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Home   About   Membership   Resources   Government Affairs   Meetings & Events Oct. 23, 2012

Out from the shadows
TV shows, economy making pawning more acceptable, popular
South Bend Tribune
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Pawnshops nationwide could not have concocted a better marketing strategy than the plethora of pawn shows on TV these days. They've made it look fun. They've made it look reputable. They've made it look safe. Thanks to shows like "Pawn Stars" and "Cajun Pawn Stars," among others, the interest is strong. And once people sample the shows, they often find a way to make it into the shops. "There's no question it has increased the number of people going to pawnshops," said Richard Feinberg, professor of consumer science and retailing at Purdue University. "The industry itself could not have asked for anything better." More
Related article:
How exactly does a pawn work? (South Bend Tribune)

Economy and television shows make pawnshops cool again
The Denver Post    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Marilyn Vigil watched patiently as the pawnshop employee weighed the several gold chains she hoped would amount to a needed loan. Unemployed for months despite a newly earned master's degree, Vigil worried about upcoming expenses with the onset of cooler weather. "The economy's not getting any better, and winter's coming, and I need tires for my car," said Vigil, an Arvada resident who visited EZPawn in west Denver for the first time. More

Pawnshop chain First Cash 3Q profit up 3 percent
The Associated Press via Bloomberg Businessweek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
First Cash Financial Services Inc.'s third-quarter net income rose 3 percent as the company made more money from its pawnshops and fees and saw continued strength in Mexico. The pawnshop chain and payday lender earned $18.9 million, or 64 cents per share, in the three months ended on Sept. 30, compared with $18.4 million, or 59 cents per share, in the prior-year period. More

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Pawning means cash and chance to buy item back
The Denver Post    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Getting a loan can be difficult, and impractical if it's a small amount. Pawning an item is an attractive and easy alternative, though interest rates are high compared to traditional loans. More

Zoning oversight bars new pawnshops in most parts of Springfield, Mo.
Springfield News-Leader    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Cory Loftis hopes to begin buying and selling merchandise Oct. 29, but it could be a week or two before his new store, Eagle Pawn & Jewelry in Springfield, Mo., begins offering loans. Before that can happen, he needs the City Council to amend a two-year-old ordinance that inadvertently restricted pawnshops from opening in most areas of the city. More

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Gold rebounds above key support on physical buying
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Gold prices has climbed, partially recovering from the previous session's biggest one-day drop in more than three months, boosted by technical buying and better Indian physical demand following the recent price drop. More

Police: Pawnshop ordinance helps Manchester, NH, catch thieves
New Hampshire Union Leader    Share    Share on FacebookTwitterShare on LinkedinE-mail article
City police defended a controversial Manchester, N.H., ordinance that requires pawnshops and dealers in second-hand goods to report goods they buy for resale and hold on to them for 30 days in case the person selling them is trying to use the shop to "fence" stolen goods. Pawnbrokers, coin dealers and other sellers of second-hand merchandise say the ordinance's requirement that a fee be paid and each item entered into a database is burdensome. They also say that it forces them to tie up their cash in inventory that has to be held for 30 days before it can be sold. More

Gun industry thrives during Obama's term in office
The Associated Press via Google News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
An analysis by The Associated Press of data tracking the health of the gun industry shows that sales are on the rise, so much that some gun manufacturers can't make enough guns fast enough. Major gun company stock prices are up. The number of federally licensed, retail gun dealers is increasing for the first time in nearly 20 years. The NRA is bursting with cash and political clout. And Washington has expressed little interest in passing new gun laws, despite renewed calls to do so after recent deadly shootings in Colorado and Wisconsin. More

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German teen sells mum's jewels for brothel visit
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A 14-year-old German teenager took his mother's jewelery worth between 2,000 and 3,000 euros ($2,500-$3,800) and pawned it for 300 euros ($380) to finance two trips to a brothel for himself and a friend, German police said. Karlsruhe police spokesman Ralf Minet said the teenager's mother is pressing charges of theft against her son, who admitted he pawned the jewelery to pay for the prostitutes. More

Database targets burglars
Chicago Tribune    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Elgin, Ill., is likely to require its pawnshops, resale stores and recycling centers to log inventory into a database police use as a tool to locate stolen property and capture burglars. The City Council recently gave initial approval to altering an existing ordinance. If final approval is given Oct. 24, the businesses would be required to input all property, a photo, seller identification and other factors into the national database Leads Online. More

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