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Home   About   Membership   Resources   Government Affairs   Meetings & Events Oct. 12, 2010

Pawnshops find new customers in tough economy
WALB-TV    Share   Share on
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Pawnshop owners say they're seeing more middle- and upper-class customers coming in for money and the items they're dropping off are more valuable. "We used to have a lot more $25, $50 loans. Now we have $500, $1,000, $2,000. People have to pay their rent, their mortgage, big bills," Yigal Adato of Cashco Jewelry and Loan in San Diego said. More

Cash America acquires 39 pawnshops
The Associated Press via Bloomberg Businessweek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Cash America International Inc. said that it has completed its acquisition of a 39-store pawn shop chain owned by Maxit Financial for $70 million in cash and stock. The announcement came two months after Cash America, a Fort Worth, Texas-based payday lender, announced the acquisition agreement. The stores Cash America is adding include 29 locations in Washington state and 10 in Arizona, operating under the names Pawn X-Change and Maxit, respectively. More

Reality of pawnshops a little different from TV shows
The Arizona Republic    Share    Share on FacebookTwitterShare on LinkedinE-mail article
On one show, the pawn-store owner is trading in antiquities and working big deals. On another show, the pawn-store owner deals with an array of sketchy characters kept in line only by his beefy security guards. Neither portrayal seems familiar to pawn dealers in the Phoenix area. More

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Gold falls in New York as dollar steadies; Silver prices rise
Bloomberg Businessweek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Gold fell in New York as the dollar steadied, curbing demand for the precious metals as an alternative investment. Silver gained for a second day.The dollar was little changed against the euro, after falling four consecutive weeks. Hedge funds and other large speculators hold their most-bullish position in New York gold futures in almost a year. Gold has climbed 23 percent this year and silver is up 38 percent. More

Pepsi Bottling CEO joins EZCorp board
Austin Business Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Quickly-growing pawn and loan giant EZCorp Inc. has added former Pepsi Bottling Group Mexico president and CEO Pablo Lagos Espinosa to its board of directors. The company recently made Fortune's fastest-growing companies list, posting 25 percent growth in the past three years. It was one of only two Central Texas companies on the list. EZCorp posted a 39 percent net income increase year-over-year in the second quarter, making about $20 million, or about 40 cents per share. More

Pawn America: Honored for 'outstanding example of positive community involvement'    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Pawn America announced the company has been honored as a 2010 Activa Award recipient. Launched in 1999 by FiSCA, the Activa Awards program honors outstanding examples of positive community involvement activities of its members throughout the country. FiSCA supports and encourages its members to make an investment in the communities that they do business by giving their time through community service and money through charitable contributions. More

31 small business tax deductions
American Express    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Since deducting expenses from your top-line revenues reduces your tax burden, it's easy to be too aggressive in claiming them. However, not deducting all that you are allowed leaves money on table. Use the following checklist of rules to reduce your taxable income as much as legally possible. More

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No welcome mat for pawnshops in many suburbs
Chicago Tribune    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Allowing Tinley Jewelry and Loan to open wasn't an easy decision for Tinley Park officials in this Chicago suburb. Some residents worried that a pawnshop wasn't in keeping with the image they wanted for the south suburb. But with many struggling to make ends meet in this economy, village officials saw how a pawnshop could help some residents generate a little cash. They allowed the store to open — but not without a list of restrictions. More


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NPA Weekly NewsBrief
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