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Home   About   Membership   Resources   Government Affairs   Meetings & Events Oct. 25, 2011

Pawnshops prospering in Sacramento, Calif., area, nationally
The Sacramento Bee    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Pawnshops, once considered the seamy underside of commerce, have become a mainstream destination for individuals and small businesses looking to cope in today's economy. As a result, many pawnshops are prospering both in Sacramento, Calif., and nationwide. A recent market report by Los Angeles-based industry research firm IBISWorld said the pawnshop industry "has thrived through tough economic times," with a 2.6 percent annual growth rate since 2006. More

Pawnbrokers offer reward for info in Mississippi slaying
WAPT-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Mississippi Pawnbroker's Association is offering a reward for information that leads to an arrest and conviction in the case of slain Waynesboro Pawn Shop Manager Henry Adcock who was shot to death in his Ellisville, Miss., home in June and the pawnshop he worked at was robbed. More

Pawn Stars 2.0
Inc.    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Terry Croom, who runs a small advertising firm in Greensboro, N.C. needed cash fast. He searched the Web and found Pawngo, a Denver-based start-up that purports to be the world's first online pawnshop. The company, which launched in June 2011 and has received about $2.6 million in venture funding from Daylight Partners, Access Venture Partners, and Lightbank, allows entrepreneurs to pawn personal items—from gold to Gucci—in exchange for quick business loans. Disbursements typically range from a few hundred dollars to several thousand; the largest loan in company history so far $50,000 (which came in exchange for 40 Krugerrands, South African gold coins that each weigh an ounce.) More

Gold rises 1 percent on Europe prospects, China data
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Gold rose more than 1 percent, as European leaders edged toward a solid plan to resolve the euro zone debt crisis and signs that China's economy is in better shape than feared. In recent weeks gold prices have followed moves in riskier assets, with the precious metal's safe-haven appeal diminishing after wild price swings in the past quarter. More

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Short-term lenders seize the day
The Wall Street Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Tough times are good times for pawnshops. They are taking advantage of anemic economic growth, banks' unwillingness to lend and regulatory dysfunction to thrive. Borrowers on the fringes of the financial system are gravitating to these companies, known as payday lenders because they offer short-term loans to borrowers who often need tiding over between paychecks. Pawnshops offer similar loans, but require valuables such as jewelry or high-end electronics as collateral; those items can later be sold by the shops under certain circumstances. More

Pawnshops see resurgence in Peoria, Ill.
(Peoria) Journal Star via Chicago Tribune    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A Kodiak bear-skin rug. A 1958 Barbie doll, still in the box. Hand-carved wooden squirrel calls. Pawnshops in Peoria, Ill., are a mecca of the odd and unexpected. Once thought of as seedy hangouts for the down-and-out, pawnshops have enjoyed a resurgence lately, thanks in part to the stagnant economy and reality TV. More

Oregon community tightens rules for pawnshops,
hoping to deter thieves

The Oregonian    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Clackamas County, Ore., is tightening its regulations over pawnshops and secondhand stores, closing a gap that officials say attracted thieves from across the Portland, Ore., area. The regulations will bring Clackamas County into line with Portland and Washington County, which have long required thumbprints, photos and identification checks from people pawning items or selling them to secondhand stores. More

Cash America 3Q net income rises 25 percent
The Associated Press via Bloomberg Businessweek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Pay lender Cash America International Inc.'s third-quarter net income climbed 25 percent, helped by increased consumer loan and pawnshop revenue. The company also announced that it declared a dividend of 3.5 cents per share. More

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San Bernardino County, Calif., pawnshop sees more business
San Bernardino Sun    Share    Share on FacebookTwitterShare on LinkedinE-mail article
When it comes to the economic climate, Dave Delgado, manager of Sierra Jewelry & Loan in Fontana, Calif., says he can only gauge business on how much need he sees in customers. "We've seen an increase in the business," he said. "There is always somebody who is needy and struggling on a daily basis. I especially see a lot of construction people because of the housing situation and the lack of work." More

Don't be the boss — Be the leader
American Express Open Forum    Share    Share on FacebookTwitterShare on LinkedinE-mail article
So why are so many bosses bossy? Often it's because their authoritative style has failed and they feel they have to be more assertive, even aggressive, to get what they want. What they don’t appreciate is that when people don't understand or disagree, they'll do something their own way and create their own deadlines and priorities. Of course, that makes a boss feel even more out of control, and leads to even more bossy behavior. More

Malaysia pawnbrokers glad to help out
The Malaysia Star    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Talk about being enterprising. Two men from Selangor, Malaysia. pawned their personal belongings for a quick RM6,000 to buy a truckload of durian fruit. After a week of selling the King of Fruits by the roadside, the pair earned enough to redeem their belongings from the pawnshop and bring home a healthy profit. It is these kind of stories that make people like Ho Teck Koun happy and proud of their humble pawnbroking business. More

As banks squeeze, alternative lenders gain traction
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Alternative finance firms, from credit unions to online and pawn lenders, are gaining traction as banks turn off the tap for easy cash and start charging fees for services that customers have had for free. More

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NPA Weekly NewsBrief
Colby Horton, Vice President of Publishing, 469.420.2601   Download media kit
Yvette Craig, Sr. Content Editor, 469.420.2641   Contribute news
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