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Home   About   Membership   Resources   Government Affairs   Meetings & Events Oct. 26, 2010

Pawnshops save the day
Associated Content    Share   Share on FacebookTwitterShare on LinkedinE-mail article
In the movie "Men In Black," the pawnshop depicted was dirty, dingy, and dark. The pawnbroker, was portrayed as unconscionable and deceitful. For years pawnbrokers have been given a bad rap and stigmatized by crime shows, action films and Hollywood blockbusters like the movie "Men In Black". In reality, pawnbrokers are professional business people who must adhere to strict federal and state regulated laws. Pawnshops are eclectic blends of the old and the new. They are shops rich with history, stories, and rare finds. They are run by serious business minded professionals who have had to jump through more than one legal hoop to get to where they are. Background checks, licenses and bonds are just the beginning. More

Georgia pawnshop steps up to help a neighbor business in need
WTOC-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Someone stole a fundraising jar from a Savannah, Ga. Salon. The jar was there to raise money for breast cancer awareness and help pay for mammograms. Owner's at The Gold Rush pawnshop in Savannah, Ga., saw the story and decided to help the salon out. They gave them $500 to put in their jar. "We're a pawnshop here to help people. That is our main focus and our main priority, is to help people when we can and we felt like, we were in a good enough position to do something good. We felt like helping them out, and anytime we can, we will," said Bryan Skrine, owner of The Gold Rush pawnshop.

Cash America's new mail-in gold buying business features Mr. T
Fort Worth Business Press    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Consumers with old, broken or unused gold jewelry, diamonds, platinum and fine watches to sell have a new option to cash in on their items. Cash America International Inc. announced recently that it has begun operations of Gold Promise, a mail-in gold and jewelry buying business. Cash America is one of the largest purchasers and processors of gold jewelry in the United States. More

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Pawnshops, payday lenders profit during hard times
The Fort Worth Star-Telegram    Share    Share on FacebookTwitterShare on LinkedinE-mail article
One byproduct of hard economic times is that pawnshop owners and payday lenders seem to be thriving. Cash America International, a Fort Worth, Texas-based consumer lender and pawnshop operator, reported that its third-quarter profit increased 24 percent. Arlington, Texas-based First Cash Financial Services, a pawnshop operator, posted a 19 percent increase in quarterly profit. More

Pawn Stars: Our most revealing reality show
Bloomberg Businessweek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Over-tanned teenagers with poufy hair, White House party crashers, forgotten members of The Brady Bunch, washed-up '80s rockers: These are the gods of the reality television pantheon. Now Peter Brady and Bret Michaels must make room for three unlikely newcomers: Rick Harrison, his father Richard, and son Corey. The proprietors of Gold & Silver Pawn Shop are the leading men of the History Channel's Pawn Stars, which happens to be cable's top-rated unscripted show. Yes, Pawn Stars outdraws Jersey Shore—and it's making the somnolent History Channel, a network previously known for Hitler documentaries and Ice Road Truckers, one of cable's hottest networks. More

Houston police using database to watch pawned items
The Houston Chronicle    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Houston police are using a privately owned online database of pawned merchandise to bust thieves and recover stolen property, a crime-solving tool enlisted by more than two dozen other law enforcement agencies in the area. For a $90,000 annual fee, Houston detectives can log into LeadsOnline's nationwide database and view paperwork on items taken in by most of the city's 133 pawnshops, as well as thrift stores, scrap yards and pawnshops in all 50 states. More

First Cash profits up 19 percent
The Dallas Morning News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
First Cash Financial Services Inc. said it earned more than $14 million between July and September, up 19 percent from the same period last year. The pawn store operator and payday lender's third-quarter profit amounted to 46 cents a share, up from 39 cents a share in the same period last year. It also said it expected to earn between $1.70 and $1.72 a share for the year, an 11-cent increase in the midpoint of the guidance range from the previous forecast. More

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West Virginia community considering pawnshop ordinance
WOWK-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Ultimate Pawn and Performance has been under construction in Hurricane, W. Va., for five months, and could soon be regulated by a new law. City Council is considering a pawnshop ordinance, mandating a waiting period before pawned items could be sold. "I think overall it will be a good idea. It will maybe help to deter from bringing in goods that may be stolen," says Brian Bowling, owner of Ultimate Pawn and Performance. More


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Demand for guns, food stamps indicates uncertainty
CNBC    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The rise in gun sales and food stamp demand are indicators of a fearful public struggling financially, Nicholas Colas, chief market strategist, ConvergEx Group, told CNBC. "Oddly enough, buying a gun still holds very steady, but buying ammunition not so much," said Colas, who analyzes trends in the economy and financial markets. In addition to firearms and food stamps, ConvergEX reviewed sales of gold and silver coins and used cars. More

Des Moines zoning board drops pawnshops from new rule in Iowa
The Des Moines Register    Share    Share on FacebookTwitterShare on LinkedinE-mail
Members of a city zoning board in Des Moines, Iowa, changed course on a new ordinance that aims to restrict the spread of payday loan stores and pawnshops. Plan and Zoning Commission members voted 7-5 to exclude pawnshops from the new ordinance, contrary to recommendations from city staff and some members of the board who helped tailor the proposed regulations. The majority of commissioners decided pawnshops and payday lenders were too different to fall under the same restrictions, although the ordinance has been drafted that way for about six months. More

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