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Home   About   Membership   Resources   Government Affairs   Meetings & Events Sept. 21, 2010
 
 
 

International Gem Tower — New York City
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We are also pleased to announce that the principals of Beverly Loan Company (www.beverlyloan.com), the world's most upscale collateral lender, are under contract to purchase a unit in the International Gem Tower. Beverly Loan Company will be the exclusive collateral lender in the podium of the IGT, providing large collateral loans against high-end jewelry and fine watches. CEO Jordan Tabach-Bank, explains, "We have been in business in Beverly Hills since 1938 and this unique project provides us with a perfect opportunity to expand our niche collateral-lending business to New York City, the diamond capital of the world. We look forward to being a source of credit for both dealers in the trade along 47th Street, as well as private clients throughout New York City and beyond." In addition to the Beverly Loan Company and House of Diamonds, many other global jewelry companies share the vision of finally having a 21st century industry facility in New York's Diamond District that will put the city at the forefront of the global diamond market once again. Included on the rapidly growing list of companies that are slated to move or expand their firms operations to the Gem Tower are: Lili Diamonds, Ofer Mizrahi (OM Diamonds), Kuperman Bros, and SimplexDiam. More



Central Maine pawnshop speaks out against crime
WABI-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Stolen merchandise showing up in pawnshops isn't anything new, but one Central Maine shop owner is speaking out to let folks know it's a crime. Everyday Al Shell of "Val Shell's Pawn Shop" in Waterville, Maine, sends a report to local police on everything that comes into his store. In Maine, pawnshops are required to keep a copy of the persons driver license, or state ID on file when that person pawns an item. More

Billings, Mont., gun heist puts pawnshops on alert
KECI-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
VideoBrief
Federal officials call it one of the largest gun heists in Montana history. Agents with the Bureau of Alcohol, Tobacco and Firearms say the guns were stolen from Conway Freight Company in Billings on Aug. 3. The company handles shipping for MT Sports, a federally licensed firearms dealer. All told, the thieves made off with 113 handguns and 20 rifles. ATF agents value the firearms at $40,000.
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Watches make good times for pawnshops
Xinhua    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Luxury watches have become the main goods exchanged for cash in Beijing pawnshops in recent years — and business is booming. At Baoruitong Pawn Shop, which is one of the oldest pawnshops in Beijing, watches on sale in the pawnshop for between 200,000 and 400,000 yuan, represent about 30 percent of its personal goods business, according to Xie Yifan, the director of civilian goods. More

Need for a pawnshop in Elgin, Ill., a sign of the times
The Courier News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Elgin City council members in Illinois are expected to consider a measure that would pave the way for establishing what would be town's only pawnshop. City Manager Sean Stegall cited a change in banking culture — limited access to traditional credit for many people — as a factor in possibly changing the city's zoning laws. The proposal would allow a pawnshop to operate in the same areas as most retail businesses citywide. More

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Senate OKs small business jobs bill
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After months of debate and significant pressure from the White House, the Senate passed a $42 billion bill aimed at helping small businesses. The House passed its own version of the bill about three months ago. The Senate's version of the Small Business Jobs Act will now have to go back to the House, where it's expected to pass, before President Obama can sign it into law. More

Gold futures hit third record high on weak US data
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
U.S. gold futures hit a third record high at above $1,280 an ounce, as weak U.S. consumer confidence and market talk of more quantitative easing sent the alternative asset to its largest weekly gain since May. More



Pawnbrokers have existed for over 3,000 years
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As the earliest form of lending and banking, the existence of pawnbrokers can be traced back over 3,000 years in China. Early records in the show that they practiced money lending in Greek and Roman times. There is even mention of the practice in the Bible. The Bible advises not to make loans on the tools a man uses to make a living. It also states that the moneylender was not to go to the house of the borrower but to let him come to the moneylender. These early pawnbrokers served two purposes in Biblical times. They exchanged the common currency for that used in temple offerings, and they served the purpose of lenders and bankers. In all cases, the practice revolved around lending money on some form of property as security against the loan. The existence of specialized pawn shops is noted in the records from China from the 5th century. More



Smith & Wesson shares tumble on 2Q outlook
The Associated Press via Bloomberg Businessweek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Shares of Smith & Wesson Holding Corp. dropped after the gun maker said dealers are cutting back on gun orders and posted an outlook for its fiscal second quarter that fell short of Wall Street forecasts. The company said that its fiscal first-quarter net income dropped by half from the same period last year. Its outlook for the current quarter, which ends in October, was also weaker than analysts had expected because of cautious orders from gun dealers. More

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