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Home   About   Membership   Resources   Government Affairs   Meetings & Events Oct. 2, 2012

Pawnshops: Swapping iPads, cars for cash? via Yahoo Finance    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The electric bill is due in a few days, but your remaining funds are set aside for the weekly groceries. What do you do? If you have a gold ring or an iPad that you can live without for a few weeks, it could be your financial savior. With banks drastically reducing lending, more people are turning to pawnshops when they need quick cash. Once known as dark, dingy and sometimes dangerous, pawn stores are becoming more financially acceptable and even the fodder for reality TV hits such as the History channel's "Pawn Stars." More

Cash America to close some Mexico pawnshops
The Associated Press via    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Cash America says it plans to close about 147 of its unprofitable jewelry-only pawnshops in Mexico before the end of the year. The pawnshop operator and payday lender said that a small number of jewelry-only shops will be converted into full-service locations over the next six months. More

How online pawnshops prey on desperate entrepreneurs with 90 percent plus interest
Forbes    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Say you've got a great idea for a startup business. You don't have a lot of cash, and banks don't loan much to brand-new businesses that don't yet have a track record of income. You may be broke now, but you do have some assets left from the go-go days: maybe some fine jewelry, a Rolex, a stocked wine cellar or luxury car. You're too refined to go downtown to a pawnshop, and they might not want your expensive possessions, anyway. More

Georgia cross-dressing robbers tie up pawnshop owner
WXIA-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A surveillance video shows two women walking into the Cobb Pawn shop in Marietta, Ga. After tying up the owner and robbing him, police learned that the video was deceptive. They weren't women, they were men dressed as women. "Both of them had sunglasses and were carrying large purses," said Marietta Police Officer David Baldwin. One of the suspects pulled a gun out of a yellow purse. "They chased the employee into the back, where they eventually tied him up with duct tape and then robbed him of a bunch of money and jewelry."

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Gold hits highest price since November 2011
The Wall Street Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Gold futures hit the highest price in 2012, as the president of the Federal Reserve Bank of Chicago said the central bank's bond-buying program would likely continue through next year. The most actively traded contract, for December delivery, recently traded up $16.70, or 0.9 percent, at $1,790.60 a troy ounce on the Comex division of the New York Mercantile Exchange. Futures rose as high as $1,794.40 a troy ounce, the highest intraday price since mid-November 2011. More

Pawn patrol: Police encourage Longview, Wash., to employ property tracking software
The Daily News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
When a college student reported her laptop was stolen in an Olympia, Wash., vehicle prowl earlier this year, Olympia Police Detective Sgt. Aaron Jelcick punched the computer's serial number into LeadsOnline. The online investigation software eventually hit a match when a woman pawned the laptop at a King County pawnshop, which was required to upload the transaction into LeadsOnline. Although police didn't find the car prowler — the woman said she'd bought the laptop in a casino parking lot — the victim was reunited with her laptop. More

Pawnshops in North Fort Myers, Fla., help to recover stolen goods
WZVN-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Anything you could sell — KC Pawn in Fort Myers, Fla., might buy it. "There is very little that surprises me anymore," said Alan Redfield of KC Pawn. And it also doesn't surprise Redfield that sometimes the people in his shop are trying to sell someone else's stuff. "Jewelry is one of the most popular things because of the price of gold," he explained. "If there's any doubt then we wouldn't do the transaction." More

Reality pawn star greets fans in Pearl, Miss.
WLBT-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A reality pawn star brokers a deal for Jackson, Miss.-area fans. Seth Gold signed autographs and took pictures with fans at USA Pawn and Jewelry in Pearl, Miss. Gold is one of the stars in Tru TV's reality show "Hardcore Pawn." More
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A New York county looks to amend pawn law, again
Albany Times Union    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A host of new regulations on Albany County, N.Y., pawnshops and secondhand dealers was struck down once. The County Legislature will try again. An earlier version of the law — which aims to clamp down on thievery by requiring pawnshops, precious metal and secondhand dealers to be licensed, among other things — was vetoed in August by County Executive Dan McCoy. More

Rising prices mean big business for gold buyer, down times for sellers
Chicago Tribune's SouthtownStar    Share    Share on FacebookTwitterShare on LinkedinE-mail article
When the economy gets rough, the price of gold kicks up — which has some businesses in the Southland, Ill., seeing dollar signs. "Investors have definitely seemed to catch the gold bug," said Bob Lalas, of A-R Coins in Burbank, Ill. "We're seeing more and more of them — business is booming." More


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EcoATM, the automated iPhone pawnshop
Bloomberg Businessweek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Millions of people are ditching their phones and upgrading to the new iPhone 5. And Mark Bowles is expecting a lot of business for his company's EcoATMs. The automated kiosks, parked in malls and grocery stores, allow people to exchange their used or broken electronics for cash. "It's immediate gratification," says Bowles. "There's no 30-day wait for a check in the mail." About 150 EcoATMs are in operation in 10 U.S. states, and Bowles's San Diego company, also called EcoATM, is installing two or three more per day, he says. More

Pawnshops targeted to foil 'knock knock' burglaries
Contra Costa Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Los Angeles police have made 57 arrests and shut down four downtown pawnshops this year as part of a strategy to combat "knock knock" burglaries that officials said have plagued communities in the Westside and San Fernando Valley. Targeting the pawnshops is a newer tactic in the effort to go after what had been an increasing crime in the area. More

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NPA Weekly NewsBrief
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