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Your neighborhood pawnshop is propped up by big banks
The Washington Post
We usually think of payday lenders, pawnshops, rent-to-own stores and other high-cost loan operations as alternative forms of financing for people who are short of cash. But that's merely a facade: They couldn't operate without billions of dollars in cheap capital from the nation's biggest banks.
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Cash America closes on Georgia PawnMart locations
Atlanta Business Chronicle
Cash America International Inc. closed its deal to buy 31 PawnMart Inc. stores in Georgia and three in North Carolina for $61 million. The Georgia stores in operate mostly in metro Atlanta, where Cash America already ran 17 pawn lending locations. Cash America now has 48 locations in Georgia.
Harlem, NY, cops vs. iGrinches: Police in upper Manhattan, NY, trying to stop stores from selling stolen iPhones, iPads
New York Daily News
Harlem, N.Y., cops are flooding pawn shops and electronics stores, trying to slice the re-sale of stolen iPhones, iPads and other popular Apple gadgets, store owners and police sources said. Officers have visited Game Stop stores, Gem Pawnbrokers shops and a bevy of mom-and-pop merchants, combing through their inventory of used smartphones and tablets, to sniff out for purloined products.
Ordinance brings tech into scrap metal, pawnshops in Oklahoma community
Enid News & Eagle
The city of Enid, Okla., will consider forcing scrap metal dealers and pawnbrokers to use an online system to prevent the sale of stolen property. The database, called Leads Online, already is in use by Enid Police Department.
Sale of counterfeit goods increases at Christmas
From jewelry to jerseys, gold and golf clubs, the amount of counterfeit merchandise on the market may be more common than you think, especially now.
AP survey: US income gap is holding back economy
The Associated Press via Seattle Post Intelligencer
The growing gap between the richest Americans and everyone else isn't bad just for individuals. It's hurting the U.S. economy. So says a majority of more than three dozen economists surveyed recently by The Associated Press.
truTV rings up more episodes of breakout hit 'Hardcore Pawn'
In advance of the season 8 premiere of "Hardcore Pawn", truTV is already heading back to Detroit for more episodes of the breakout hit. "Hardcore Pawn" is an eye-opening look at one of the country's largest pawnshops and the family that runs it. The season 8 premiere aired Dec. 17.
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Rock points to potential diamond haul in Antarctica
Australian geologists have opened up the tantalizing but controversial prospect that Antarctica could be rich in diamonds. In a scientific paper published in the journal Nature Communications, a team said they had found a telltale rock called kimberlite in the Prince Charles Mountains in East Antarctica. No diamonds were found in the samples, taken from Mount Meredith, and the study — focusing only on the region's geology, not on mining possibilities — was not designed to quantify how many could be there.
Drafting a written collections policy is good for business
By Nate Budde
While sometimes overlooked — or just noticed but ignored — a strong collection policy is an important piece of a complete and thorough credit policy. A well-conceived collection policy, coupled with a detailed lien policy, will save a business much of the time and expense taken up by the litigation that sometimes seems necessary to get paid. Some collectors and collection agencies have rightfully gained a less-than-stellar reputation, and it's understandable if companies want to keep the collections process in-house. Either way, a good in-house or outsourced collection program can benefit your bottom line.
Reward offered for 27 guns stolen from Georgia pawnshop
A $10,000 reward is being offered for information leading to the capture of thieves who broke into a Cumming, Ga., pawnshop and stole 27 guns. The U.S. Department of Justice Bureau of Alcohol, Tobacco, Firearms and Explosives, Atlanta Field Division says a $10,000 reward is being offered for information leading to the arrest and conviction of those responsible for the theft.
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