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NPA Weekly NewsBrief
Aug. 25, 2009  
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EZCORP to Invest in Cash Converters
from CNBC
EZCORP Inc. said it would pay $45 million to take a 30 percent equity stake in the Australian pawn shop operator Cash Converters International Ltd. As part of the deal, Austin, Texas-based EZCORP will take two of five seats on the Cash Converters board. Cash Converters is based in Perth, Australia. More



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Pawnshops' Shelves Reflect Hard Times
from The Tennessean
Men in ties and middle-class moms bring in two-carat diamonds, Rolex watches and LCD televisions. "I've never done this before," they tell manager Gayle Ferebee as they walk through the door of the Capital View Pawn Store near downtown Nashville, Tenn. Ferebee hears it all the time now. More

Gold Gains as Dollar Decline Spurs Demand for Precious Metals
from Bloomberg
Gold rose to the highest price this week as the dollar declined, increasing the metal’s appeal as an alternative investment. Silver climbed to a two-month high, and platinum and palladium rose. The dollar fell for a third day against a basket of six major currencies after a report showed U.S. retail sales unexpectedly fell last month, adding to concern that consumers are unwilling to increase spending. More

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Centennial Pawnshop Eyes Online Loans
from The Denver Post
A Centennial startup wants people short on cash but too proud to enter a pawnshop to consider meeting in a more comfortable and discreet place: online. Internet Pawn is banking that a tough economy has created a new generation of consumers eager to borrow against their valuables. More

Bernanke: Economy on Verge of Recovery, Worst of Crisis is Over
from USA Today
Federal Reserve Chairman Ben Bernanke gave his most upbeat economic outlook yet, saying the recession seems to be ending and a recovery should begin shortly. Most economists expect the recession to end in the third quarter, with many saying it's already over. Many, however, expect unemployment — now at 9.4 percent— to peak above 10 percent early next year. More

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Teddy Bears Key to Arrests in Houston Pawnshop Heist
from the Houston Chronicle
Teddy bears in Florida that were stuffed with stolen jewels led police to four men accused in an armed robbery at a northwest Houston pawnshop about five months ago. Police said the four men, armed with pistols, held up the InstaCash Pawn Shop and fled with an undisclosed amount of cash and jewelry. More

People Turn to Pawnshops to Fund Ramadan Revelry
from Jakarta Globe
As food prices continued to climb on the eve of Ramadan, state-owned pawnshops across Indonesia began to experience the seasonal surge of customers looking to unload items for a much-needed buck or two in anticipation of an expensive holy month ahead. Zulkifli, a staff member at a pawnshop in Kebayoran, South Jakarta, said that the queue of people in front of his shop had formed even before it opened its doors at 10 a.m. and had remained constant throughout the day. More

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Minimum Age to Pawn is 18 in Richfield, Minn.
from Sun Newspapers
Those who are 18 have the right to vote, right to purchase cigarettes and in Richfield. Minn., now have the right to pawn a diamond ring. The city was contacted by a pawnbroker requesting the city's ordinance be amended, allowing anyone 18 or older to engage in a transaction at a pawnbroker. The ordinance previously set the minimum age at 21. More

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In Bad Economy, Pawnshops are King
from The Capital Times
Tucked away in plain sight on a frontage road, Mister Money – the only pawnshop in Dane County, Wis. – isn't easy to find. But business is good among those in the know. The prospect of quick money in exchange for a bicycle, a tool or musical instrument – or a bargain on something the owner could not get out of hock in time – draws a steady stream of customers. More

 

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