cashing in is by taking advantage of the high price of gold. After checking with pawnshops, jewelry and consignment stores, and estate buyers, selling your gold is a great way to make some quick cash. More

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Pawnshops Report Spike in Business
from WFSB-TV
Pawnshops in East Hartford, Conn., have reported that in these tough economic times, residents are selling everything from digital cameras to jewelry to make a quick buck. "People that you wouldn't expect at a pawnshop getting money, they're at our door now," said Jay Sargent, of TC's Pawn Company in East Hartford, Conn. "We do see an increase over the last four to six months, even since last summer when gas prices were really rising." More

Credit Crunch Boosts Pawnbrokers
from Reuters
The scarcity of credit may be choking demand and exacerbating an already severe downturn, but it is adding to the attraction of the archetypal recession-proof businesses − pawnbroking, says Daniel Stewart & Company of London. "Unlike typical unsecured lenders who provide short-term credit to customers who invariably provide a bad debt headache, pawnbroking loans are secured against the value of a pledged item, one that is valuable and highly liquid, i.e. gold," the broker says in a note. More

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Beverly Hills Pawnshops Snap Up Artwork, Rolexes
from American Free Press
An original Kandinsky, an Andy Warhol, a grand piano and Rolexes by the dozen: as the economic crisis bites even the filthy rich are hocking prized possessions to pay the bills. "This business in the past eight months is booming," said Yossi Dina, the president of The Dina Collection, who describes himself as the pawnbroker to the stars in Beverly Hills, Calif. "I'm very special because I don't give small loans. I give big loans, people call me for half a million, two hundred, big loans. I've invested and I give the money out," he boasted. More

Pawnshops See a Growth in Business During Tough Economic Times
from WEHT-TV
During these tough economic times some Tri-Staters say they have no choice but to pawn off their belongings. Jeff Arvin, owner of North Main Pawn Shop in Evansville, Ind., says he is seeing more business as the economy worsens. More




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