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Home   About   Membership   Resources   Government Affairs   Meetings & Events Sept. 20, 2011

Former Detroit Red Wing joins 'Hardcore Pawn'
Detroit Free Press    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Look who's the newest employee at American Jewelry and Loan, the Detroit pawnshop featured in the truTV series "Hardcore Pawn" — Longtime Detroit Red Wings grinder Darren McCarty. "Darren came in with a buddy to check out the store awhile back, and I could see his eyes light up as we talked about the business," said Seth Gold, manager of American Jewelry and Loan. "When he said he was interested in learning more, we took him up on it. We think he'll be an amazing addition to our team." More

Poverty rate rises in America
CNN Money    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Amid a still struggling economy, more people in America fell below the poverty line last year, according to new census data. The nation's poverty rate rose to 15.1 percent in 2010, its highest level since 1993. In 2009, 14.3 percent of people in America were living in poverty. More

How, in the name of Brad Pitt, did Chumlee become a TV star?
The Vancouver Sun (Opinion)    Share    Share on FacebookTwitterShare on LinkedinE-mail article
As overnight sensations go, he's an unlikely candidate. No discernible talent, for one thing. Can't sing, can't act, never been known to do a magic trick. And while possessing his own singular charms, he's not exactly Brad Pitt, but instead a walking advertisement for the excesses of Las Vegas, where he lives. More

Forget gold, we pawn luxury cars
The Jewish Chronicle    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Arising number of company directors and professionals are turning to pawn. Cash4MyCar, a U.K.-based broker offering short-term loans on cars, is experiencing a significant increase in luxury models as even wealthy customers seek ways to get equity quickly to finance business transactions amid the tough times. Paul Zimber, operations manager at Cash4MyCar, says: "We have seen a substantial rise in demand for this. Wealthy people are borrowing tens of thousands of pounds and leaving their cars as security. We have found ourselves doing high-class car pawn." More

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Operator of pawnshop case pleads guilty to wire fraud conspiracy in connection with the sale of stolen merchandise
FBI Baltimore Division    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Editor's note: Over the course of the past several months, this operation has been labeled as a theft operation against pawnshops. Of the 30 stores involved, three were pawnshops and the rest were buy-and-sell stores. The Maryland State Attorney General's office and media outlets, among others, were notified that their reporting was made in error, including making the distinction between pawnshop and buy /sell businesses. As of today though, they continue to refer to Fast Money as a pawnshop when in fact, it was a buy/sell store!

Here's the lastest news from the FBI Baltimore Division: Scott Bradford, age 49, of Glen Burnie, Md., pleaded guilty to conspiracy to commit wire fraud in connection with the sale of stolen merchandise through Fast Money in Brooklyn, Md. According to his plea agreement, from 2007 to March 2010, Bradford admitted that he and others were involved in the purchase and sale of mass quantities of stolen over-the-counter medications, health and beauty aid products, gift cards, DVDs, tools, and other merchandise.

As prices soar, a new gold rush emerges in the West
CNN    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Pirates, Spanish conquistadors and James Bond movie supervillains have all searched, schemed and even killed for it — Gold. And along a gurgling stream in Washington state, Bob Gustafson, a retired grandfather of three, squeezes into his wetsuit to join the long history of people hunting for the precious metal.

Cash America will spin off online loan operation
Fort Worth Star-Telegram    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Cash America International, the Fort Worth, Texas-based operator of pawnshops, said that it will spin off a majority of its online lending subsidiary, Enova International, in an initial public offering that could raise up to $500 million. Investors applauded the announcement, sending the company's shares up $4.11, or 7.3 percent, in heavy trading to close at $60.63, a new high. More

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Economy down, pawn stocks up    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Anyone searching for a counter cyclical stock that benefits from high unemployment and a weak credit market needs to start looking at pawn and payday lenders. I'm sure images of toothless criminals, shady back-alley deals and missing gold chains come to more than a few minds, said Michael Vodicka, momentum stock strategist for But a closer look at the group reveals a very legitimate industry that has seen big gains over the last two years in the weak consumer environment. More

Neighbors in Las Vegas community say no dice to proposed pawnshop move
Las Vegas Review -Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
For the second time in recent decades Las Vegas pawnshop owners Howard and Caryl Bock find themselves in the path of a major downtown casino expansion. Only this time they might not be able to get out of the way. More

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Gold falls as traders raise cash
Dow Jones Newswires via The Wall Street Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Gold futures fell as investors sold their holdings in gold to cover losses in other markets amid steep declines in world equity markets. The most actively traded gold contract, for December delivery, recently fell $23.80, or 1.3 percent, to $1,790.90 a troy ounce on the Comex division of the New York Mercantile Exchange. More

A Tennessee county ups license fee for pawnbrokers, gold buyers
The Kingsport Times-News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Pawnbrokers and cash-for-gold businesses will face tougher regulations and a steeper permitting fee after the Scott County Board of Supervisors in Tennessee passed an updated precious metals ordinance. The board voted 6-1 to amend the 30-year-old ordinance following a mandatory public hearing. More

Pawnshop rules: Gold vs. diamonds
Fox Business    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Diamonds may be forever, but in an unstable market, gold is the smarter choice for people looking to make some quick cash. Consumers interested in buying, pawning or borrowing against these items should look to the precious metal, which has soared 27.4 percent so far this year. More

Joliet, Ill., nixes gold store; pawnshop plan tabled
Chicago Sun-Times' Herald News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Joliet Zoning Board of Appeals in Illinois voted against a permit for a gold buyers' store that faced community opposition. The board tabled a vote on a pawnshop, which also faced opposition that included the combined forces of neighborhood organizations. Joliet attorney Michael Hansen, who represents CashAmerica, said he asked that the vote on a permit for the pawnshop be tabled to give him time to meet with community groups. More

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