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Home   About   Membership   Resources   Government Affairs   Meetings & Events Nov. 16, 2010

San Diego brothers go new school with
their pawn businesses

The San Diego Union-Tribune    Share   Share on FacebookTwitterShare on LinkedinE-mail article
To earn spending money as teenagers in San Diego's South Bay, Moris and Yigal Adato cleaned jewelry, swept out the bathrooms and did other odd jobs in one of the several pawnshops operated by their father and uncle near the border. … Today, the duo is championing the industry which has long held the image of seedy sellers trafficking in stolen goods in gloomy shops. Despite the country's growing number of stores (from 6,900 in 1988 to more than 11,000 in 2007 according to the National Pawnbrokers Association) and stringent regulations to prevent pawning stolen items, the brothers often still get a cold reception when they talk about their profession. That's why the Adatos are doing business new school, shaking the dust from the stereotypical broker doing business behind locked gates and bars. More

In economy, pawnshops prospering in Wichita, Kan.
Wichita Eagles via McClatchy Washington Bureau    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A down economy means business is up for A-OK Enterprises in Wichita, Kan., and owner Bruce Harris has big expansion plans. "The economy has been very poor, and because of that, people are changing the way they're shopping, and they're buying a lot of stuff from me," he says of his four A-OK pawnshops. All of his businesses — the pawnshops, 12 check-cashing sites, two jewelry stores and two cell phone stores — are doing well. More

Gold rebounds from steepest tumble since July
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Gold rebounded from the biggest slump in four months after speculation that China may raise interest rates at the weekend proved unfounded, reigniting investment demand for the precious metal. Silver also jumped. Gold for immediate delivery climbed as much as 0.6 percent to $1,376.28 an ounce and traded at $1,373.07 at 10:41 a.m. in Seoul. The metal had tumbled 2.8 percent on Nov. 12, the biggest decline since July 1, on speculation that China may tighten monetary policy to cool inflation, sparking a commodity selloff. More


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'Pawn Stars' coming to Sparks' Baldini's Casino
Reno Gazette-Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Stars of History Channel's series bring their "Gold and Silver Road Show" to Baldini's Casino in Sparks, Nev., on Dec. 4. Rick Harrison, his son, Corey, and sidekick, Chumlee, will arrive — cash in hand — ready to buy any item they think will sell back in their Las Vegas Gold and Silver Pawn shop. "Pawn Stars" follows the successful pawnshop, where the Harrisons buy and sell collectible, unusual and historically significant items. More

Consumer Protection is cracking down on pawnshops in Utah
KTVX-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Utah Division of Consumer Protection is cracking down on pawnshops in the state to prevent the sale of stolen goods, but they also advise consumers to identify their property so they can get it back if someone steals it. "Just sign on that red X," said Michael Katsanevas who runs the Crown Pawn Shop in South Salt Lake. When someone pawns something, they have to present their ID and put their thumb print on this form. This, along with a detailed description of the item then goes to the police. More

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Albermarle & Bond to focus on retail at Christmas
Professional Jeweller    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Pawnbroker Albermarle & Bond has said that it will focus on the retail arm of its business this Christmas period. Albermarle & Bond chairman Greville Nicholls said: "The gold jewelry market remains very challenging, and we are focused on our retail offer as we enter the key Christmas retail trading period." More

Top Democrat backs 1099 requirement repeal
CNN Money    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Top Democrats are uniting with Republicans in a show of support for small business owners: Senate Finance Committee Chairman Max Baucus, D-Mont., said that he will introduce legislation to repeal the expanded 1099 reporting requirements set to take effect in 2012. "I have heard small businesses loud and clear and I am responding to their concerns," Baucus said in a prepared statement. "Small businesses are the backbone of our economy in my home state of Montana and across the country, and they need to focus their efforts on creating good-paying jobs — not filing paperwork." More

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Sign of the times?
The Sun Chronicle    Share    Share on FacebookTwitterShare on LinkedinE-mail article
With tough financial times well entrenched, people sometimes find it necessary to pawn possessions for fast cash. And soon, residents of Attleboro, Mass., will have two shops to choose from, possibly increasing their chances for a better price from their possessions. More

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