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Home   About   Membership   Resources   Government Affairs   Meetings & Events Aug. 10, 2010

Southern Oregon pawnshops receive legal go-ahead to open 7 days a week
The Mail Tribune    Share   Share on FacebookTwitterShare on LinkedinE-mail article
An outdated blue law that blocked pawn shops from doing business on the Lord's Day has been ditched by Medford, Ore., officials. "We've shown discomfort with the law for the past couple of years," said Brandon Schulzke, manager of Southern Oregon Pawn. The Medford City Council repealed the law from its books at the request of law enforcement, allowing pawnshops to open on Sundays. "It's an antiquated law," said Medford City Attorney Lori Cooper. "It will be good not to have laws on the books that are not enforceable." More

Pawnshops see rise in business
Northern Nevada Business Weekly    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Strapped Nevadans once again are turning to their local pawnshop rather than a payday lender for an infusion of ready cash. As payday-lending institutions cropped up throughout the state over the past decade, they siphoned off a great deal of business from northern Nevada pawnbrokers, pawnshop owners say. But regional pawnshops once again are seeing an upturn in pawn transactions — mostly because unemployed borrowers lack the means to get loans at paycheck advance businesses. More

Cash America buys chain of 39 pawnshops
The Fort Worth Star-Telegram    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Fast-growing Cash America International said that it agreed to buy a 39-store pawnshop chain that operates in Washington state and Arizona. The $70 million cash and stock acquisition of Maxit Financial will bring to more than 1,100 the number of payday lending stores and pawn shops the Fort Worth, Texas-based company owns and operates in the U.S. and Mexico. Maxit operates 29 Washington and 10 Arizona stores under the names Pawn X-Change and Maxit. The company has been in business since the early 1990s. More

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Pawnshops now a bigger gold mine for people needing fast cash
Naples Daily News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Halfway through a job building custom shelves for a customer and in need of a quick infusion of cash to finish his work, Mike Rupp turned to an old standby — Capital Pawn in Bonita Springs, Fla. Rupp, a 37-year-old contractor, made four stops at the shop the last week of July, pawning a guitar and some fishing poles so he could pay for paint, a paint sprayer, and other supplies to finish his job. When he gets paid for the work, he will head back to Capital Pawn to retrieve his items, just like he always does. More

Watervliet, N.Y., mulling moratorium on pawnshops
The Troy    Share    Share on
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Watervliet, N.Y., may soon impose a moratorium on businesses dealing with second-hand items — in short, pawnshops will not be allowed in the Arsenal City. The Watervliet City Council met and passed a resolution to hold an Aug. 19 public hearing on the matter. More

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Pawnbrokers strike gold as economy stutters
The Independent    Share    Share on FacebookTwitterShare on LinkedinE-mail article
It's boom time for the pawnbrokers. The gold price hit a three-week high of $1,208.65 an ounce — its strongest since July 16. And recent predictions that it has reached a plateau, and could be due for a fall in the medium term, probably won't be enough to bother what has quietly become one of Britain's fastest growing industries during the current troubled economic times. More

Gold prices look to Federal Reserve
TheStreet    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Gold for December delivery was down $3.40 to $1,201.90 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,212.10 and as low as $1,201.40. The U.S. dollar index was rising 0.19 percent to $80.56 while the euro was falling 0.36 percent to $1.32 vs. the dollar. The spot gold price was down more than $3, according to Kitco's gold index. More

Pawnshops gain popularity during tough economic times
Yakima Herald-Republic    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The car stereo had been on the shelf only two days. Shawn Van Winkle, the owner of Sunnyside's first pawnshop in Washington, in at least 10 years, wasn't about to let it go without a fight, and customer Homer Camacho was determined to score some sort of deal. After several minutes of laughter-punctuated negotiations, they dug in about $10 apart. "Last chance, sir," Camacho said, feigning a motion to walk out the door. More


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