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Home   About   Membership   Resources   Government Affairs   Meetings & Events Nov. 9, 2010

Sour economy sees people hocking heirlooms, weapons
The Sun News    Share   Share on FacebookTwitterShare on LinkedinE-mail article
Cash-strapped customers have been selling or pawning once-prized luxury items such as expensive Rolex watches, heirloom sterling silver pieces and other symbols of formerly upscale lifestyles to stay afloat until they find new jobs or resolve the financial crunches that have beset them, pawnshop managers in Myrtle Beach, S.C. said. High on the list of assets they have turned to are damaged jewelry or rings, and necklaces and bracelets they no longer wear or want. More

'Pawn Queens' open for business
The Herald-News via Chicago Sun-Times    Share    Share on FacebookTwitterShare on LinkedinE-mail
When a pair of Illinois pawnshop owners decided to adapt their business so that it would primarily appeal to women clientele, the move paid off more than they could have ever expected. It turned out The Learning Channel had a series in the works titled "Pawn Queens" that was looking for just this sort of shop. After reading about Naperville Jewelry & Loan’s new direction online, producers called the business and spent the month of August filming at the store. The first episode of "Pawn Queens" airs at 9 p.m. Nov. 18. More
Related story:  'Pawn Queens'of Naperville, Ill (WMAQ-TV)

Purveyors of pawn
Hi-Desert Star    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Stan Zarakov puffs a cigar as he enjoys the late afternoon sunshine outside his Twentynine Palms Highway storefront. As the owner of Gateway Pawn Shop in Yucca Valley, Calif., Zarakov may be one of the few business owners to see a rise in transactions since the recession began. In Zarakov's world, those who might be low on cash are the first customers. With 14 years of experience under his belt, the Boston-born businessman has learned how to structure purchases and pawns. More


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A lifeline for the temporarily un-well-to-do
Financial Armageddon    Share    Share on FacebookTwitterShare on LinkedinE-mail article
I spend a lot of time at Financial Armageddon writing about ordinary people who are dealing with major hardships because of the financial crisis, said Michael Panzner. Many have lost their jobs, their homes, and their families through no fault of their own, and have been reduced to scrapping and scraping as best they can. But what about those who are nearer the top of the ladder … Luckily, they now have access to the kind of safety net that has proven to be a lifeline for the poor and downtrodden — and so many others. If the temporarily un-well-to-do need a little something to tide them over, as Newsweek reveals in "A Pawn Shop for the Affluent," they can simply put up the Picasso as collateral. More

Crown Heights residents in New York reject pawnshop
The Brooklyn Ink    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The hit reality TV series, "Pawn Stars," opens with images of an antique watch, a sword, and a dramatic shot of three men in black. The show, which premiered last year on the History Channel, has done much to legitimize and even glamorize a business once seen as a front for robbers unloading their goods. In a newly gentrifying area of Brooklyn, N.Y., however, a controversy is simmering over the opening of a pawnshop shows that old perceptions die hard. More

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They're not 'Pawn Stars,' but Chicago-area shops do OK
Southtown Star    Share    Share on FacebookTwitterShare on LinkedinE-mail article
When the economy is tough for everyone else, it still is pretty good for pawnbrokers because people need quick cash when times are tight. David Schoeneman would know. After all, the owner of Shane's - The Pawn Shop, has been running the family business for 21 years. The shop in the Chicago Heights suburb of Chicago, specializes in buying gold and jewelry, and pawning both. More

Ezcorp fiscal 4Q profit jumps 33 percent
The Associated Press via Bloomberg Businessweek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Pawn store operator Ezcorp Inc. said its net income jumped 33 percent in the fourth fiscal quarter, as revenue growth was fueled by jewelry scrapping sales and pawn service charges. The Austin, Texas, company said that it earned $27.9 million, or 56 cents per share, in the three months ended Sept. 30. That compares with net income of $20.9 million, or 42 cents per share, in the same quarter last year. More

Pawnshops are replacing banks
The Sun    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The number of pawnshops in London has soared since the recession — as they become "respective alternatives" to banks. More than 200 new ones have sprung up in the past two years, taking the total to 726 — a 44 percent rise. More

Gold hits record highs — Online pawnbroker sees 300 percent rise in gold loans
PR Newswire    Share    Share on FacebookTwitterShare on LinkedinE-mail article
With gold prices on the stock exchange hitting its eighth record high in two weeks, the soaring prices are beginning to have an effect well beyond the confines of the Bank of England. Gold has traditionally being seen as a safe haven in times of uncertainty, 2010 has proved no different, Pawnbrokers too have seen a big expansion in their gold loans as people hedge their bets as to whether prices will rise further. More

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Pawnshops could be ordered to file items electronically
WCMH-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A bill introduced in the Ohio Senate, would require pawnshops to make electronic files of purchases available on an internet law enforcement database. LEADS is one such database reporting system. Uncle Sam's Pawn Shop in Columbus, Ohio, says most pawnshops already use electronic records and share them with police voluntarily. More

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Pawnshop, payday lender restrictions go before Des Moines, Iowa lawmakers
The Des Moines Register    Share    Share on FacebookTwitterShare on LinkedinE-mail article
New regulations that aim to stop the spread of pawnshops and payday loan stores will go before the Des Moines City Council in Iowa. Last month, members of a city zoning board changed course on the proposed ordinance when they voted to exclude pawnshops from the regulations, 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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