Cash-strapped U.S. Art Owners Hit the Pawnshop
from The Associated Press via Google News
Famous artists and high-end art collectors are joining a litany of victims from the crippling U.S. recession, pawning some of their most valuable works in exchange for much-needed cash. As the stock market plunged, banks tightened their lending standards and home values or equity dropped, that dusty Old Master or that forgotten Andy Warhol print suddenly became important collateral for a growing number of art owners.
Big Banks Now Offer Payday Loans
from the Minneapolis Star Tribune via Scripps Howard News
For more than a decade, the nation's payday lenders have battled the perception that they operate on the shadowy fringe of the mainstream financial system, outside the reach of government regulators and rules dictating prudent lending. Now, payday lenders have a powerful new ally in their quest for respectability: big banks. More
Ever Wonder How a Pawnshop Works?
from Consumer Education via Steadfast Finances
I've never frequented a pawnshop in my life, but lately, I've been rather enthralled with The History Channel's new show — "Pawn Stars," the author writes. As a student of consumer psychology, I find it somewhat surprising that so many people are willing to part with some of their most treasured possessions (and other stuff that seems like complete crap) for cold hard cash. Then again, considering the severity of the recession, it's not surprising that a growing number of people don't have much choice when it comes to making ends meet. More
Pawnshops Meet the Internet Age
from Dow Jones Newswires via The Denver Post
Todd Hills burst into laughter when I asked if he thought the economy was recovering. Hills is not an economist, or a banker, or an analyst, or a politician, or a motivational speaker, or a talking head on TV, or even a guy who finished high school. At 16, he had no chance for college, and only knew about trading horses. So he went to work for a pawnshop.
Rising Prices Sparks Gold Rush in Birmingham, Ala.
from Birmingham Post
Manufacturers have seen expenditure on gold soar after the price shot up to a six month high – but pawnbrokers are seeing record levels of business as people flock to cash in on the rise. Gold rose above the psychological barrier of $1,000 an ounce after enormous gains on the back of inflation anxiety and renewed investor interest. More
Appetite for Guns Sends Bullet Sales Shooting
from The Boston Globe
There's a bull market for bullets. Stacks of ammo, once piled high at gun shops across America, have dwindled. Prices paid by consumers for much sought-after Winchester .380-caliber handgun bullets (a common name for cartridges) have doubled. At weekend gun shows, trailers loaded with boxes of ammunition are drained within hours. More
Florida Pawnshop Owner Leaps into Mayor Race
from The Gainesville Sun
Richard Selwach, owner of Best Jewelry and Loan Pawnbrokers, recently announced his intention to run for mayor of the city of Gainesville, Fla., in 2010. Selwach said he looks forward to facing "an old adversary" in the election.
A Sign of Tough Times
from Sunday Sun
Recession, what recession? There's no recession, it appears, in the world of pawnbroking. Business, it seems, has never been better for the industry. Among the success stories is North East company Ramsdens in England, doing nicely, thank you very much, and presumably turning in a not- so-little profit. There's talk of doubling the number of shops and doubling the number of staff. More
Economic Confidence Rebounds
from The Wall Street Journal
Economists and consumers are feeling better about the economy a year after the most frightening moments of the financial crisis. Forecasters surveyed by The Wall Street Journal, giving the government generally good marks for its handling of the financial crisis, now see employers slowly adding jobs over the next 12 months.
EZCORP CFO to Retire
EZCORP, Inc. announced that Daniel N. Tonissen, senior vice president and chief financial officer, will retire at the end of the calendar year. Tonissen has been the chief financial officer of EZCORP, and a member of its board of directors, since August 1994. Tonissen has directed and overseen all aspects of EZCORP's finance function, including corporate finance, accounting, treasury, internal audit, and investor relations, and has also overseen the loss prevention, human resources, and information technology functions.
Florida Man Signs for Package, Pawns Contents
from Florida Today
A 46-year-old man was arrested after Palm Bay police said he signed for a neighbor’s package delivery and then sold the laptop computer to a pawnshop. The victim called Palm Bay police after the $399 laptop she ordered failed to be delivered. More
Gold Falls as Optimism About Economy Grows
from The Associated Press via Forbes
Gold prices fell again, as optimism about the U.S. economy grew and investors funneled money into stocks and oil. Investors grew more upbeat about the economy after the Labor Department said jobless claims fell more than expected to 550,000. More
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Manhattan Gold & Silver has been a worldwide wholesale provider in precious metals refining services and recovery since 1985. Our commitment to our customers and over twenty years of experience allows Manhattan Gold & Silver to provide wholesale precious metals refining services to pawnshops. More