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NPA Weekly NewsBrief
April 14, 2009  
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Illinois City Pawnshop Looks to Debunk Negative Misconceptions
from Daily Northwestern
Bruno Wilson, owner of Evanston's Windy City Jewelry & Loan Ltd. in Illinois, said he's tired of the stereotypes and negative misconceptions regarding the pawnshop profession. Wilson is working his hardest to defy them. The shop is clean and neat, and no one can enter without first being buzzed in by an attendant. More

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The Great (Used) Gold Rush of 2009
from BusinessWeek
Economically battered Americans at all income levels are rooting through their drawers to sell off their gold and jewelry for extra cash. With gold prices soaring, even the savviest collectors can't resist the urge to make a quick buck. More

Pawnshops Threatened by Senate Bill
from KSEE-TV
A bill in the U.S. Senate would cap interest rates at 36 percent yearly. One industry says the cap could put them out of business. Pawnshops make short term loans and use people's property as collateral. The owners say that, while 36 percent seems high, most of the loans they make are short term, and putting a 36 percent limit on them would make a lot of their small loans unprofitable for them. More

Pawnshop Owners Affected by Down Economy — in a Good Way
from Grand Junction Free Press
Queen Isabella of Spain pawned the crown jewels to finance Christopher Columbus' first voyage to America. That's according to pawnbroker Brian Langfitt of Grand Junction, Colo. Pawnbrokering is the "second oldest profession," Langfitt said, and in today's economic recession, pawnshops appear to be stronger than ever. More

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Pawnshops See Increased Business
from NECN-TV
The uneasiness surrounding lost jobs and a housing and credit crisis actually has one business flourishing. Providing the supply many people are demanding these days, pawnshops have the quick cash for the increasing number of people needing it. More

Pawnbroker Cash America Boosts 1Q Earnings Outlook
from Dow Jones Newswire via the Wall Street Journal
Cash America International Inc. raised its first-quarter earnings expectations, as tight consumer credit and the stumbling economy continue to boost pawnbrokers and cash advancers. Shares rose 4.1 percent premarket to $17.97. Cash America has been posting stronger results in recent quarters as more people look for alternative ways to raise cash. Meanwhile, states have been passing legislation aimed at curbing interest rates on cash advances, prompting the company to look at possibly stopping operations in some locales. Subscription required.

Pawnshops Defend Against Risk Faced if They Buy Stolen Goods
from The Meriden Record-Journal
No ID? Don't be surprised if pawnshops in Meriden, Conn., turn you away rather than buying that piece of jewelry or power tool you were trying to sell. During the past six months the number of people pawning or selling items has increased significantly, according to representatives of several local stores, but shop owners said state laws and communication with local police departments help protect them from purchasing stolen goods or becoming targets of illegal schemes. More

What Do I Need to Know Before I Pawn My Stuff?
from San Diego Union-Tribune
Your rent or car payment is due in two days, and you're about $100 short. The amount isn't enough for a bank loan and it's too much to borrow from your newly unemployed best friend. One option that an increasing number of people are using is to get a short-term loan at one of San Diego County's 40-plus pawnshops using your watch, digital camera or other valuable possessions as collateral. More

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Goods Pour Into Pawnshops
from San Gabriel Valley Tribune
Two saxophones hang on the wall next to electric guitars, plasma televisions and CD players in a pawnshop that sees a constant stream of customers. But the number of instruments and electronics at Goodfellas Pawn Shop in West Covina, Calif., pales in comparison to the number of power tools stacked on shelves and along the floor. "About a year ago, we started seeing construction workers who lost their jobs coming in and selling of their equipment," said Mike Galstyan as he helped customers at Goodfellas. More

'Right Time' for Pawnshop
from The Beacon News
In a city that boasts nearly every enterprise imaginable, Naperville, Ill., resident Greg Holloway and his partner, Tom Brunzelle, have opened Naperville Jewelry and Loan − a pawnshop, owners say, with a twist. "There are other pawnshops around, but ours is the only one that is a licensed pawnshop, meaning we are licensed as a loan broker," Holloway said. "We offer loans to people for 30 days at a time, based on collateral." More

Hard Up in New York? Pawn Your Renoir
from The Mail & Guardian
Pity the world's rich: as the credit crunch bites, they too are heading to the pawnbroker's -- albeit with a Renoir or Van Gogh under their arm. New York pawn shops dealing with art collectors are at the refined end of a market more accustomed to seeing loans exchanged for an old watch, a television or family jewelry. But with banks squeezing credit lines, hocking an Old Master, or an Andy Warhol, can be a good way to raise serious cash. More

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Pawnshops Could Close
from KBJR-TV
The federal government has a plan to end predatory lending, and that plan could turn pawnshops into a thing of the past. "There will be no longer any short to loan places to go to if this bill goes through," said Richard Buschman, who works at S & P Loans Co. in Duluth, Minn. He says it costs a customer about $26 for a $350 two week loan. More

Tough Times for Consumers Mean Busy Times for Pawnshops
from Yakima Herald-Republic
It took several armloads for the Jacksons to carry their stuff -- assorted tools and DVDs, a DVD player, TV, alarm clock and space heater -- back out to the car on a recent afternoon. "They've saved us on numerous occasions," says Sarah Jackson, standing at the counter of Ed & Moe's Pawn Shop in Yakima, Wash., redeeming her family's valuables for just over $170. Pawning, says Jackson, "is a way to get a loan if you don't have good credit. We have two kids and no job." More

How to Charge $37.50 for a Cup of Café Latte
from Predictably Irrational
Imagine that it is the last day of the month and you have $20 in your checking account. Your $2,000 salary will be automatically deposited into your bank later today. You walk down the street and buy yourself a $2.95 ice cream cone. Later you also buy yourself a copy of Predictably Irrational for $25.95, and an hour later you treat yourself to a $2.50 cup of café latte. You pay for everything with debit card, and you feel good about the day - it is payday, after all. More

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